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Does the church have to pay income taxes on investment income?
Wiki User
∙ 13y ago
Which church and to whom?
The Vatican pays no tax on investment income - though this has been challenged (especially since Socialist governments have been in power in Italy) - however, officially the Holy See is a sperate country/state, so refuse to give Italy (another state) its financial records.
There have been many laws and bills - the first was the Lateran Treaty of 1929 when the Vatican handed over certain Papal States in exchange for bonds and agreements. Later (1942) a law was passed that exempted the Vatican from paying certain taxes then existing on dividends.
The Christian Democrats ruled Italy for much of the 20th Centuary and did not tax the vatican at all.
Law No. 1773-that would exempt Vatican dividends but was blocked by the Socialists.
The issue now, of course, is that Italy's economy is in a bad shape and the Holy See owns enough shares, government bonds and real estate to do some serious damage financially (dumping stocks - selling over seas - cashing bonds - and various other avenues) so it would be a foolish time to broch the subject again I feel.
Wiki User
∙ 13y ago
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