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Billionaire Ikea founder Ingvar Kamprad 'pays Swedish tax for first time since 1973'

Ingvar Kamprad declared income of 17.7m Swedish kronor (£1.3m)

Founder and owner of Swedish furniture mall IKEA, Ingvar Kamprad, wears a traditional arctic cap at the opening of a IKEA branch in Haparanda, Sweden
Ingvar Kamprad, 89, still serves on the supervisory board of Ingka Holding, Ikea's parent company Credit: Photo: EPA

The billionaire founder of flatpack furniture chain Ikea has paid Swedish income tax for the first time since he left the country in 1973.

Ingvar Kamprad declared income of 17.7m Swedish kronor (£1.3m), with 1.2m kronor coming from work, according to the Dagens Nyheter daily.

The 89-year-old paid around 6m kronor in taxes, the newspaper said.

The Kamprad family reportedly holds around €40bn (£28.5bn) in assets, with the Ikea founder himself sitting on a fortune of an estimated €3bn-€4bn.

Originally from Almhult in southern Sweden, Mr Kamprad decided to leave his longtime home of Switzerland for his native land after the death of his wife Margaretha in 2011.

The billionaire has yet to retire - Mr Kamprad still serves on the supervisory board of Ingka Holding, Ikea's parent company.

Ikea, founded in 1943, is the number one furniture store in the world bringing in around €31.9bn for the 2014-2015 fiscal year.