European Greens: Ikea avoided 1 billion euros in taxes

Report Accuses Ikea of Evading $1.1B in Taxes
Report Accuses Ikea of Evading $1.1B in Taxes

Swedish furniture retailer Ikea avoided paying some 1 billion euros in taxes from 2009 to 2014, a report by the Green party in the European Parliament said on Friday.

The company did so by channelling royalty income through a Dutch company and possibly through Luxembourg and Liechtenstein, the report said. It added that Ikea also benefited from tax schemes in Luxembourg and Belgium.

SEE ALSO: Here's how to figure out whether you should do your own taxes

The findings of the report were forwarded to the European Commission to ask them to investigate whether Ikea had infringed any EU laws, the Greens said in a statement.

Ikea Group said in a statement it had not yet seen the report and could not comment.

"In the 2015 financial year, the Ikea Group corporate income tax was 822 million euros on a global basis, with an effective corporate income tax rate of approximately 19 percent," it added.

(Reporting by Robert-Jan Bartunek in Brussels and Simon Johnson in Stockholm; Editing by Hugh Lawson)

See more of Ikea stores around the world:

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