Sunday, 19 October 2014

Observer letter about Bono

So the gospel according to Bono says tax avoidance is fine, as long as everyone knows about it; the "sneakiness is when you don`t know what`s going on"(The plan wasn`t to be controversial,12/10/14) Presumably, the fact that it deprives countries of money owed to it by its citizens, and means that the other residents have a bigger burden of tax to pay, or that the services the government is able to provide are less than they would be otherwise, matters not a jot. Irish people should be grateful that the transfer of U2 Ltd from Ireland to the Netherlands, to reduce the group`s tax bill, took place!
    Bono`s justification of Ireland`s "tax competitiveness" is equally disingenuous; very low rates of corporation tax, aided by scams like the "Double Irish", have, according to him, brought "the only prosperity" the country has ever had. Again, simple points that this denies other countries much needed revenue and allows companies like Amazon and Apple to be so dominant in their spheres, they can undercut rivals` prices and put them out of business, escape him. As Bono enjoys formulating "new theories", it`s a shame he doesn`t spend some time contemplating the need for a system which entails all individuals and corporations paying their fair share of taxation to the treasuries of the countries where salaries were earned and profits made. Perhaps then, we all would benefit from having "more hospitals and firemen and teachers"!

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