Category: Ikea

Ikea Being Investigated for Dodging Taxes of More than $1.1 Billion

According to a Green party report in the European Parliament, Ikea has been accused of tax dodging for as much as 1 billion euros or $1.1 billion in its taxes from 2009 to 2014. The political organization has accused the retailer of a large scale avoidance of taxes. In the… – Continue reading


The European Commission is launching an investigation into Ikea’s tax construction in the Netherlands. European Commissioner on competition Margrethe Vestager is expected to officially announce the investigation on Tuesday, British newspaper the Financial Times reports. The Swedish furniture company is suspected of evading nearly a billion euros in taxes between… – Continue reading

BDI lobby group opposes end of ‘patent box’ tax breaks

Germany’s BDI industry group has come out against a government plan to unilaterally close so-called ‘patent box’ tax loopholes used by foreign companies to avoid paying full taxes on profits earned in Germany. The Association of German Industrialists, BDI, said Tuesday that the government’s unilateral move would send a negative… – Continue reading

Oxfam: Luxembourg, Ireland, Netherlands among worst tax havens

The NGO’s report exposes the worst offenders in the ‘race to the bottom on corporate tax.’ Luxembourg, Ireland, Cyprus, and the Netherlands are among the world’s 10 worst tax havens, despite an ongoing EU crackdown on tax avoidance and profit shifting across the bloc. The findings come in a report… – Continue reading

Lawmakers Quiz Apple, Google, IKEA and McDonald’s Over Tax Avoidance

In their latest attempt to try to stamp out tax avoidance by multinationals in the European Union, lawmakers are set to question Apple, Google, IKEA and McDonald’s over their tax affairs as EU member states fail to agree a common tax policy. Lawmakers in the EU have struggled to prevent… – Continue reading

Who’s got guts enough to go after Canada’s tax-dodging corporations?

In its time, the Irving empire has had plenty of federal contracts — all of them lucrative, many of them controversial. So it wasn’t a surprise to hear that a federal cabinet committee is reviewing Irving’s $26 billion sole-source (but still unsigned) contract to build a fleet of warships for… – Continue reading

Ikea avoiding tax liability, report claims

EU countries may have lost out on more than €1 billion in tax revenues between 2009 and 2014 due to aggressive tax strategies by furniture giantIkea, a new report has claimed. The report, commissioned by the Green/EFA group in the European Parliament into the tax affairs of the private company,… – Continue reading

EU to clamp down on corporate tax avoidance schemes

Multinational companies are facing severe constraints on their ability to avoid taxes on their activities in Europe as regulators seek to close loopholes laid bare by the LuxLeaks scandal Pierre Moscovici, the EU’s tax policy chief, will set out plans next week to curb practices such as using debt interest… – Continue reading

Law Case Launched Against European Commission Over Tax Probe Cover-Up

Documentary Evidence European Union lawmakers sitting on the TAXE committee investigating corporate tax evasion in Europe say they have become frustrated at changes to their mandate and the unwillingness of the European Commission to hand over documents for their investigation. The matter is all the more personal as Commission President… – Continue reading

Thirty-eight percent of Australia’s large companies paid no tax in 2013-14

An Australian Taxation Office (ATO) report issued last month on “corporate tax transparency” showed that 1,539 of the country’s biggest firms had a combined turnover of $1.6 trillion but paid a total of only $39.9 billion in company tax—about 2.5 percent of the collective turnover. Five hundred and seventy-nine of… – Continue reading

BEHIND THE HEADLINES: Tax haven hypocrisy

A BALANCING ACT in London, folly and redemption in America’s District of Columbia and sheer hypocrisy in Brussels. And in every case, Barbados and many of its Caribbean neighbours were placed in the negative international spotlight at a time when some of the world’s major financial centres are casting about… – Continue reading

Destination ‘filthy rich’: Where the wealthy go to get even richer

WELCOME to Switzerland. A mountainous country where nothing comes cheap but many of the world’s filthy rich come to grow their fortunes. The ongoing relationship between the wealthy and Switzerland looks set to only strengthen as the super rich get richer, according to a report released on Friday. That’s despite… – Continue reading

Interview: how the tax rulings committee came up with plans for a fairer system

Multinationals should pay their taxes where they make their profits, according to one of the recommendations by the tax rulings committee, which were adopted by MEPs on 25 November. Report authors Elisa Ferreira (S&D, Portugal) and Michael Theurer (ALDE, Germany) told us it had been difficult for the committee to… – Continue reading

