Swedish furniture giant Ikea on Monday said its tax deals in the Netherlands did not breach EU laws after the European Commission launched a probe into how the company allegedly slashed its tax bill on revenue from megastores around the world.

"The way we have been taxed by national authorities, has in our view been in accordance with EU rules," Ikea said in a written statement to AFP. 

"It is good if the investigation can bring clarity and confirm that," the Netherlands-based company added. 

Source: AFP