Russia Targets Ikea Over $14 Million Customs-Duty Dispute
- Officials say Ikea underestimated license fees in 2017-2020
- H&M facing Russian criminal investigation over similar claims
An Ikea AB store in Moscow.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russian authorities opened an administrative case against the local unit of Ikea for allegedly avoiding more than 1 billion rubles ($14 million) in customs duties.
The Federal Customs Service in Moscow opened the case against the world’s biggest furniture retailer last year, claiming Ikea underestimated license fees in declarations from 2017 to 2020 and provided false valuations, according to documents seen by Bloomberg News. The allegations have not been reported previously.