Dance trio Swedish House Mafia created an offshore company in the British Virgin Islands where it held the ownership to the band’s name, logo and music tracks.
-- set up the entity through another offshore company on the island of Nevis, Marsham LLC, which in turn is controlled by a wealth adviser in Switzerland, SVT reported. Initially, the plan was to name the company Swedish House Mafia Ltd., but officials in the British Virgin Islands wrote that"mafia" was"not acceptable for use in a company name," SVT reported.
In addition to “Don’t You Worry Child,” the group’s biggest hit, the entity also reportedly contained the rights to “Save the World.” Music copyrights are easy to move between countries and well-suited for tax planning -- but also for possible tax evasion.
The spokesperson added the company probably never withdrew any money. “The purpose of the company was not to evade tax,” the spokesperson added in the statement to SVT. (A spokesperson did not respond to requests for comment from
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