The European Commission has launched a probe into Ikea's tax deals in the Netherlands. Brussels believes the company took advantage of questionable tax loopholes to reduce its tax bill significantly.
The European Commission is investigating IKEA's tax benefits in the Netherlands, which have helped the flat-pack furniture retailer avoid paying taxes of close to €1 billion between 2009 and 2014.
European Union countries have agreed on new rules to crack down on cross-border schemes that help companies evade taxes. Tax professionals who fail to inform authorities about these ploys will be hit with penalties.
Europe's top court has started looking into a complaint by Austria, which has been up in arms about a German plan to introduce a road toll for passenger cars. Lots of nations collect such tolls, but there's a difference.
Ingvar Kamprad, the founder of furniture giant Ikea, has died at the age of 91. Kamprad started selling matches at the age of five, buying them in bulk and selling them individually.
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