Evasion
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IKEA accused of tax evasion of up to € 1 billion in Europe
The Swedish furniture giant IKEA has been accused of dodging up to EUR 1 billion between 2009 and 2014. The allegations were made in a report of the Green party in the European Parliament. The Greens are accusing IKEA "large scale tax avoidance." According to the report, IKEA is using a series of tax loopholes in different European countries, namely the Netherlands, Belgium and Luxembourg to avoid paying taxes One of the techniques is shifting royalties from each IKEA store to a subsidiary in the Netherlands, which acts as a conduit. The royalties go in and out the Netherlands untaxed and end up in Liechtenstein (or at least partly). And for 2014 alone, the Greens estimate it amounts to €35 million of missing tax revenues in Germany, €24 million in France and €11.6 million in the UK. Countries like Sweden, Spain and Belgium are likely losing between €7.5 and €10... Continue reading
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February 15, 2016
IKEA accused of tax evasion of up to € 1 billion in Europe
The Swedish furniture giant IKEA has been accused of dodging up to EUR 1 billion between 2009 and 2014. The allegations were made in a report of the Green party in the European Parliament. The Greens are accusing IKEA "large scale tax avoidance." According to the report, IKEA is using a series of tax loopholes in different European countries, namely the Netherlands, Belgium and Luxembourg to avoid paying taxes One of the techniques is shifting royalties from each IKEA store to a subsidiary in the Netherlands, which acts as a conduit. The royalties go in and out the Netherlands untaxed and end up in Liechtenstein (or at least partly). And for 2014 alone, the Greens estimate it amounts to €35 million of missing tax revenues in Germany, €24 million in France and €11.6 million in the UK. Countries like Sweden, Spain and Belgium are likely losing between €7.5 and €10... Continue reading
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IKEA accused of tax evasion of up to € 1 billion in Europe
The Swedish furniture giant IKEA has been accused of dodging up to EUR 1 billion between 2009 and 2014. The allegations were made in a report of the Green party in the European Parliament. The Greens are accusing IKEA "large scale tax avoidance." According to the report, IKEA is using a series of tax loopholes in different European countries, namely the Netherlands, Belgium and Luxembourg to avoid paying taxes One of the techniques is shifting royalties from each IKEA store to a subsidiary in the Netherlands, which acts as a conduit. The royalties go in and out the Netherlands untaxed and end up in Liechtenstein (or at least partly). And for 2014 alone, the Greens estimate it amounts to €35 million of missing tax revenues in Germany, €24 million in France and €11.6 million in the UK. Countries like Sweden, Spain and Belgium are likely losing between €7.5 and €10... Continue reading