U2 buy office in Amsterdam(Holland) ???
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doctorwho
Rock n' Roll Doggie VIP PASS
ntalwar said:
BUT.... U2 do pay taxes on many things. Any property is taxed. Purchases are taxed. Probably their studio is taxed. Touring money is taxed. T-shirts are taxed.
If I recall, the only thing Ireland changed was the upper limit on the "artists tax law" - I think it's 150K Euro now. So if an artist makes over that amount, he/she has to pay taxes on it. U2 do make more than that. So I'm sure to help them with what would otherwise be an even LARGER tax bill than what they already pay, some of it was set elsewhere. This is very common - in fact, the U.S. even has encouraged it (by giving tax breaks to businesses to set up shop in certain areas!). So why all the fuss here is beyond my comprehension. It's not like the U2 members are suddenly not paying any taxes to Ireland, but enjoying all the benefits. They probably pay oceans more than the average citizen.
u2wildhoney
The Fly
Salome said:
I absolutely agree. If they have this possibility to save money by paying a bit fewer taxes, and charges in the Netherlands, why on earth they wouldn't do it?
I suppose, any other irish musicians have the same right if they establish an ltd in the Netherlands.
Anyway, U2 has been spent lots of money to give donations (eg.:I read somewhere, that last year they spent 6 million USA dollars to help african countries to get clear water, and wheat..What about other rock bands? ) and if they spare money on taxes, maybe they can make more donations...
There's a difference between U2 the band and U2 the organisation.
Band still lives and records in Ireland so they did not "betray" Ireland. The irish governement changed the favourable law on taxes, so U2 organisation re-considered paying (some of) taxes. It's not like they moved their finances into some fishy bank on Cayman Islands.
I'm pretty sure they still pay a lot more than the average Irish people.
Band still lives and records in Ireland so they did not "betray" Ireland. The irish governement changed the favourable law on taxes, so U2 organisation re-considered paying (some of) taxes. It's not like they moved their finances into some fishy bank on Cayman Islands.
I'm pretty sure they still pay a lot more than the average Irish people.
vaz02
Rock n' Roll Doggie ALL ACCESS
considering bono wants irish tax payers to pump more money into Africa this seems very hypocritical.
poor PR desicion
great business
poor PR desicion
great business
U2Man
ONE love, blood, life
This reminds me of what I thought when I heard Bono speak at the National Prayer Breakfast.
1 percent, that's all we ask for. An additional 1 percent.
Well, as this story clearly shows, the ones that are gonna pay that extra 1 percent are not the rich, like Bono himself. They'll find all the loopholes that helped make them so rich in the first place.
Bono is asking people in general to pay more taxes for Africa, and yet he tries to avoid paying taxes himself. That's ludicrous.
1 percent, that's all we ask for. An additional 1 percent.
Well, as this story clearly shows, the ones that are gonna pay that extra 1 percent are not the rich, like Bono himself. They'll find all the loopholes that helped make them so rich in the first place.
Bono is asking people in general to pay more taxes for Africa, and yet he tries to avoid paying taxes himself. That's ludicrous.
Being rich doesn't mean you don't contribute to charity. (Bill Gates foundation?)
I also think "Bono is a rich and spoiled star, so I won't do anything about Africa" excuse is ludicrous. Right up there with the old "shut up and stick with singing" since 1987.
I also think "Bono is a rich and spoiled star, so I won't do anything about Africa" excuse is ludicrous. Right up there with the old "shut up and stick with singing" since 1987.
U2Man
ONE love, blood, life
U2girl said:
I don't think anyone said that the rich don't contribute to charity. What was said was that they often try to avoid paying taxes.
Nor have I seen anyone in here say that they won't ever do anything for Africa because "Bono is a rich and spoiled rock star". But Bono might be less convincing to people when they realize that he, apparently, doesn't want to pay taxes himself. How could an ordinary Irish person take him seriously when he asks the Irish government (and people) to pay more taxes for the benefit of Africa? It's very simple: If you don't live by your own standards, you lose credibility.
