First, let's not forget that Walmart is the largest retailer in the world, for several reasons. But skimping on state and local tax regulation is something that Walmart has done over the years. Most states (not all cities tho) want a company like Walmart, it provides lots of jobs (we won't take about labor wages), and creates perpetual economic growth in a neighborhood / city / region through a whole ecosystem of consumers, employees, vendors, shippers, contractors, etc. To entice Walmart, states give tax subsidies, devalue property assessments, etc.
I'm not saying IKEA doesn't have the same retail financial prowess with state regulators, but let's be fair, many corporations do what they can to get tax loopholes. Accenture, a global consulting powerhouse was incorporated in Bermuda strictly to avoid paying taxes on billions of dollars.
yea true, again for taxes... And it should be noted that Accenture struck a deal with the Bermuda government (me thinks) to pay limited amounts on a fixed timeline, in any case, they were paying pennies (and got a lot of heat for it) while raking in billions.
Ireland, good find, hopefully the gov't can get more into their pot of gold :P
I mentioned Walmart because they sell some furniture too, though the article points out that IKEA doesn't really have true competitors. You're right, Walmart has avoided quite a bit of tax, and that would be unfair relative to other big box stores or supermarkets. However, I don't think the magnitude of tax savings is anywhere near that of IKEA running in the guise of a charity.
In any case, I'm certainly not arguing for Walmart. I'm merely pointing out that these tax avoidance schemes lead to unfair competition when not all players have access to the same schemes. It should be a level regulatory environment for everyone.
I'm not saying IKEA doesn't have the same retail financial prowess with state regulators, but let's be fair, many corporations do what they can to get tax loopholes. Accenture, a global consulting powerhouse was incorporated in Bermuda strictly to avoid paying taxes on billions of dollars.