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U2 Follow Stones To Tax Breaks

LONDON (CelebrityAccess MediaWire) — Following multiple British newspapers reporting that the Rolling Stones were paying less than 1.6% tax on their multi-billion-dollar earnings due to offshore accounts and international financial dealings, Irish rockers U2 have reportedly taken a page from their older-brothers-in-rock.

Bono and company have reportedly transferred their publishing company, U2 Limited, to the same Dutch finance firm used by the Stones after the Irish government placed a limit on tax-free incomes in the country.

The cap was announced last year and ended the tax exemption on royalties, which were benefiting Irish recording artists.

The Guardian quoted Irish Labour party's finance spokeswoman Joan Burton, who stated: “Having listened to Bono on the necessity for the Irish government to give more money to Ireland Aid … I am surprised that U2 are not prepared to contribute to the exchequer on a fair basis along with the bulk of Irish taxpayers.” –by CelebrityAccess Staff Writers