Bono rejects hypocrisy claims over Paradise Papers

Bono has said that there is “nothing wrong” with being an investor and an activist after his name appeared in the leaked Paradise Papers.

The U2 frontman, who campaigns for increases in taxpayer spending on international aid, faced renewed allegations of hypocrisy after he was revealed to be an investor in a company in Malta, where foreign investors pay 5 per cent tax on profits.

Bono was one of three Irish investors accused of tax avoidance, which is lawful, through a company called Nude Estates Malta, which paid £5.1 million for a shopping centre in Utena, northeast Lithuania, in 2007.

In an interview with The Sunday Times, Bono said he “believed fully” in transparency and that he did not try to hide his investments in…

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