EU ruling could cost member states billions

Posted on: 17/05/2017

A landmark EU ruling that calls for interest to be paid on wrongfully collected customs fines from exporters could see member countries facing billions of euros in claims.

The ruling, which was made on behalf of German shoe manufacturing company, Wortmann, states that companies claiming refunds on wrongfully imposed antidumping duties should also be able to claim interest on the amounts paid from member states. Further, the interest is due from the day the payment was made.

The move opens the door for companies in the EU that have received money back from customs over the past three years, to now go back to claim interest on the amounts.

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