|Posted: June 20, 2005, 12:08 pm - IP Logged|
If you win, become an artist and move to Ireland
In Ireland, all income from a "creative" work such as a novel, play or song is exempt from tax.
Ireland is left guessing as to how much or how little Bono and the members of U2 benefit. But a list of more than 1,000 artists and writers who have claimed tax-free status since 1998, released under freedom of information legislation, has caused sharp intakes of breath.
Cecelia Ahern, daughter of the Prime Minister, Bertie Ahern, who received a reputed $1m advance for her first bestseller, is exempt from tax on creative work. So are Sinead O'Connor, Elvis Costello, and the band The Thrills. Also on the list is French writer Michel Houellebecq, who won the world's richest literary prize, the €100,000 Dublin Impac award, and currently lives in Cork.