Paradise Papers: Tax havens alive with the sound of music

Greetings! You’ve probably become accustomed to finding rich people people, politicians, and luxury items such as jets and yachts in offshore tax havens. But how about your favorite music memories? Today we look at the music industry’s link to offshore finance through music rights held in tax havens.

There were also a number of celebrities found in the Paradise Papers. Take, for example, Justin Timberlake, who was linked to an offshore company that bought property in the Bahamas. The ICIJ team.

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The Isles Are Alive With The Sound of Music A Jersey-based company owned the publishing rights to 26,000 songs, including classics such as "Louie, Louie," and "Country Roads,” and songs by Sheryl Crow, Bob Marley and Avril Lavigne. Between 2007 and 2014, the company paid no tax on income generated by the catalog, but it did make, on average, $4.6 million a year in royalties.

Meet The Stars In Paradise Files from Malta reveal that U2’s Bono was a shareholder of an organization that bought a shopping centre in Lithuania. The company was transferred to Guernsey where it wouldn’t be charged tax on corporate profits. Alongside Bono in the Paradise Papers were stars such as Shakira, Nicole Kidman and Justin Timberlake.