A customer notice on applying for refunds due to incorrect currency rates has been published on the Customs website

11.11.2019 14.56 | Published in English on 12.11.2019 at 11.52
Press release

Finnish Customs has applied the wrong currency rates in customs clearances for some currencies during the period 1 May 2016 to 30 June 2019. In accordance with EU legislation, Customs will refund excess payments automatically if the refund amount is 10 euros or more. Overpaid import duties amounting to less than 10 euros plus interest are also refunded on application.

A customer notice on applying for refunds and a chart for comparing the incorrect and valid currency rates have been published on the Customs website (in Finnish).

Because of the error, the customs and VAT value of goods which was used as the basis for import duties was confirmed as 1.5–2.5 % too high. If, for example, the customs value of goods paid for in U.S. dollars was 150 euros after the currency conversion, and a VAT rate of only 24 % was assigned, then the amount of prescribed tax was 36 euros. If the currency conversion resulted in a customs value which was too high by 2 %, the correct customs value would have been 147 euros. Of that amount, the VAT amount of 24 % would have been 35.28 euros, meaning that the refundable amount of excess tax would be 72 cents.

More information: yritysneuvonta.lupa-asiakkaat(at)tulli.fi

Customer notice Valuutan muuntokurssitiedotteet