how do you pay just 1.6% on your earnings?
if you’re the rolling stones, you run the money through offshore trusts in holland and the caribbean.
over the past 20 years, london’s daily mail reports, have paid 3.9 million pounds sterling on 242 million pounds in earnings. [1 british pound = us $1.90]
here’s how: their funds have been invested in holland, where there’s no tax on royalties.
the news only came out after keith richards’ fall from a fiji coconut tree got the group thinking about estate planning. so they set up a couple foundations in holland, which requires some limited disclosures.
u2 has now hired the same dutch financial adviser.
well, i guess mick’s time spent at the london school of economic didn’t go to waste!
hat tip to phyllis bernstein at www.pbconsults.com for the item.