Yes, as they conduct themselves like any other big business. EX: Bankers best guesses about the Vaticans wealth put it at $10 billion to $15 billion. Of this wealth, Italian stockholdings alone run to $1.6 billion, 15% of the value of listed shares on the Italian market. The Vatican has big investments in banking, insurance, chemicals, steel, construction, real estate. Dividends help pay for Vatican expenses and charities such as assisting 1,500,000 children and providing some measure of food and clothing to 7,000,000 needy Italians. Unlike ordinary stockholders, the Vatican pays no taxes on this income. Just because they are a Religious institution should have no bearing at all if the receive dividends, can invest in various things for profit, etc. and not pay taxes like you or I would.
Posted on: Sun, 23 Mar 2014 11:01:11 +0000
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