Finland Owes €70M Interest On Military Import Duties: EU

Law360, New York (September 28, 2011, 5:01 PM EDT) -- The European Commission told Finland last week it owed nearly €70 million ($95 million) in delayed interest on tariffs the country failed to pay for imported F-18 fighter jets and other military equipment in the late 1990s.

The penalty — which totalled just over €69 million — is more than twice the €35 million in taxes the EU originally assessed against Finland for the imports, according to Finnish Ministry of Finance spokewsoman Ismo Maenpaa.

The ministry received notice of the penalty on Sept. 21, and has...
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