Bono dropping investment in Lithuania
Bono, the leader of the Irish rock band U2, has announced plans to give up his investment in a supermarket in Lithuania.
His move came in response to reports about the company, which operates the Aušra supermarket in Utena, eastern Lithuania, paying around 34,000 euros in profit tax and 19,000 euros in fine to the state budget for 2012 in line to recommendations of a tax administrator.
"I fully support the tax authority's inspection, and am thankful it's now complete. It is my understanding that Nude Estates has now voluntarily made a payment to cover a technical error in a 2012 filing," said Bono.
"Though no wrong-doing by the company has been suggested by the revenue, I am not happy that it took the inspection to reveal this error so I have instructed my advisers to end my investment in the company that I had no hand in running," the Irish singer said.
The Lithuanian State Tax Inspectorate (VMI) has provided no comment on the details of the probe that was closed at the end of 2017.
Bono's investments in Lithuania and the tax probe was first reported by 15min.lt news portal, which takes part in the Paradise Papers research. The musician's comment was published in Britain's The Guardian.
Bono owned a stake in a Maltese company, which purchased the supermarket in Utena via mediators in Lithuania in 2007. The U2 singer said he was a passive shareholder.
Bono, whose real name is Paul David Hewson, has gained international recognition for his efforts to reduce poverty via his charitable organization.