Monday, October 3, 2011

America's rich losing tussle with taxman

Bono, lead singer of Irish band U2, performs with The Edge, left, and Larry Mullins, right, at the Glastonbury Festival in Worthy Farm, Somerset in June. Years ago the band transferred some of its assets from Ireland to the Netherlands, a tax haven.U.S. citizens are liable for U.S. tax wherever they are in the world, making it virtually impossible for them to become legal tax exiles ? a possibility open to Europeans, many of whom have set up home in tax havens.




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Source: http://pheedo.msnbc.msn.com/click.phdo?i=66fd2c1c0aa9ae34665cbfa42decfe18

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