[Tony-GB]

Originally Posted by Tools

No, that is not exactly true.

Rolex is a Foundation Trust. As such the exact details are private and need not be disclosed (and they are not) whereas a Charity does disclose because of their non-tax status.

Foundations are set up with certain provisions that must be met to maintain their status with tax deferments, or tax write-offs (different countries have different requirements). Some of those things in the Foundation requirements are thought to be...

Thanks Larry