Finnish Customs Used Incorrect Exchange Rates For Three Years

The Finnish customs from May 1, 2016 to June 30 this year used the wrong exchange rates for customs clearing in settlements with customers. Now, it will have to pay €11.5 million, Yle news agency reported.

Incorrect rates were used to convert 25 national currencies, including Swedish krona, the US dollar and Chinese yuan.

In total, incorrect calculations occurred in 960 thousand cases when higher customs duties and turnover taxes required 1.5-2.5% for the import of goods into the state, « so now they have to pay up to €11.5 million, » the newspaper notes .

The error occurred due to the fact that customs officers used the exchange rate taken from the website of a private bank, and did not take into account rates set by the European Central Bank, as it was prescribed in the EU at the beginning of 2016. “And this misinterpretation continued and continued,” admitted Head of the customs department of the customs department, Jarmo Räikkä.

The client drew attention to the error, noting that the customs did not use the rate of the European Central Bank.

Most of the amounts to be refunded are small, but there are also payments of a couple of thousand euros, the newspaper notes.

source: yle.fi

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