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U2 HAVE COME under fire recently for their approach to paying tax – so when guitarist The Edge read a letter in a US newspaper he didn’t like, he decided to let them know.
Using his band moniker, he wrote a letter to the Baltimore Sun in response to a letter to the editor.
That letter was titled ‘Senator Cardin’s affection for Bono’s foundation is indefensible’, and was carried in the Sun’s 7 July issue.
The letter, written by Simon Moroney, was described by The Edge as containing “so many inaccuracies that it is pointless to attempt to correct them all”.
The Edge (whose real name is David Evans) said that all the members of U2, and the band itself, have a “totally clean record with every jurisdiction to which they are required to pay tax and have never been and will never be involved in tax evasion”.
Moroney’s claimed in his letter that Bono “exemplifies the worst characteristics of Wall Street”, both for excess and tax evasion.
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I thought they lost all their cash
in an Edge Fund…
Yeah, tehy haven’t evaded taxes, just avoided them.
Well move your Company back to Ireland again and show commitment to us !
W
Would you say that to intel or Hewlett packard?
Well said Ferg, just like I pointed out above.
Fair play to the Edge.
U2 members still pay taxes in Ireland.
They only moved one of their companies to Holland. One company. That’s all.
If the Revenue Commissioners come up with evidence of them breaking any tax laws, then I’ll criticise them, but there is no evidence as of yet.
We’re known for our begrudgery, and this is really evident in the hatred of U2 by so many Irish people (many of whom will still go and see them play in Ireland).
They’re multi-millionaires, and that is how they can afford to buy hotels, magazines and large houses.
If any one person here can say that they wouldn’t do the exact same with their money, then I’ll call them a liar.
Get over your jealousy of successful Irish people, and get on with your own lives.
the one company their publishing arm with all the royalties from their songs and concerts.
i wonder if this has the largest earnings. Damn right.
If thats what they want to do then its their choice and their money however they should no longer claim their songs are Irish.
In addition :) Bono is very mouthy telling governments how to spend tax money on poorer countries and to eliminate poverty (no doubt a just cause). when it comes to paying tax in his own country where all his songs were produced he would rather save money and avoid his tax duty and pay less in Holland. Its not like he doesn’t have a big pile to sleep on.
Lots of artists do this however it is Bono who crusades for the poor. What about the poor of Ireland? you know your people?
This story is getting very boring, when will it go away.
When they start paying tax
Exactly, they evade tax, yet jump in the anti piracy/censorship bandwagon, hoping our government will secure their ability to evade yet more taxes..
They don’t evade tax, they avoid tax – there’s a big difference. And you’re honestly telling me if you ran a business and could avoid paying high tax rates you wouldn’t employ such a strategy?!
One of the main reasons we have American MNCs in Ireland is thanks to our attractive corporation tax policy. America’s economy is struggling. Should they all go back to America and pay their taxes there instead?
I wonder how all the moaners would feel if all the multinational companies in Ireland did what they want U2 to do and brought their taxes home? The unemployment we have now would seem like nothing.
I run my own business. I employ an accountant who advises me on the best way for my company to pay as little tax as possible within the law. I still pay the full wack on my personal tax.
If I earned enough money to employ a tax accountant so i didn’t have to pay cent in tax I would have no issue with that. I would – just like every one of you would. There is nothing wrong with this, immoral, ethical simply nothing wrong – actually it’s proper business practice and any business who does’t do this then you should fire the boss man.
Now the knockers out there who hate U2, you have your rite to your views. But U2 do for this country what Tourism Ireland / Board Failte could never do. Positive promotion of Ireland. If there was a group of people that for the past 25 yeas who have globally promoted this country it’s them. We should be paying them for their services.
I know it’s a poor analogy but when you look at the monarchy in the UK – they bring billions in tourism dollars into the UK economy just by being there.
Very finely put, David.
Well said David
Aoife’s right – evasion is doing illegal stuff to reduce your tax bill. Avoidance is when you pay accountants a shedload of cash to move your business around so you don’t pay as much tax as the people who buy your music.
Should probably spend some of the cash he has saved dodging taxes on guitar lessons
68 U2 fans and 24 musicians…
Says all we need to know about their music that this n bonos ego is what they r known for. Best band in the world? Not even the best band from dublin. My bloody valentine take a bow.
These guys are incredible ambassadors for our country… and will probably contribute well to getting us out of this mess…. We have all benefited somehow from their global appeal. Tax avoidance is common business sense and U2 continue to benefit Ireland.
Having been knocked off our pedestal of new found arrogance… are we reverting to a nation of begrudgers… biting the hand that feeds us
Well said!
Don’t believe that for one moment
Sometimes it’s the type of business that U2 are in …. I believe that they are not evading but avoiding and since their business is global they’re dead right. Take another high profile Irishman, JP McManus who pays zero tax here through the horse racing/bloodstock industry and then regarding all his other business affairs chooses to live in Geneva and Barbados.
Total amount ….zero……But he has a big golf pro am every other year in Adare for charity so he is OK.
Every artist is a cannibal, every poet is a thief. All kill their inspiration and then sing about their grief. – U2, The Fly
This article says nothing and is utterly pointless. Of course they are not tax evaders. They just don’t pay tax at the rates set in the countries they should (here). This is bad reporting and bad journalism.
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