'We would be stupid not to avoid tax' - Bono
Published 17/05/2015 | 02:30
Wealthy people who do not take advantage of overseas tax breaks are being "stupid in business", according to Bono.
The singer said the band, who have an estimated combined fortune of more than €590m, said they employ "smart people" to make "sensible" decisions about how much tax they should pay.
When asked about U2's tax affairs in an interview with Sky News, Bono said: "The smart people that we have working for us are trying to just be sensible about the way we're taxed. That's just one of our companies by the way.
"And we pay a fortune in tax, just so people know. We pay a fortune in tax and we're happy to pay a fortune in tax - people should. Because you're good at philanthropy, I think, and because I'm an activist, people think you should be stupid in business. I don't run with that."
The Edge added: "So much of our business is outside of Ireland, it's ridiculous to make a big deal about the fact that we operate outside of Ireland."