24/7 Newsfeed

Put Reason 24/7 on Your Site


Follow Reason 24/7 on Twitter and via RSS

IKEA Founder, Long a Tax Refugee, Returns to Sweden After Government Trims Its Take

Mr Kamprad, who built Ikea from a shop in his garden shed selling watches and Christmas cards, is one of Europe's wealthiest men. He left Sweden in the 1970s in protest at the country's high taxes, setting up residence in Switzerland.

"At that time, the tax regime was very restrictive," Ikea said.

But Sweden's centre-right coalition government has chipped away at the country's generous welfare system during its nearly two terms in office, trimming income taxes and abolishing a wealth tax.

Source: London Daily Telegraph. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.