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U2 decides to join the Stones in off shore tax setups. Debt relief is good if your the common man, but not if your Bono. I mean, he is the savior after all of 3 world countries. He should be excused of his own taxes then right?
Stones reap rewards
Sid Billington
Ageing rockers have last laugh
MegaStar says: ‘Now my advice for those who die, declare the pennies on your eyes. 'Cause I’m the taxman.’
It seems that all that effort to er, avoid the taxman, has finally paid off for the Rolling Stones.
The wrinklies of rock have paid $7.2m on their earnings of $450m (£240m), according to records released in the Netherlands.
“Rolling Stones find satisfaction in offshore tax shelter,” cry the Daily Telegraph, on their front page, no less, while the Independent dedicate page 14 to the band’s earnings.
This eye-watering information came to light after the Stones decided to open two foundations in Holland to “manage the rights to their music, performances, merchandise and films and to settle the question of ownership should one of them die,” the Indy writes.
Those sly old dogs have apparently been putting all their royalties into the Netherlands since 1972, and in case you still haven’t cottoned on, the tax rate is extremely low there because there’s no direct tax on royalties, unlike in other countries.
“And the tax breaks are so good for the rockers that U2 have also now copied the Stones by moving to the same exclusive Amsterdam address on 1 June. The bands now share the same Dutch director, Jan Favie.”
As the Stones are now preparing to make their wills, the Dutch law requires certain information can be made public.
But spare a thought for Ronnie Wood, because he doesn’t qualify to have his assets managed by Dutch holding company Promogroup, as he’s only got £70m in the bank.
Our hearts bleed.
Stones reap rewards
Sid Billington
Ageing rockers have last laugh
MegaStar says: ‘Now my advice for those who die, declare the pennies on your eyes. 'Cause I’m the taxman.’
It seems that all that effort to er, avoid the taxman, has finally paid off for the Rolling Stones.
The wrinklies of rock have paid $7.2m on their earnings of $450m (£240m), according to records released in the Netherlands.
“Rolling Stones find satisfaction in offshore tax shelter,” cry the Daily Telegraph, on their front page, no less, while the Independent dedicate page 14 to the band’s earnings.
This eye-watering information came to light after the Stones decided to open two foundations in Holland to “manage the rights to their music, performances, merchandise and films and to settle the question of ownership should one of them die,” the Indy writes.
Those sly old dogs have apparently been putting all their royalties into the Netherlands since 1972, and in case you still haven’t cottoned on, the tax rate is extremely low there because there’s no direct tax on royalties, unlike in other countries.
“And the tax breaks are so good for the rockers that U2 have also now copied the Stones by moving to the same exclusive Amsterdam address on 1 June. The bands now share the same Dutch director, Jan Favie.”
As the Stones are now preparing to make their wills, the Dutch law requires certain information can be made public.
But spare a thought for Ronnie Wood, because he doesn’t qualify to have his assets managed by Dutch holding company Promogroup, as he’s only got £70m in the bank.
Our hearts bleed.
Damn, I didn't know they were skirting paying their taxes! That definitely flies in the face of their debt relief preaching.
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