Log in

No account? Create an account

Tax-Avoiding U2

U2 frontman Bono celebrates his 53rd birthday today. But the spotlight has been turned on him and his group this time for a different reason - their decision to move their publishing arm to the Netherlands for tax avoidance purposes.

Ms Joan Burton, Social Protection Minister in the Government, has criticised companies that are not paying their fair share of taxes to help pay for essential public services in these difficult recessionary times in Ireland. When tax exemption for artists was capped at €250,000 (2006) U2 moved their publishing arm to the Netherlands where tax terms are obviously better. Other multinational companies are also at this racket.



Sadly, it isn't a racket as what they're doing is entirely legal.

Whether it should be is quite another question- the wealthy get away with far too much as it is!
I agree. Seems like they'd want to help their country, but the rich do not.
I find it interesting that many of those who shift their fortunes outside of their country for tax reasons are those who call for national pride and identity.
Evidently money and mouth are impossible to juxtapose.
And Bono speaks at high level about helping places in Africa.
The group, and Bono especially, like many rock musicians, is very fond of preaching social action and social justice. I guess they are for it as long as someone else pays the bills.

Edited at 2013-05-11 22:16 (UTC)
Too true.