U2, Bono don't pay taxes in Ireland?!?
Pick your favorite pun. U2 finally found the tax loophole it was looking for. Taxday Bloody Taxday. With or Without Exemptions. Their accountants move in mysterious ways. Turns out that Bono and the boys aren't paying taxes in Ireland on the fortune their band has made.
U2's $1.1 billion in net worth instead lives in offshore accounts, a fact that Bono had to defend in a recent interview with Britain's Observer. Bono admitted that some on the "cranky left" might find U2's tax dodging annoying, but insists it's "in total harmony with the government's philosophy."
At least one former government official disagrees.
"I think there is that issue about loyalty to the country you are born in and I think it would show a tremendous example to everybody if they were to bring back their tax affairs to Ireland," a former health minister told the Irish Examiner.
Don't count on it, Mr. Minister. This is one fire that will probably be forgettable soon.