Bono - hypocrite or wise investor ???

Bono may be celebrated for browbeating world leaders into funding debt relief 
for developing countries, but his Irish rock band is facing criticism for 
switching its financial affairs overseas to avoid paying higher taxes...U2's 
decision to move part of its multi-million pound operation from Ireland to 
Amsterdam. The tax rate on royalty earnings in the Netherlands - where many of 
the Rolling Stones' assets are based - is only a few per cent.

Elevation Partners is a private venture capital firm with six partners, one of 
whom is Bono. It has an estimated capital value of $1.9bn ...Elevation 
Partners, confirmed it had invested around $300m (£157m) in Forbes, the US 
business magazine frequently described as the "bible of capitalism".
U2 were said to be the world's most lucrative group last year, earning more 
than 210 million euros .
Proposals to construct a so-called U2 Tower - the tallest residential 
development in Ireland on the southside of the Liffey river - have drawn 
complaints from locals in Dublin's Ringsend. The tower, a 31-floor 
construction, will house luxury apartments and provide space for the band's 
recording studios.

 Like other bands, the source added, U2 "try to be as tax efficient as 
possible". 

http://arts.guardian.co.uk/news/story/0,,1840232,00.html

alan johnstone , edinburgh br 


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