Savings on my coffee? Yes, please.
If there’s one thing I love, it’s enjoying a cheap lunch while I’m buying even cheaper kitchen items and home décor at an Ikea department store. I love to tell people that shopping at Ikea is just like visiting Sweden, but without my passport. Ok, that last part is a lie but anyone who is an Ikea fan sure knows what I mean!
Its report, published over the weekend, said Ikea was deliberately shifting money from its stores around Europe through a subsidiary in the Netherlands. From there, they would end up untaxed in Lichtenstein or Luxembourg.
The European Commission, the top E.U. regulator, said it would study the report.
Ikea defended itself against the report. “We pay our taxes in full compliance with national and international tax rules and regulations,” the company said in a statement.
The report estimated that for 2014 alone, the tax avoidance led to 35 million euros ($39 million) of missing tax revenues in Germany, 24 million euros ($26 million) in France, and 11.6 million euros ($13 million) in the U.K.
Countries like Sweden, Spain and Belgium are likely losing between 7.5 million euros and 10 million euros ($8.5 million to $11.2 million), the report claims.
While Ikea is figuring that out the way we eat, drink and shop at Ikea is about to change forever.
Ikea is making some huge changes to the way we eat and drink at their department stores.