The paradise papers and trade in music rights

The paradise papers and trade in music rights

Graphic: TP

Control bulk models do not protect from losses

For a week, not only media, but also interested burgers have been dealing with the so-called "Paradise Papers": 1.4 terabytes of data on how celebrities can save controls by offshore service providers and law firms such as Estera and Appleby in 19 Financial Oases, which must pay less prominent contemporaries (cf. Parasite papers. Very much attention is the prominent musician Paul David Hewson Alias "Bono vox", which had shown particularly striking as a virtue signalerizer and representatives of a juste milieu.

The Paradise Papers contained that he has several mailbox companies and has invested Via Malta and Guernsey in a shopping center in Lithuania Suddeutsche Zeitung According to since 2007 "NO CENT Taxes on corporate profits" paid, though it "between 2013 and 2016, around 100 000 euros profit should have made". The management of the prominent did not deny the investment on request, but tried to distract the indication that the accusation of tax assets "categorically wrong" may be. Nobody had raised this straw man accusation.

Bono vox

For telepolis readers, the actual new premieges against Bono VOx had been less surprisingly surprising, when Reinhard Jellen pointed out ten years ago that Catholic relocated his musical mega parent to the tax-loading Netherlands, as his home of Ireland of coarse earners a coarse share wanted to call for revenue. His commitment to Africa was also related to demands for the privatization of natural monopolies and the "Protection of intellectual property", For its expansion Bono Vox 2006 a petition signed. "The proposal of the US Finance Minister John W. Snow to use Bono as Prasident of the World Bank", So Reinhard Jellen then, "Acts in this light not seem so unusual, as he looked at first glance" (see. CUI Bono Vox?To).

The Causa Bono is not the only case with music cover: until 2014, there was a company on the zero percent corporate tax island Jersey, which offered its prominent customers to control the investment in a catalog with music rights. The investors conceded the tanties from the exploitation of the stucco, which took place practically exclusively outside of Jerseys, but there was not tax effectively.

Sheryl Crow

The company First State Media Works Fund I, which also invested in pension funds, had founded a subsidiary also registered in Jersey: the FS Media Holding Company Limited, which she likes to manage a music publisher approached in Ireland. In 2009, the company construct constructed for about $ 14 million since 2007 acquired the rights to 153 impressions of the then popular American sanger Sheryl Crow. In the years afterwards you built the catalog to around 26.000 stucco different musicians.

After that, the popularity of Sheryl Crow and other relative sirlines were back – and with her revenue fell from the catalog. PricewaterhouseCoopers already calculated in 2011 a decline in the catalog value of 153 to $ 75 million of US dollars. In 2014, one sold the catalog then only 300 million US dollars to a company called Reservoir Media Management Inc., which register in Delaware – a US state, which appears frequently in connection with dubious company constructs due to the legal conditions offered there.

Intellectual rights and control ceremonies

Also outside the music plays intellectual rights (Vulgo: "Intellectual property"In case of complex tax avoidance models larger companies a central role. How to transfer profits from countries with high levels of control in Landers with low tax rates, Telepolis author has already explained Christoph Jehle in 2013 (see. As "intellectual property" and control oasis associated with):

At the control saving model "Double Irish With A Dutch Sandwich" Payments would like that in every tangent country the highly possible tax reduction is achieved. So the European Google advertisers receive their account for Google’s services through the Google Ireland Ltd. However, the elusive is not taxed in full in Ireland, because from the worry, Google Ireland has to pay licensors to Google Netherlands Holdings BV. And only from what remains with the Irish daughter must have 12.5% bodyship tax. However, from the Dutch holding, however, the money is back to another Google holding on the green island, which has its tax seat at the location of its ownership in the Bermudas and is therefore not taxable in Ireland so far. This Google subsidiary manage the Group’s global revenue and protects you before accessing US taxabilities. And since these profits are not taxable in Bermuda, the Group in the Caribbean is now a huge might.

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