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vaz02
Rock n' Roll Doggie ALL ACCESS
to be fair to u2 , this doesnt mean they have stopped giving to charity , people forget how much they do for causes.
U2Man said:
The U2 organisation is avoiding paying taxes, the band will probably still pay various taxes as long as they live in Ireland and their music is sold there and whenever they tour there.
Yes, rich try to avoid taxes - maybe because they tend to pay more taxes than average people. Ordinary people look to pay as little when filling out their annual tax reports too.
I also think Bono's tax paying (even though this isn't technically about the band) and whether or not Irish government will pay anything for the benefit of Africa are two separate things.
Salome
you are what you is
what baffles me the most is that people make this out to be "a loophole"
a loophole even that only the filthy rich are able to exploit
I live in the south in The Netherlands about 5 minutes away from Belgium
just over the border all the bigger houses belong to Dutch people who have moved there because of favourable Belgian tax rates and because houses (especially land really) is cheaper there
do any of you really think that these people used "a loophole" in the (tax) law?
do you even think these people are indeed incredible rich and just therefore able to do this?
because you would be wrong on both accounts
what U2 is doing here is even less drastic
as has been pointed out Bono still lives in Ireland and pays his taxes there
most of the U2 company is still set in Ireland and still pays taxes there
now
no denying of hypocrisy then
as the situation is now I don't really see why anyone would have a problem with it
a loophole even that only the filthy rich are able to exploit
I live in the south in The Netherlands about 5 minutes away from Belgium
just over the border all the bigger houses belong to Dutch people who have moved there because of favourable Belgian tax rates and because houses (especially land really) is cheaper there
do any of you really think that these people used "a loophole" in the (tax) law?
do you even think these people are indeed incredible rich and just therefore able to do this?
because you would be wrong on both accounts
what U2 is doing here is even less drastic
as has been pointed out Bono still lives in Ireland and pays his taxes there
most of the U2 company is still set in Ireland and still pays taxes there
now
if this has happened there would have been something to complain aboutU2girl said:
no denying of hypocrisy then
as the situation is now I don't really see why anyone would have a problem with it
U2Man
ONE love, blood, life
I thought U2 was part of the "U2 organisation".
Tax paying and whether or not the government will give anything for the benefit of Africa are not two seperate things. The government only controls tax payers' money, and if they give more money to Africa, there will be less money for hospitals, schools, social security etc. in Ireland. That probably matters less to someone like Bono, but it might matter to any common Irish person.
Loophole....hmm...that's just a fight about words, isn't it? You're probably right, but regardless of whether it's a loophole or not, it has the same effect, right? You avoid some taxes.
And yes, we all try to avoid paying taxes, but how many try to avoid paying taxes while simultaneously asking our government to send more money to the poor? Bono would be better off if he would just donate to charity instead of asking his government (and the Irish people) to use tax money for the same purpose.
Tax paying and whether or not the government will give anything for the benefit of Africa are not two seperate things. The government only controls tax payers' money, and if they give more money to Africa, there will be less money for hospitals, schools, social security etc. in Ireland. That probably matters less to someone like Bono, but it might matter to any common Irish person.
Loophole....hmm...that's just a fight about words, isn't it? You're probably right, but regardless of whether it's a loophole or not, it has the same effect, right? You avoid some taxes.
And yes, we all try to avoid paying taxes, but how many try to avoid paying taxes while simultaneously asking our government to send more money to the poor? Bono would be better off if he would just donate to charity instead of asking his government (and the Irish people) to use tax money for the same purpose.
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What the government does with the tax payers's money is the government's choice, and if people don't like it they can talk to their elected authority.
I don't see how asking for aid (not necessarily money) for Africa automatically means not caring how much money goes to hospitals, schools etc.. in Ireland. That "1 percent" won't send everyone starving on the streets in the developed world. It might, however, make a difference in the world of real "have nots".
True, but how many make as much money in their jobs as U2? Bono can sell his posessions, donate the money and go begging on the street tomorrow, if that's more street-cred. Better and more effective on the long run - no.
ps: (06-26-2005) U2 to Donate Millions to Africa -- contactmusic*
U2 to Donate Millions to Africa
Irish rockers U2 will donate $6 million (GBP3.3 million) of their own money towards eliminating poverty in Africa.
