Mick Jagger and Keith Richards’ company generates £140m with minimal tax

Mick Jagger and Keith Richards holding company Promogroup BV, has amassed a substantial income of at least $180 million (£142 million) over the span of nine years. 

The tax paid by the company amounts to less than 1 percent of this total revenue.

Since 2013, The Rolling Stones company has quietly accumulated millions in earnings, according to the records. 

In the most recent filing, submitted in March of this year, the company’s directors disclosed that their ‘receivables’ for the period spanning January to December 2021 reached $25 million. 

However, the tax paid during this time period amounted to a mere $213,000 (£168,000).

According to calculations spanning back to 2013, Promogroup has accumulated receivables totaling $180.9 million while the tax paid amounts to a mere $1.53m, equivalent to a tax rate of approximately 0.84 percent. 

There is no indication that Promogroup BV is acting unlawfully in its tax payments, and the individual tax liabilities of Mick Jagger and Keith Richards are not disclosed.

BV manages the financial affairs of Mick Jagger, Keith Richards, and the estate of the late drummer Charlie Watts, while guitarist Ronnie Wood handles his own tax matters.

The band has a history of seeking legal avenues to minimize their tax obligations, dating back to 1971 when they entered tax exile after discovering a significant tax debt to HM Revenue and Customs.