In a year marked by economic headwinds and shifting consumer behaviours in the retail sector, IKEA Australia delivered strong results, growing sales to deliver on its vision: to create a better everyday life for the many people and also celebrated 50 years in the Australian market.
IKEA Pty Limited can confirm it is currently the subject of an ATO audit covering 2016 – 2020 income years. The audit has been taking place over several years and we have worked collaboratively with the ATO to assist with its enquiries throughout the process. We strongly disagree with the ATO’s current audit position and intend to dispute any tax related liability that may arise. We do not consider it probable that tax is payable to any of the matters subject to audit and as such, no provision has been set aside to do so.
Globally, we are committed to managing our operations in a responsible way and to make a positive contribution to society in each country where we operate, paying taxes in accordance with laws and regulations, wherever we are present. For more information, please see Ingka Group's Tax Principles.
About IKEA:
IKEA offers well-designed, functional and affordable, high-quality home furnishing products, produced with care for people and the environment. There are several companies with different owners, working under the IKEA Brand, all sharing the same vision: to create a better everyday life for the many people. IKEA was founded in Sweden in 1943.
Ingka Group:
With IKEA retail operations in 31 markets, Ingka Group is the largest IKEA retailer and represents about 90% of IKEA retail sales. It is a strategic partner to develop and innovate the IKEA business and help define common IKEA strategies. Ingka Group owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. It has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Read more on ingka.com.