Bono: U2 ‘happy to pay a fortune in tax’

Bono has defended U2’s tax arrangements, saying just because he is a debt campaigner does not mean he needs to be “stupid” with his money.

The band, which kicked off the latest world tour in Vancouver on Thursday night, have been repeatedly criticised in the past for their tax arrangements.

Nine years ago, the band moved their publishing arm to the Netherlands after the tax exemption for artists was capped at €250,000. The band had been one of the biggest beneficiaries of the scheme introduced by former taoiseach Charles Haughey.