Bono has spoken out in defence of U2's strategy when it comes to tax.

The band moved some of their financial affairs from Ireland to Holland in 2006 after tax breaks for artists in their home country were capped.

Singer Bono has also come under allegations of hypocrisy as he is well-known for campaigning for equality and anti-poverty.

Speaking to Sky News, the Irishman said that his philanthropy shouldn't have a direct impact on U2's tax affairs, which is seemingly above board.

He said: "It’s just some smart people we have working for us trying to be sensible about the way we’re taxed. And that’s just one of our companies, by the way. There’s loads of companies.”

"And we pay a fortune in tax. Just so people know, we pay a fortune in tax; and we’re happy to pay a fortune in tax, people should."

Guitarist The Edge meanwhile added: "So much of our business is outside Ireland. It’s ridiculous to sort of make a big deal about the fact that we operate outside of Ireland.”

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Watch The Edge fall off stage as U2 opened their latest world tour this week: