Protest at U2's tax exile status

U2 performing at the Brit awards earlier this month. A protest was held in Dublin today over the band's decision to move their tax affairs to the Netherlands

Protesters have demonstrated outside the Department of Finance against U2’s decision to move their tax affairs to the Netherlands to avoid paying tax on their royalties in Ireland.

The protest was organised by the Debt and Development Coalition Ireland (DDCI) which campaigns on issues related to the developing world. The coalition contains such organisations as, Trócaire, Oxfam and various Catholic missionary orders.

U2 moved their publishing arm to the Netherlands in 2006 after the Government capped tax-free earnings for artists at €250,000. Previously, U2 had been one of the biggest beneficiaries of Ireland's tax-free status for artist royalties.

Accounts for 2007 for U2 Ltd show the band paid out more than €21 million in wages in 2007 in a relatively quiet year where they were not touring