Ageing rockers benefit from Dutch-based umbrella company
Accountancy Age, 02 Aug 2006
The Rolling Stones, the world’s oldest and arguably most successful rock band – bar the Beatles – has paid just £3.8m in taxes in two decades of music making and touring.
According to The Independent, Mick Jagger and company, earned a whopping £240m over the last 20 years, but paid just 1.6% of this back in taxes because the band’s parent business entity, Promogroup is based in the Netherlands.
The band's tax rate is so low because there is no direct tax on royalties in the Netherlands, unlike in other countries.
Since 1972, the Stones have been putting all their royalties into the Netherlands.
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