Monday, November 17, 2008

Bono the Artful Tax Dodger

Press Release: New Internationalist Magazine

U2 may have missed out on being named Best Act Ever at last week's MTV awards but Bono now has another title to make up for it: Most Artful Tax Dodger. The veteran rocker has been pocketing the tax due on his huge personal fortune. A poll by New Internationalist magazine
released today gave him top place. His prize for the title? The global justice magazine have sent him a packet of Jammy Dodger biscuits.

David Ransom, co-editor of the magazine, commented: 'Despite Bono's posturing on global justice it seems he would Do Anything to dodge paying the tax he owes. This is just one example of a global system that allows the rich to skip paying tax whilst the rest of us pick up the bill. With the economy in meltdown our readers have shown they think the time is ripe for an end to this injustice. That would be a truly Beautiful Day.'

Estimates suggest that the world's wealthiest individuals dodge over $250 billion dollars each year in tax. This far exceeds what the UN has asked for its millennium project to tackle global poverty - a cause Bono has been so closely linked to.

The runners-up in the poll were Tesco, Rupert Murdoch and the Queen.

Notes for editors:

New Internationalist is a communications co-operative renowned for its radical, campaigning stance on a range of world issues, from the cynical marketing of babymilk in the Majority World to human rights in Burma. It has over 30 years of publishing under its belt and more than 75,000 subscribers worldwide. The poll was launched to coincide with the October issue of the magazine which focussed on tax justice. Over 800 people took part in the poll. 215 voted for Bono; 175 for Tesco and 139 for the Queen. Bono's Dublin company earned $110 million in 2005. In Ireland, Bono would have had to pay only 12.5 percent corporate tax, a rate still below that of the local bus conductor or plumber. However, in 2006 he chose to shift the registration of his business to the Netherlands, where it will pay only 5 percent tax on royalties.

TJN comment: for alternative celebrity views, see here.


Anonymous Anonymous said...

bono goes on about how education and health care is a right. Where does he think the money comes from he just annoys me so much) he talked about cutting Africas debt (I am not against this but seriously he does NOT pay proper TAxs I dont feel he has the right to talk to the world like he is some sort of saint) I think rich people deserve there money after all it is not free. but being part of a society means paying taxes. I'm Irish and i am ashamed of him.

4:56 am  
Blogger Fiona said...

Bono talks about how educationa and health should be free (IT SHould be) But where the hell does he think the mONEy is comming from. He talks about how debt should be cut from Africa. I am not against this buT WHY does he think He has the right to make it out to the AFRICAN people he is helping them when it is the Tax payers who are. Who are now losing JoBS and houses and he has FiVE .I Use to be a fan not any more. When I read the the time magzine article I throught what an amazing person but he is just a fake who likes posing for pictures.

5:24 am  

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