p2pnet.net New:- Two of Ireland’s 12 biggest-earning performers will, “consider permanently changing their tax residence” if a plan to scrap Ireland’s tax exemption is adopted, says The Sunday Times, Ireland, quoting from an Arts Council survey.

“Another three said they may change tax residence in years that their earnings are high”. A further three said they’d hang in but, “will have to cut back on their non-commercial activities, such as donations to charities, and giving help to aspiring artists”.

The Arts Council wouldn’t say who the performers were, but they’re “internationally acclaimed and commercially successful” and, “it is understood that members of U2 were among those interviewed,” says The Times, going on:

“Bono has already said that while the tax exemption scheme encouraged the band to stay in Ireland, they will not leave if it is abolished.

“Among the biggest beneficiaries of the scheme are thought to be Van Morrison, Enya, the Corrs, Westlife, Bill Whelan of Riverdance, the painter Louis le Brocquy, the screenwriters Jim Sheridan and Neil Jordan, and the novelists Roddy Doyle and Eoin Colfer.”

Almost half of the income exempted from tax is earned by only 2% of the artists, the story says, adding:

“Twenty millionaire artists benefited from the scheme in 2001, with one performer earning €10m that year.”

There was, “widespread anger last year when Joan Burton, a Labour TD, discovered that 11 people who earned more than €1m in 2001 paid no tax at all”.

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See:-
The Sunday Times - Artists ‘will leave if tax break goes’, July 17, 2005

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