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Arise, Sir Bono (And Pay Up)
Irish pop star and activist Bono received an honorary knighthood yesterday in a ceremony at the British ambassador's residence in Dublin.
The U2 singer was awarded the gong for his contribution to music and humanitarian aid. Because he isn't a Brit, he can't call himself Sir, but joked that members of the press might wish to consider other titles, like "lord of lords, your demi-godness."
Those who consider his hectoring of governments and industry while arranging his tax affairs to avoid contributing to those governments might be able to think of a couple more names.
Tax Research, a site dedicated to investigating how the mega-rich avoid paying taxes on their fortunes has a fascinating look at Bono's recent shift of business from Ireland to the Netherlands.
"There's no doubt" Bono's lobbying has "raised awareness", writes Richard Murphy, "But, there has always been risk in his position. Bono has accumulated personal worth of hundreds of millions... And many (perhaps most) people still think wealth comes with responsibility, especially when the owner asks for that responsibility from others."
Not content with Ireland's very favourable tax regime for artists and one of Europe's most appealling corporate tax environments, Bono and his U2 comrades have moved their business to exploit Holland's insignificant tax on royalties.
Fair enough, many EURSOC readers might say, Bono and chums aren't the only people who'd like to find ways of lowering their contributions and, besides, they aren't doing anything illegal. Many of you might disagree with Mr Murphy's conclusions on tax havens and low tax regimes for the very rich.
But not many of us have dedicated ourselves to a crusade like Bono. Paying tax, Murphy writes, is essential to development: Bono's actions leave him "well outside the development agenda... his credibility is in tatters."
