EU targets IKEA with €1billion tax avoidance probe

‘European Union regulators are investigating whether Swedish furniture manufacturer IKEA avoided paying at least €1 billion ($1.1 billion) in EU taxes over the past six years.
EU competition boss Margrethe Vestager confirmed in an interview with Bloomberg that she is looking at documents presented by the European Parliament’s Green group earlier this year.
“We have received the documentation that the Greens have made and we are going through it but we have nothing to comment as the case stands right now,” Vestager said. The furniture giant is reportedly using unfair loopholes to avoid paying taxes.’
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