In fiscal year 2022, IKEA Group’s tax expense
Posted: Thu Feb 13, 2025 11:01 am
In June 2022, Inter IKEA Group scaled down its operations and activities in Belarus and Russia after four months of operation, which meant the termination of the franchise contract with the local franchisee. IKEA has reduced its workforce in Russia and started auctioning its factories to new interested parties.
Export and import of IKEA products to and from Belarus and Russia have been stopped and the company's offices in Minsk and Moscow will be permanently closed. This decision has resulted in one-off costs related to cost provisioning and asset write-downs.
was $234 million, equivalent to 23.7% of pre-tax income, an increase of 16% compared to fiscal year 2021 employment data There was a huge tax increase due to lower profits at IKEA Supply Ag in Switzerland, as a result of low gross margin and high product costs. IKEA’s total tax contribution was $2.1 million, consisting of customs duties, corporate income tax, payroll tax and VAT.
IKEA profit
IKEA’s profit fell 3% in 2019 due to high logistics, transportation and material costs. In the same year, IKEA generated $43.7 billion in global revenue. IKEA’s global gross profit in 2020 was $12.4 billion, down from $13.1 billion last year. The company’s global gross profit for fiscal 2021 was about $13.6 billion, up from about $12.4 billion last year.
Export and import of IKEA products to and from Belarus and Russia have been stopped and the company's offices in Minsk and Moscow will be permanently closed. This decision has resulted in one-off costs related to cost provisioning and asset write-downs.
was $234 million, equivalent to 23.7% of pre-tax income, an increase of 16% compared to fiscal year 2021 employment data There was a huge tax increase due to lower profits at IKEA Supply Ag in Switzerland, as a result of low gross margin and high product costs. IKEA’s total tax contribution was $2.1 million, consisting of customs duties, corporate income tax, payroll tax and VAT.
IKEA profit
IKEA’s profit fell 3% in 2019 due to high logistics, transportation and material costs. In the same year, IKEA generated $43.7 billion in global revenue. IKEA’s global gross profit in 2020 was $12.4 billion, down from $13.1 billion last year. The company’s global gross profit for fiscal 2021 was about $13.6 billion, up from about $12.4 billion last year.