Taxes: Google quizzed by EU

Brussels – Google and Facebook were among US companies facing questions on Monday from European Union lawmakers about their tax-reducing techniques, a month after regional antitrust regulators raised the stakes by ordering Starbucks and a Fiat Chrysler Automobiles NV unit to repay millions of euros in back taxes. The queries… – Continue reading

People are leaving fake price tags in IKEA to call out tax avoidance

Some people think popular furniture store IKEA is being naughty, and not paying its proper share of tax in Australia. The franchise is a behemoth, both literally in terms of store size and figuratively in that it collected a US$5 billion profit for the 2014 financial year. A community action… – Continue reading

Taxing issue: multinationals respond to EP proposals to make them pay their fair share

€1 trillion a year: that’s how much tax evasion and tax avoidance is costing European tax payers every year, according to the European Commission. Parliament set up a special committee to investigate these practices in the wake of the Luxleaks scandals and came up with plans to ensure multinationals pay… – Continue reading

EU calls corporations to account for low-tax deals

European Union lawmakers have called 13 multinational companies to a meeting next week to talk about the low-tax deals they have struck with EU jurisdictions, reports CBC News. Among the companies to be questioned on Nov. 16 will be, Disney, Coca-Cola Co, Anheuser-Busch InBev NV, HSBC Holdings, Ikea Group… – Continue reading

Tax panel compels companies to testify

HSBC, Google, Facebook are among firms that will now appear after threat from MEPs on access to Parliament. Several multinational companies have now dropped their opposition to appearing before a special European Parliament panel investigating allegations of tax avoidance in Europe. HSBC said Tuesday it would participate in a hearing… – Continue reading

Facebook, HSBC, Coca-Cola blacklisted by Socialist MEPs

Center-left MEPs turn up the heat on multinationals refusing to exchange views on tax policy. Google, Facebook, HSBC and AB Inbev are among a group of multinationals that have been “banned” from meeting MEPs from the European Parliament’s center-left grouping unless the companies agree to appear before a special committee… – Continue reading

Tax Justice for Social Justice

By Martina Neuwirth and Thomas Kattnig [This blog article published on July 9, 2015 is translated from the German on the Internet,] June 23 was the international day of public services. Did you know that? Provision of these services – water, hospitals, schools, culture, energy, streets, public transportation and… – Continue reading

DBS China picked to test yuan payment system

DBS Bank’s Chinese unit has been chosen to be among the first group of banks to test a new international payment system that promises faster transactions for businesses using the yuan. The Cross-border International Payment System (CIPS), launched yesterday, is seen as a big step towards making the yuan a… – Continue reading

Jean-Claude Juncker denies link to Luxembourg tax deals

European Commission president Jean-Claude Juncker has denied involvement in sweetheart deals that allowed hundreds of multinationals to slash their tax bills by locating to Luxembourg, despite being prime minister of the country for almost 20 years, reports the Financial Times. Facing questions from a committee of EU lawmakers set up… – Continue reading

MEPs approve draft report on corporate tax avoidance

This week, MEPs discussed a draft report on tax rulings, with a view to a vote in the next plenary session in Strasbourg. The report proposes a comprehensive overhaul of corporate tax practices as part of the EU’s battle to tackle tax avoidance. Parliament’s special committee on tax rulings (TAXE)… – Continue reading

Tax scandal probe hit by setback as EU refuses to hand over documents to MEPs

The European Commission is refusing to hand over documents to MEPs investigating whether EU member states are using special tax regimes that favour large multinational corporations such as Facebook and Amazon. EU economics commissioner Pierre Moscovici wrote to the European Parliament’s special committee on tax rulings (TAXE) this week claiming… – Continue reading

Lux Leaks panel banks on voter rage : New draft report calls on national governments to ‘eliminate mismatches’ in policy.

