U2 buy office in Amsterdam(Holland) ???

[Galeongirl]

I heard this on the news last night..
It's been said they bought an office in amsterdam for their royalties on cds, dvds and tshirts etc.... something to do with the tax or so..
can somebody find me details on this?? I searched quite a lot and can't find anything!



maybe they need employees....

 

[Dutch Partygirl]

It was all over the Dutch news. The Rolling Stones are based (as a company, not the Stones themselves) in Amsterdam since 1971. U2 have now followed their example and got themselves an office in Amsterdam (where nothing happens probably, but just as a tax cover or so), since you only have to pay 2% taxes on royalties etc. They have their office in the same building as the Rolling Stones and even share the same director. I think it's just a legal and tax thing and they haven't actually moved their whole organisation to Amsterdam.

 

[Galeongirl]

Same building as RS??? oh I didn't know that...

and they say dutch people are cheap

so rich, and going to the country with the cheapest tax!


thanks for the info!

 

[Dutch Partygirl]

Oh well, it's just a matter of time before the laws on this will be changed in the Netherlands as well... If I was in their position I would've made the same move.

 

[Liesje]

and they say dutch people are cheap

Hey, GG, do people say that about you guys? B/c we say it about ourselves over here (this Dutch niche here in the USA - we say things like "How was copper wire invented? Two Dutchment fighting over a penny!), but I could never tell if it's a reflection of the immigrant families and our Great Depression, or actual Dutch culture.

Anyway, huzzah for the new U2 connection!

 

[ntalwar]

Here's a small mention of U2 in the Rolling Stones tax article:

http://www.dailymail.co.uk/pages/li...ews.html?in_article_id=398648&in_page_id=1773

 

[Miringeltje]

do people say that about you guys?

We say it about ourselves.

 

[Utoo]

here in the US, the same thing is done in Delaware. The state of Delaware has ridiculously low tax laws & many large companies are "based" there to take advantage of the taxes.

 

[Chizip]

i thought u2 didnt have to pay taxes in ireland or something

 

[Earnie Shavers]

i thought u2 didnt have to pay taxes in ireland or something

Not exactly, they don't pay taxes on certain things, which I think is limited to publishing royalties? They'd be looking for other havens elsewhere for everything else.

 

[ntalwar]

I'm not sure it matters, unless there's a special category for music artists. It's personal income either way. Part of the reason they move around so much is to avoid any one country from claiming them as tax residents for a calendar year - e.g. that's why they flew to Mexico when doing the CA shows. It was to avoid spending over 4 months in the US. For Ireland and France it's 6 months max before they can claim you as a tax resident.

 

[Popmartijn]

Not exactly, they don't pay taxes on certain things, which I think is limited to publishing royalties? They'd be looking for other havens elsewhere for everything else.

That used to be the case in Ireland (no income tax on royalties), but they changed the law for that recently. Hence U2 Ltd. moving to Amsterdam as apparently tax rates on royalty income are lower here than they are in Ireland.

 

[JanuaryStar]

Here's a link of a Dutch article (Volkskrant):

http://www.volkskrant.nl/kunst/article335032.ece/Lage_belasting_lokt_ook_U2

We say it about ourselves.

We do

 

[guill]

Make Taxes History is a very successful project, Bono can be proud.

 

[phillyfan26]

I would do that in a second. Who is it hurting?

 

[Party Boy]

Probably one of the biggest earners in Ireland and they move to avoid paying tax. Usual double stands for rich -v- not rich. Personally I think it sucks - when your worth as much as the band is, the tax that you are likely to pay in Ireland is just a drop in the ocean.

Have lost a wee bit of respect for the band over their tax evasion (for want of a better word) --

 

[Galeongirl]

Here's a link of a Dutch article (Volkskrant):

http://www.volkskrant.nl/kunst/article335032.ece/Lage_belasting_lokt_ook_U2




We do

it really sounds non-Bonoish to me that he campaigned for not having to pay tax in Ireland...
thanks for the info tho,I found some more on google aswell..

 

[popshopper]

They're basically hypocrites. They're all for epousing governments to pour cash into africa but when it comes time to pay their fair share they bail to the nearest tax haven

 

[guill]

They're basically hypocrites. They're all for epousing governments to pour cash into africa

Bono is involved in this cause, not U2.

 

[Canadiens1131]

They're basically hypocrites. They're all for epousing governments to pour cash into africa but when it comes time to pay their fair share they bail to the nearest tax haven

I don't criticize people for being smart with their money.

 

[Salome]

Larry, Adam, Bono + Edge is a band
U2 is a company
and people are paid quite a bit of money to make the best financial decisions for this company

in my opinion the people advising them would be doing a lousy job not to tell them to do this

 

[ntalwar]

I don't criticize people for being smart with their money.

What you fail to realize is that it is possible for U2 to escape the taxation, but not for the ordinary taxpayer. This is why some of the ordinary Irish citizens are upset - because of the double standard. They would like the same loophole too - why can't they have it?

 

[Liesje]

What you fail to realize is that it is possible for U2 to escape the taxation, but not for the ordinary taxpayer. This is why some of the ordinary Irish citizens are upset - because of the double standard. They would like the same loophole too - why can't they have it?

Because the loophole is for royalties and most ordinary citizens don't receive royalties for their work.

 

[GibsonGirl]

Lots of bands relocate to avoid taxation. U2 is not the first, and certainly not the last band to do this.

 

[ntalwar]

Because the loophole is for royalties and most ordinary citizens
don't receive royalties for their work.

The former Irish royalty loophole was closed, and U2 shifted to The Netherlands which has it. But the resentment stems from the fact that ordinary taxpayers cannot take advantage of such arrangements (e.g. shifting tax residency) and therefore feel like they are subsidizing the rich somehow - especially in a nation of only 4 million.

 

[Chizip]

i could see why people would be upset

i mean people always complain that rich people can afford lawyers to find loopholes to pay less taxes, which poor people cant do, and this is exactly what u2 is doing

also by doing this they are taking money away from ireland that would go to schools, roads, police and firemen, etc...

sure they have a right to try to save money, but to take away money from you country that may need it when you're already super rich...

 

[U2Man]

But it means more money for Africa.

 

[Utoo]

I think the biggest beef to be had doesn't necessarily have to do with the money....I'd say it's the symbolic act of "leaving" Ireland.

For a band that takes great pride in being Irish, and for a country that takes great pride in the band, the symbolic move out of Ireland is a big WTF. Kinda disappointing, actually.

 

[Popmartijn]

I think the biggest beef to be had doesn't necessarily have to do with the money....I'd say it's the symbolic act of "leaving" Ireland.

For a band that takes great pride in being Irish, and for a country that takes great pride in the band, the symbolic move out of Ireland is a big WTF. Kinda disappointing, actually.

It's not that the band is now moving out of Ireland. There are plenty of U2 operations still based in Ireland. Only the company owning the recording masters has moved out, others are still in Ireland (as far as I know).

 

[Utoo]

It's not that the band is now moving out of Ireland. There are plenty of U2 operations still based in Ireland. Only the company owning the recording masters has moved out, others are still in Ireland (as far as I know).

I know. And with the new buildings coming, they're not physically moving out any time in the foreseeable future. I think it's just the symbolic move that might irritate some.