8/27/2006
BONO UPDATE, PART DOUZE: Following in the steps of the Rolling Stones, U2 has gone Dutch in search of windmills and tax relief...okay, mostly tax relief.
The tax rate on royalty earnings in the Netherlands is only a few per cent, while Ireland has recently brought in tax changes which have imposed a cap of €250,000 (£168,000) on tax-free incomes for artists resident in the republic. Hence, U2 set up an umbrella financial group in the country.
Hopefully they got some free wooden shoes too, eh?
As we all know, Bono is the world's coolest humanitarian, donating loads of money to every government but his own. And Irish Government Officials are a bit peeved about this.
The Guardian quoted Irish Labour party's finance spokeswoman, Joan Burton as saying: ‘Having listened to Bono on the necessity for the Irish government to give more money to Ireland Aid ... I am surprised that U2 are not prepared to contribute to the exchequer on a fair basis along with the bulk of Irish taxpayers.’
The tax rate on royalty earnings in the Netherlands is only a few per cent, while Ireland has recently brought in tax changes which have imposed a cap of €250,000 (£168,000) on tax-free incomes for artists resident in the republic. Hence, U2 set up an umbrella financial group in the country.
Hopefully they got some free wooden shoes too, eh?
As we all know, Bono is the world's coolest humanitarian, donating loads of money to every government but his own. And Irish Government Officials are a bit peeved about this.
The Guardian quoted Irish Labour party's finance spokeswoman, Joan Burton as saying: ‘Having listened to Bono on the necessity for the Irish government to give more money to Ireland Aid ... I am surprised that U2 are not prepared to contribute to the exchequer on a fair basis along with the bulk of Irish taxpayers.’
# posted by Laura W @ 8/27/2006 10:02:00 PM 
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