Bono counters claims he and U2 shielded millions of pounds in overseas tax havens

The musicians labelled the accusations 'ridiculous'

Bono (AFP/Getty)

Bono has responded to accusations that U2 attempted to protect millions of pounds of their fortune in overseas tax havens.

He insisted that not only have the band forked out millions in taxes over the years, but that it was financially “sensible” for them to move large amounts of their wealth to the Netherlands.

Speaking to Sky News, he said: “It is just some smart people we have working for us trying to be sensible about the way we are taxed.

“We pay a fortune in tax, a fortune, just so people know, and we're happy to pay a fortune in tax.

“Because you're good at philanthropy and because I am an activist people think you should be stupid in business and I don't run with that.”

His bandmate, guitarist The Edge, said it was “ridiculous” to make such a big deal out of the Netherlands account because so much of their business was outside of Ireland.

U2, who have just started their first tour in four years, enjoyed the spoils of the highest grossing string of shows in history with their last stadium tour.

Meanwhile, Bono is still recovering from the injuries he suffered after he fell off his bicycle in New York last year.

“I just feel so stupid,” he said.

“I did make a mess of myself but I'm strong now and feel good.”