(08-01-2006) U2 Moves U2 Ltd. to Amsterdam -- Het Parool* - U2 Feedback

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Old 08-01-2006, 12:06 PM   #1
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(08-01-2006) U2 Moves U2 Ltd. to Amsterdam -- Het Parool*

U2 Moves U2 Ltd. to Amsterdam

Ed. Note: The following article was translated from Dutch to English using Babel Fish. You can access the original Dutch version here.

AMSTERDAM - the Irish rockgroep U2 has established itself in Amsterdam because of the advantageous Dutch tax climate.

The group follows the example of the Rolling Stones, which already since 1971 their financial interests in Amsterdam have stabled.

U2 its most important company moved on 1 June, U2 Limited, the owner of the mastertapes, of Dublin to Amsterdam.

The group members Bono, the Edge, Clayton and Mullen has everyone a quarter of the e.g. Netherlands hardly charges the income from music royalties, to irritation of other countries in the European Union.

U2 established itself on the Herengracht 566, the same pand where the Stones have categorised their tax interests.

U2 the best deserving music act is in the world. Previous year the group gained a turnover of 255 millions dollar. The Stones to follow with 152 millions dollar.

U2 and idealistic activistactivist activist has left Bono from Ireland because of a tax reform. Those were introduced after had ended up that rich ieren pay hardly tax.

For conflicts concerning their inheritance to occur three Stones of the first hour, Michael Philip Jagger, Keith Richards and Charles Robert Watt transferred, on 3 April this year their musical rights to two new companies in Amsterdam. Of it, a foundation administrative office Herengracht a, owner of the music rights became. A Second e.g., Herengracht b, manages the picture rights.

Jagger (1943) continue live officially on the caraïbische island Mustique. Richards (1943) live still on Jamaica and Watt (1941) in the English Devon.

Although the Stones control their matter already more than thirty-five years from the from Amsterdam companies Promobridge and, they had personally register themselves Promotone with the chamber of commerce for problems with their heirs to occur.

Until recently they left the management of their capacity concerning to the financial brein behind the group, Rupprecht Ludwig Ferdinand Prinz zu Loewenstein-Wertheim-Freudenberg, improve as Rupie the confessed groupie. He tuigde a kerstboom of companies, among others on the Antilles.

Since 1985 450 millions dollar had come to Stones-royalties on the Herengracht, about which seven millions tax were paid.

--Het Parool
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Old 08-01-2006, 12:42 PM   #2
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Hahaha!
Babelfish!
About the grammar.
Keeping every word in the same position as (it is) in the Dutch language (the Dutch grammar) as the article was translated to English (which has different grammar rules).
Other than that, Babelfish was pretty spot on with the translation of all the words.
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Old 08-01-2006, 02:40 PM   #3
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Hmm... so multi millionaires can avoid paying tax in their home country by moving abroad. Personally, I think it sucks. Everyone pays tax based on their income - regardless of who you are.

The richer you are it seems, the more greedy you get with your $
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Old 08-01-2006, 04:41 PM   #4
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Many multimillionaires from Germany and other countries moved to Switzerland or Monaco because they don't have to pay any tax there. That's a normal thing, and the states can't do anything against it.

Despite saying Ireland is their tribe and they are connected to it they move their business to Amsterdam to save money on taxes.
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Old 08-01-2006, 05:25 PM   #5
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Quote:
Originally posted by Vincent Vega

Despite saying Ireland is their tribe and they are connected to it they move their business to Amsterdam to save money on taxes.
For Love or Money, eh?
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Old 08-02-2006, 09:31 AM   #6
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Just waiting for the outcry from the left about this.......
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Old 08-02-2006, 10:56 AM   #7
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Quote:
Originally posted by Vincent Vega

Despite saying Ireland is their tribe and they are connected to it they move their business to Amsterdam to save money on taxes.
Unless they move their families elsewhere, Ireland is still "their tribe".
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Old 08-02-2006, 12:09 PM   #8
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Quote:
Originally posted by Miringeltje
Hahaha!
Babelfish!
About the grammar.
Keeping every word in the same position as (it is) in the Dutch language (the Dutch grammar) as the article was translated to English (which has different grammar rules).
Other than that, Babelfish was pretty spot on with the translation of all the words.
Haha, yeah. They should just include the article in it's original language, especially since so many here read Dutch.


Anyway, I don't think it's "tax" in general, I believe they are avoiding tax on royalties. It's not like all of their business is now suddenly tax-exempt

It's just how business goes. Holland is more inviting to these types of things, Ireland is not. If it was such a huge deal, Ireland would reform their taxes.
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Old 08-02-2006, 01:29 PM   #9
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Quote:
Originally posted by U2girl


Unless they move their families elsewhere, Ireland is still "their tribe".
Didn't put that in question. I don't want to tell them not to move to Amsterdam.

But on the one hand it's their tribe, on the other hand they don't support it with taxes.

But at least they use other forms of connections
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Old 08-02-2006, 01:31 PM   #10
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I thought the band wasn't paying taxes in Ireland anyway?
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Old 08-03-2006, 06:03 AM   #11
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They are paying taxes in Ireland, up until now just not over the royalties (which is about 1/3 of their income). The Irish tax system has just reformed, which means they'll have to start paying 42 or 50% of taxes over their royalties. I know what I'd do as a company if I only have to pay 2% somewhere else... And it's just an office for tax reasons. It's not like they moved their whole organisation and families to Amsterdam.
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