Bono 'hurt' by criticism of U2 move to Netherlands to cut tax

geraghd

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Bono 'hurt' by criticism of U2 move to Netherlands to cut tax - The Irish Times - Fri, Feb 27, 2009

In an interview in The Ticket today, he speaks about the band’s 2006 decision to move part of its business out of Ireland following the Government’s decision to put a cap on the amount of tax-free earnings available to artists.....
I can understand how people outside the country wouldn’t understand how Ireland got to its prosperity but everybody in Ireland knows that there are some very clever people in the Government and in the Revenue who created a financial architecture that prospered the entire nation – it was a way of attracting people to this country who wouldn’t normally do business here,” he says. “And the financial services brought billions of dollars every year directly to the exchequer.
A slip of the tongue, or has Bono really been so aloof of the Irish position as to not realise we use the euro?

For the band’s guitarist, The Edge, the band’s tax affairs are “our own private thing – we do business all over the world, we pay taxes all over the world and we are totally tax compliant”. The guitarist added that due to the recession, the plan by himself and Bono to redevelop their Clarence Hotel in Dublin and the band’s plan to build a “U2 Tower” on Britain Quay in the city’s docklands were now “on hold” and “being looked at with a much colder eye”.
Are the tax affairs of the Band not then legitimately a private affair or does it touch on the issue of rich people with Irish passports not paying tax to the country of which they rely on and call their own?

Would it be safe to say that no member of the band is tax resident or does anyone know?
 


goosebump

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Bono and Edge can pay tax wherever they want, but if they want to pontificate about social justice and world hunger, let them f.cuk off and do it wherever they are paying that tax. I don't want to know.
 

Aindriu

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Bono and Edge can pay tax wherever they want, but if they want to pontificate about social justice and world hunger, let them f.cuk off and do it wherever they are paying that tax. I don't want to know.
I completely agree. It is absurd and immoral that they are doing everything they can to avoid paying tax in the country they live in. They then add insult to injury by 'preaching' about third world debt and helping other nations.
 

Twin Towers

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Self serving twaddle on Bono's behalf. Every country on earth chases foreign investment but none other that I know of have created an income tax free golden circle for anyone that can claim to be an artist.
 
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Bono pay your taxes then ************************* about Irish foreign aid otherwise f.cuk off.

Don't like it well tough you been freeloading long enough.
 

cyberianpan

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“And the financial services brought billions of dollars every year directly to the exchequer.
A slip of the tongue, or has Bono really been so aloof of the Irish position as to not realise we use the euro?

Mmmmm - something like a slip of the tongue - most of the FS companies that came here were US. So their accounting is done in US dollars, the salary comes from USA ... just at final point it gets converted to Euro.*

On the wider point:
Their tax affairs are fair game for public comment as they earn their money publicly


cYp
* and I'm well aware that these companies also get some EUR , GBP & other currency income, my point is that they are predominantly dollar based, even the wholly Irish service comanpies
 

loaded32

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I completely agree. It is absurd and immoral that they are doing everything they can to avoid paying tax in the country they live in. They then add insult to injury by 'preaching' about third world debt and helping other nations.
Exactly!!!! TBH, I was heartened to read that "Bono" was "Hurt". He is such a hypocrit and always has been! Little patronising tortoise.

Heres a joke for you.......Whats the difference between Bono and God???????????????????????????????...........................................................................................God doesnt think he is Bono!
 

hopi watcher

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They are free to move themselves and their money wherever they want. Like you said, it's the hypocrisy people don't like of Bono demanding governments pay taxpayers money for things, while doing everything he can to avoid paying himself.
.
This is not totally true. As stated elsewhere, Bono was nurtured and educated here which contributed to his later success. It is not unrealistic to expect that he would at least pay taxes here in recognition of that. What he is doing is cheap.
 

Question R24U

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Tax avoidance, corruption and trader barriers are the real causes of continuing poverty in the Third World. While Bono is not the same league as Abacha, he nonetheless has any lost moral authority to address this issue.


Tax Avoidance
Through offshore tax havens and fraud, and through transfer pricing, billions of dollars go untaxed. Estimates range from $50 billion to $200 billion of revenue losses. For example, an Oxfam report on tax havens, makes a “conservative estimate, [that] tax havens have contributed to revenue losses for developing countries of at least US$50 billion a year. To put this figure in context, it is roughly equivalent to annual aid flows to developing countries.” And they stress that this is a conservative estimate as it “does not take into account outright tax evasion, corporate practices such as transfer pricing, or the use of havens to under-report profit.”

Individuals too have been involved in huge amounts of capital diversions. For example, former dictator of Nigeria, Sani Abacha, and his associates are said to have diverted over $55 billion to private accounts in foreign banks — Nigeria currently suffers a $31 billion external debt burden.
Evasion of Tax and Other Responsibilities ? Global Issues
 

Aindriu

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Colada

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What about Ryanair, and all the other Irish companies which use foreign tax havens to shelter money? Are you going to go after them too?
 

Aindriu

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What about Ryanair, and all the other Irish companies which use foreign tax havens to shelter money? Are you going to go after them too?
We should do yes.
 

iartaoiseach

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ryanair aren't pretending to be a moral authority on anything- in fact they appear to be proud of the fact that the have no morals. I made the point previously that if we are looking at multinational corporations and banks for moral guidance then we are well and truly fecked. for this reason Bono and U2 are being judged on different terms - they are lecturing us on an issue but refuse to see the hypocrisy of their own position.
 

SkatesOn

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What about Ryanair, and all the other Irish companies which use foreign tax havens to shelter money? Are you going to go after them too?

Yes, Michael O'Leary and all the other tax exiles should be paying their fair share here!
 

Mugabe

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Bono, the self elected leader of the world. Kissing the runway in Sarjevo as if he were the pope visiting ireland for the first time. Strangely the press have never really scrutinised him.

Great music, but he is a k**b j****y....
 

jake76

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Yes, Michael O'Leary and all the other tax exiles should be paying their fair share here!
MOL is not a tax exile AFAIK unless Mulligar has some special status
 

shmuck

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Id love to meet Bono,I'd stitch him a loaf! he just has different morals that's all,disgusting ones.
 
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Kev408

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Another anti-Bono thread. You know there's probably a website for that - Irish made naturally.
 


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