"We have applied punitive measures to businesses engaging in exorbitant pricing. Companies caught hoarding three times within a calendar year will also face closure penalties. The aim here is deterrence. We want commerce to be conducted rightfully, ethically, and within the conditions of the market," the Minister of Trade Omer Bolat said.
The legislation also includes measures against misleading advertisements, ensuring effective consumer protection. The Advertising Board will have the authority to swiftly block access to deceptive ads.
Penalties raised to ₺12 million
With amendments to the Law on Regulation of Retail Trade, administrative fines ranging from ₺100,000 to ₺1 million will be imposed for each violation for producers, suppliers, and retail businesses acting contrary to the provision prohibiting exorbitant price increases for a product or service.
Those acting contrary to the provision prohibiting activities causing scarcity in the market, disrupting market balance and fair competition, or hindering consumers' access to goods may face fines ranging from ₺1 million to ₺12 million for each violation.
Repeat offenses incur double penalties
If a violation necessitating an administrative fine is repeated within a calendar year, the fine will double with each recurrence.
Extension for cooperatives' main contracts
The period for cooperatives to adapt their main contracts has been extended by 2 years. The financial responsibility for transactions at specialized product exchanges or authorized clearing centers will be limited to established limits, secured collateral, and guarantee fund assets.
Temporary closure penalties
The Ministry of Trade will have the authority to close businesses for up to 6 days for producers, suppliers, and retail businesses who have violated this provision at least 3 times within a calendar year.
The total amount of administrative fines for a calendar year cannot exceed 20 million Turkish liras for small-scale businesses, ₺200 million for medium-scale businesses, and ₺1 billion for large-scale businesses.
After-sales services regulated
According to this law, administrative fines of up to ₺2,200 will be imposed for each transaction or contract where non-compliance is detected for failure to deliver or install goods on time, and for each transaction or contract where non-compliance is detected for avoiding the sale of goods or services, the administrative fine will be no less than ₺2,200 or up to 10% of the total sales price of the goods or services evaded, including all taxes.
Under the scope of after-sales services, manufacturers and importers failing to obtain a post-sales service competence certificate will face fines of ₺1,115,000. Failure to register or update records in the system established by the Ministry will result in a fine of ₺18,000 for each service station.
Private service stations failing to use the term "authorized service" in all their channels and activities visibly and legibly will face a fine of ₺18,000. Manufacturers and importers failing to provide the minimum number of service stations throughout the validity period of the post-sales service competence certificate will face an administrative fine of ₺124,000 Turkish liras for each deficient service station.
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