July 11, 2009

Taxing Bono

Apparently charity is better than taxes, period.

Just ask Bono.

Having accumulated hundreds of millions of dollars in personal wealth, Bono's bank balance has also benefited from his artistic tax free status in Ireland, until now.

Ireland has sensibly changed it's rules a little, with a threshold introduced for their local artists, being 250,000 Euro per annum. Sucks for Bono, he earns a tad more than that in a bad year.

Not to worry. He pronto moved his financial affairs to the Netherlands.

While he advocates on behalf of the poverty stricken, the starving, the hopeless, while he meets with politicians the world over, demanding (and sometimes succeeding) in bullying them into giving away the tax-payer funds within their domain, Bono himself doesn't pay taxes - anywhere.

It would seem that Bono and his band mates have found what they've been looking for: a tax haven to accommodate their life long commitment to tax avoidance.

"U2’s guitarist, The Edge, protested that the band’s tax affairs were private, adding, “We do business all over the world, we pay taxes all over the world and we are totally tax compliant.”

Indeed. I don't doubt their compliance, don't doubt it at all.

Search results "Bono tax evasion" - Google.

3 comments:

  1. Ah Bono, is there any problem the man can't fix? Well, yes actually, all of them. Poverty still exists, religious intolerance still exists. Actually, when it comes saving the world, he's bloody awful at it.

    Or is giving the impression that your saving the world "even better than the real thing"?

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  2. This might seem 'out there' but... it's almost as if our hero is a base hypocritical prick?

    "we are totally tax compliant"

    Ahh, the Kerry Packer defence! U2's credibility as a force for good in the world is intact.

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  3. Dan - too true, he hasn't fixed anything. Even the third world debt right-off failed, despite being vigorously agreed a few years ago. Seems that pollies go into some sort of groupie stupor when Bono is in the room, then snap out of it once he's gone.

    Jacob - a true hypocrite and a true prick. What sort of arsehole, with more money than he could spend in a dozen lifetimes, wouldn't be happy to see his taxes going toward the building of schools, roads, hospitals, etc, in Ireland? I'll be he even lobbies the Irish gov't to give more aid to developing countries! Arse!

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