(MENAFN) The Russian Federal Tax Service has reportedly lodged a legal complaint with the Arbitration Court of Moscow Region against IKEA's local subsidiary, Ikea Torg LLC, as disclosed in court documents, according to business daily Kommersant. The tax authority is seeking a substantial amount of 12.9 billion rubles (USD142 million) from the Swedish furniture manufacturer's subsidiary. While IKEA ceased its operations in Russia amid Western sanctions related to the Ukraine conflict, it still retains assets in the country, notably a warehouse in the village of Yesipovo outside Moscow, valued at over 34 billion rubles ($374 million). The facility, formerly a distribution center, is owned by Ikea Torg and remains a subject of legal dispute.
The case, filed on January 30, raises questions about IKEA's financial interactions in Russia and its ongoing relationship with local authorities. The Swedish giant's decision to sell off its factories but retain certain assets underscores the complexities faced by multinational corporations navigating the geopolitical landscape. The legal proceedings shed light on the intricacies of managing real estate and financial responsibilities for companies operating in regions affected by geopolitical tensions and economic sanctions.
MENAFN05022024000045015687ID1107810478
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.