COMMUNITY group Fair Go for Canbera say global furniture giant IKEA is welcome to Canberra, but is asked to stop using aggressive tax minimisation measures.
“Since 2003 IKEA has made over $1 billion in profits in Australia, almost entirely tax free,” a spokesperson said.
“Through (legal) aggressive tax minimisation tactics, the company paid less than 3 per cent company tax, which equates to approx. $270 million in lost tax revenue for the Australian people.
Today, at IKEA’s launch, Fair Go for Canberra will highlight the failure of multi-national companies like IKEA, as well as others like Microsoft, Chevron, Apple, Google and others, to pay their fair share of tax.
The campaign is focused on raising the public’s awareness of the potential school, hospital and social service funding lost every year to aggressive tax minimisation tactics.
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