Stones Cash In On Low Tax

THE Rolling Stones are facing criticism as a result of their staggering earnings – because they only pay 1.6 per cent tax instead of Britain’s usual 40 per cent. The rockers have earned GBP242 million ($454 million) in royalties throughout the past 20 years, but paid just GBP4 million ($7 million) to the government, thanks to their crafty Dutch accountants. The megaband have their accounts organised in Holland because the tax is extremely low in comparison to the UK – meaning the percentage they did pay didn’t even go to the British government. Had the band paid up the usual rate in the UK, they would have lost GBP97 million ($182 million). But their actions are entirely legal as they spend less than 90 days in the UK.

Source: Sticky Fingers Journal 1087, 08.08.2006