U2 move business interests abroad

06/08/2006 - 10:40:17

U2 have moved part of their multi-million euro business out of the country to avail of a more generous tax system in the Netherlands.

A €250,000 cap on tax exemptions for artists in Ireland, which was brought in as part of the last Budget, has led to the Dublin rockers reconsidering where to base their business.

From June this year, the group began moving some of their business to the Netherlands, where they will pay virtually no tax on royalties.