Businessman Fined Equivalent of Rs 38.4 lakh For Speeding

Reima Kuisla, a Finnish businessman and a millionaire, was issued a speeding ticket for driving at almost 103Km/h (64mph) in a zone with a speed limit of about 80Km/h (50mph). The speeding ticket cost Kuisla a colossal 54,024 euros - that's nearly $59,000 or Rs 38.4 lakh.

How did he rack up that fine, you ask. Authorities in Finland deems speeding related offenses comparatively more serious than others and calculates the fine based on income. The fine is based on half of the concerned driver's daily net income. Interestingly, the number of children living with the offender and an amount considered to be enough to cover basic living expenses also factor in. This number is then multiplied by the number of days of income the offender should lose, which is in accordance with the severity of the offense.

It was assessed that Kuisla should lose 8 days of pay, and his fine was calculated from his 2013 income - a dandy 6,559,742 euros (over $7 million). Hence, the fat fine.

Kuisla was obviously not impressed and took to Facebook to express that opinion along with a picture of his speeding ticket. It has sparked a huge debate with considerable support for both sides; some said Finland's practice of 'rich people should pay more' is a form of taxation.

P.S: All conversions are according to current exchange rates.