Economy should return to 162,500 euros a Chinese businessman for a fine in the office The High Court has annulled the Madrid fined 162,500 euros imposed a Chinese businessman in 2005 which obliges the Ministry of Finance to repay the amount deducted in his days at the office in pursuance of a law that had not entered into force , said in a statement the firm defender, affirmed. The ruling means the case law and sets a fine of greater amount nullified the Administration in exchange control and intervention of money at customs. The ruling could affect about 400 more cases handled by the Economy July 1 2004 to April 25, 2005, and the penalties imposed The existing rule at that time established a fine of not more than 5% of the amount involved in office and the administration of wrongly applied penalties of up to 50% and 100%, which may now be invalid. The Administration approved the Chinese businessman, located in the industrial Cobo Calleja Fuenlabrada (Madrid), for not having completed a briefing paper to the Bank of Spain, before his departure from Spain. The judicial process lasted three years and the court annulled the fine, because the Ministry of Finance and illegally applied a standard that had not entered into force on the date of the intervention. The director general affirmed, Carlos Zambudio, explained that "the Ministry of Finance made an interpretation of the law contrary to law on capital movements, applying a standard that had not come into force at the time that the events sanctioned.
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