Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Bono counters claims he and U2 shielded millions of pounds in overseas tax havens

The musicians labelled the accusations 'ridiculous'

Jenn Selby
Friday 15 May 2015 04:24 EDT
Comments
Bono
Bono (AFP/Getty)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Bono has responded to accusations that U2 attempted to protect millions of pounds of their fortune in overseas tax havens.

He insisted that not only have the band forked out millions in taxes over the years, but that it was financially “sensible” for them to move large amounts of their wealth to the Netherlands.

Speaking to Sky News, he said: “It is just some smart people we have working for us trying to be sensible about the way we are taxed.

“We pay a fortune in tax, a fortune, just so people know, and we're happy to pay a fortune in tax.

“Because you're good at philanthropy and because I am an activist people think you should be stupid in business and I don't run with that.”

His bandmate, guitarist The Edge, said it was “ridiculous” to make such a big deal out of the Netherlands account because so much of their business was outside of Ireland.

U2, who have just started their first tour in four years, enjoyed the spoils of the highest grossing string of shows in history with their last stadium tour.

Meanwhile, Bono is still recovering from the injuries he suffered after he fell off his bicycle in New York last year.

“I just feel so stupid,” he said.

“I did make a mess of myself but I'm strong now and feel good.”

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in