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IKEA to be checked in the wake of $1bln tax evasion allegations

IKEA to be checked in the wake of $1bln tax evasion allegations European Union regulators commenced the examination of tax evasion allegations amounted to $1bln by the Swedish company IKEA, Bloomberg.

The biggest furniture retailer to be vetted by the EU officials who received claims by Green lawmakers, according to Competition Commissioner Margrethe Vestager.

Green party's allegations claim IKEA uses unfair loopholes to avoid paying taxes.

Vestager said: “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.”
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