AMSTERDAM, Netherlands, Aug. 2 (UPI) -- Britain's Rolling Stones raked in $152.5 million last year, but thanks to offshore investing, paid only 1.6 percent in taxes, it was reported Wednesday.
The legendary rock group practices in Canada and has had all of its finances handled in the Netherlands since 1972 to avoid paying high British taxes, the Independent reported.
The tax rate is so much lower in the Netherlands because it does not place a direct tax on royalties, the newspaper said.
The musicians have always kept their financial information close to the vest, but the aging rockers have been working on their wills and Dutch law requires certain information be made public as part of the process.