Anticipating a tough legislative fight, the European Parliament’s special committee investigating tax shelters plans to play its trump card: citizen outrage. The committee’s co-rapporteur Michael Theurer, a German MEP from the Alliance of Liberals and Democrats for Europe, told POLITICO’s German podcast that he expected “objections, difficulties and political resistance”… – Continue reading

European Parliament mulls lobby ban for big companies

The European Parliament’s special tax committee is seeking to punish multinationals for refusing to send representatives to a hearing in June by revoking lobbyist passes and preventing access to senior European Commission officials. AB InBev, AmazonEU, Barclays Group, Fiat Chrysler Automobiles, Google, HSBC Bank, Ikea, McDonalds and The Coca-Cola Company… – Continue reading

Cayman on new EU blacklist

Government appeared to brush off the latest blacklisting of the Cayman Islands when it released a short statement on Wednesday at around 5pm following revelations by the EU that the jurisdiction had been cited as facilitating tax evasion, reports the Cayman News Service. “It is unfortunate that the EU black… – Continue reading

EU releases tax haven blacklist

The European Union has published its first list of international tax havens as part of a crackdown on multinational companies trying to avoid paying tax in the 28-nation bloc. The list of 30 territories includes Hong Kong and Brunei in Asia, Monaco, Andorra and Guernsey in Europe, and a series… – Continue reading

Ireland, Luxembourg tax deals should be used in Australia says advisory board

Australia should consider adopting tax structures like those used in Ireland and Luxembourg in order to attract greater foreign investment, the government’s tax advisory body has recommended. On Thursday night, Assistant Treasurer Josh Frydenberg released several reports by the Board of Tax, which advises the government on how to reform… – Continue reading

Canada Needs to Act on Its Promise to Tackle Tax Havens

Luxembourg has been a prime destination for Canadians looking for a tax haven. Secretive. Discreet. Accommodating. These features were so attractive that Canadian companies, including a federal pension fund, sent $36 billion there in 2013. But new Statistics Canada data shows that more than $5 billion got pulled out of… – Continue reading

Edouard Perrin, French reporter, charged for role in Luxembourg tax-scheme leaks

Documents exposed secret deals to slash global tax bills of multinational companies A French journalist has been criminally charged in Luxembourg for his role in exposing how hundreds of multinational companies used secret deals with the European duchy’s government to slash their global tax bills — a scheme that CBC… – Continue reading

Australian Senate tax grandstanding: A preparation for austerity

An Australian Senate parliamentary committee hearing on Wednesday was dominated by the fire and brimstone of Labor and Greens politicians directed against tax avoidance by major corporations. Labor Senator Sam Dastyari called on Australian Tax Commissioner Chris Jordan to “name some of Australia’s worst corporate offenders,” declaring that they “should… – Continue reading

Dodging Taxation: The Truth of How Top Australian Firms are Paying Less Tax

Tax avoidance is being documented across the world, with Australia no exception. The government is now looking at how to clamp down on the billions of dollars being lost as top Australian firms are succeeding in dodging taxation. Last year saw the release of multiple reports highlighting the worrying number… – Continue reading

Second French suspect charged over ‘Luxleaks’ tax probe

LUXEMBOURG – A second French suspect was charged Friday with theft and money-laundering in ongoing investigations into the leaking of secret tax avoidance deals between Luxembourg and multinational companies, a scandal dubbed “Luxleaks.” The identity of the new suspect was not released, but he is a 38-year-old Frenchman and former… – Continue reading

LuxLeaks Scandal Reveals International “Race to the Bottom”

Countries are competing to lower their tax rates to please the corporate giants, but the result is a massive collective loss of revenue. Only international coordination can wipe out the practice and defeat the negative influence of the Big Four accounting firms. Tax havens have long existed in the popular… – Continue reading

Beating the big business tax minimisation schemes

Peter Mac Swedish “flatpack” furniture manufacturer IKEA has suffered a number of blistering mass media attacks for business practices that reduce their Australian tax liabilities to a tiny fraction of the company’s profits here. The criticism is certainly justified. Most ordinary working taxpayers, as well as companies that don’t engage… – Continue reading

Luxembourg tax files: how Juncker’s duchy accommodated Skype and the Koch empire

The EU’s most powerful official is under mounting pressure as dozens more multinational corporate names are dragged into the Luxembourg tax scandal following a new leak of confidential documents on Tuesday. Jean-Claude Juncker, president of the European commission, has been battling to distance himself from the growing furore over the… – Continue reading

Luxembourg tax leaks put pressure on G20 leaders to act on loopholes

G20 leaders are under pressure to go further in their efforts to crack down on tax avoidance after the revelation that thousands of companies, including several major Australian firms and multinationals operating in Australia, have legally avoided tax with complicated deals negotiated through Luxembourg. The chairman of a Senate inquiry… – Continue reading