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June 20th, 2005

U2 pays millions in tax - Not Totally Exempt! @ 12:20 am

volare:
I'm currently feelin: satisfied satisfied

http://www.atu2.com/news/article.src?ID=3949

This info has been a long time coming; it's nothing most of us didn't know but also been a longtime "sore spot" for the critics of the band's activism to pick at... "well if they're so into raising money and supporting people in need why don't they pay taxes then??"

Well now here it is in black and white. Under the ATE they get about 1/3 of their income untaxed - their publishing and royalties. That leaves the remaining 2/3 of what they make - concert sales, for instance - and they pay millions of euros on it.

We have always known they are not that hypocritical. Now the critics will have to find another half-arsed half-truth to nitpick on... wonder what they'll find next?


Mad props to @U2 for publishing the story from The Independent
 
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From:scaryrich
Date:June 20th, 2005 09:00 am (UTC)
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mad props??

:)
From:sabneraznik
Date:June 20th, 2005 11:26 pm (UTC)
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WOW!! And, of course, it makes sense. it also makes since that they would have accountants to juggle that for them. Too much money for four people to manage alone.

Take that, detractors!

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