Bono was an investor in a company on Malta, where foreign investors pay just 5 per cent tax on profits NICOLAS KOVARIK/GETTY IMAGESBono, the frontman of the Irish rock band U2, used a company based in Malta to buy a Lithuanian shopping centre that is being investigated by tax authorities. The singer, a campaigner for increases in taxpayer spending on international aid, faces renewed allegations of hypocrisy after he was revealed to be an investor in a company on the island, where foreign investors pay 5 per cent tax on profits. His involvement in the business continued after the ownership was transferred to Guernsey, where no tax is paid on company profits. Bono, 57, was one of three identified investors in a company called Nude Estates Malta that paid £5.1 million for a shopping centre in Utena, northeast Lithuania, in 2007. In 2012 ownership of the centre…

Source: The Times November 06, 2017 00:04 UTC