BONO, ADAM CLAYTON, THE EDGE and LARRY MULLAN, who will be performing at the London leg of next Saturday's (02JUL05) LIVE 8 in Hyde Park, will each make a donation from profits of their current VERTIGO tour.
A source says, "The band and their manager PAUL McGUINNESS are giving about one million euro ($1,200,000/GBP665,000) each.
"It would seem hypocritical if they were asking people to help the charity effort and weren't doing something themselves.
"But their personal gesture is not something they are going to boost."
--contactmusic
I don't see how asking for aid (not necessarily money) for Africa automatically means not caring how much money goes to hospitals, schools etc.. in Ireland. That "1 percent" won't send everyone starving on the streets in the developed world. It might, however, make a difference in the world of real "have nots".
True, but how many make as much money in their jobs as U2? Bono can sell his posessions, donate the money and go begging on the street tomorrow, if that's more street-cred. Better and more effective on the long run - no.
ps: (06-26-2005) U2 to Donate Millions to Africa -- contactmusic*
U2 to Donate Millions to Africa
Irish rockers U2 will donate $6 million (GBP3.3 million) of their own money towards eliminating poverty in Africa.
BONO, ADAM CLAYTON, THE EDGE and LARRY MULLAN, who will be performing at the London leg of next Saturday's (02JUL05) LIVE 8 in Hyde Park, will each make a donation from profits of their current VERTIGO tour.
A source says, "The band and their manager PAUL McGUINNESS are giving about one million euro ($1,200,000/GBP665,000) each.
"It would seem hypocritical if they were asking people to help the charity effort and weren't doing something themselves.
"But their personal gesture is not something they are going to boost."
--contactmusic
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ntalwar
Rock n' Roll Doggie Band-aid
doctorwho said:
I doubt touring money is taxed in Ireland anymore. By law, after a few years of spending only a few months on Irish soil (less than 4-6 months per year), they can shed the requirement to pay Irish income tax.
From atu2.com:
Wednesday, August 09, 2006- The Guardian newspaper weighs in:atu2.blogspot.com/ ( full article here: www.guardian.co.uk/frontpage/story/0,,1840316,00.html)which notes:
"Corporation tax in Ireland is only 12.5pc. The standard rate of personal tax is 20pc, rising to a top rate of 42pc. The band had been able to claim artists' tax relief as songwriters, but the scheme did not cover income from tours and performances.
...U2's donations to aid organisations have always remained anonymous, although the royalties from several of their songs have been given to charities.
The band will continue to live and work in Ireland, paying other taxes, an industry source told the Guardian. Like other bands, the source added, U2 "try to be as tax efficient as possible". Principle Management, which controls U2's financial affairs, would not comment.
Wednesday, August 09, 2006- The Guardian newspaper weighs in:atu2.blogspot.com/ ( full article here: www.guardian.co.uk/frontpage/story/0,,1840316,00.html)which notes:
"Corporation tax in Ireland is only 12.5pc. The standard rate of personal tax is 20pc, rising to a top rate of 42pc. The band had been able to claim artists' tax relief as songwriters, but the scheme did not cover income from tours and performances.
...U2's donations to aid organisations have always remained anonymous, although the royalties from several of their songs have been given to charities.
The band will continue to live and work in Ireland, paying other taxes, an industry source told the Guardian. Like other bands, the source added, U2 "try to be as tax efficient as possible". Principle Management, which controls U2's financial affairs, would not comment.
ntalwar
Rock n' Roll Doggie Band-aid
U2girl said:
If they can shift their catalog operations overseas to avoid taxation, I'm sure they've done the same with their touring operations long ago. Escpecially since the touring money is earned abroad. I'm sure they pay income tax on their Irish shows though.
ETA - the fact that the Rolling Stones paid only 1.6% income tax on $150M in earnings last year suggests U2 can do the same. Also, the money for the Stones is handled in the Dutch Antilles, a tax haven.
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