ABBA routes royalties through Dutch tax system, says new book
Like the Rolling Stones and U2, Swedish pop group ABBA processes its royalties through the Netherlands to benefit from the country’s tax climate, the Telegraaf says on Friday.
The paper says the updated version of the book Het Belastingparadijs. Waarom niemand hier belasting betaalt behalve u (the tax haven, why no one here pays tax except you) shows how ABBA uses the Netherlands to reduce its tax bill and avoid Swedish taxes.
The paper does not go into further details but several companies with ABBA in the title are listed in the Dutch chamber of commerce.
Royalties in the Netherlands are not subject to tax, a loophole used by other musicians as well as companies such as Starbucks.
For example, U2 Limited is based on the Herengracht 566, the same place that the Rolling Stones have used to avoid tax since 1971.
ABBA’s members are no strangers to trying cut their tax bill. Earlier this year, another book revealed they only wore such ‘ridiculous stage outfits’ to avoid tax.
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