🚀 Medial just raised $500k in Pre-Series A. Tap to read the announcement. 🎉
Login

Back to feeds

Sanskar

Stealth • 5m

Rolex, we all have heard of this premium watch brand based in Geneva, Switzerland. But do you know that despite earning $11.4 billions in revenue and a profit of $1.1 billion it pays absolutely no taxes and is not actually a private company. Well Rolex was founded by Hans Wilsdorf and Alfred Davis in London, England in 1905 which later relocated to Geneva, Switzerland. But in 1945 the father of Rolex Hans Wilsdorf established a charitable organisation named "Hans Wilsdorf Foundation" and transferred 100% shares of Rolex to this trust in 1960 which continues to own it till date. And according to the article 56(g) of the Swiss Federal Act on Direct Federal Taxation (DBG/LIFD) provides that public utility organizations, including charitable foundations, can be exempt from taxes if they exclusively and irrevocably pursue public or charitable purposes. In a nutshell, Rolex is owned by a charitable trust and thus it enjoys tax exemptions (IKEA also uses similar strategy). Thank You.

5 replies17 likes
1
Replies (5)

More like this

Recommendations from Medial

Anonymous
Image Description
Image Description

Anonymous

Stealth • 4m

Certificate of Albert Einstein, Switzerland, 1896. In Switzerland, a score of 6 is excellent.

3 replies8 likes

Skand Gupta

Stealth • 4m

I have participated in Medial's Startup Showcase with my startup Idea "Hans: Find Interest" and would love to get your vote so that I can win. Please vote for me on this link- https://medial.app/idea/hans-find-interest-8858aa08b4ea0

0 replies4 likes

CaseWise

Stealth • 5m

Discover the captivating journey of Rolex and how it became a LUXURY empire! 🏆✨ Watch the full documentary in Hindi now! 🇮🇳👇

0 replies4 likes
Image Description
Image Description

Kalpesh Badgujar

Stealth • 5m

Budget in 1-line. 6 months of salary will go in taxes and rest 6 months in expenses! #budget2024 #india

14 replies89 likes
19
Image Description
Image Description

Jaswanth Jegan

Stealth • 7m

“Rolex’s Underwater Adventure ” WEIRD Marketing Strategy #11 In 1927, a young British secretary called Mercedes Gleitze took a place in the annals of watchmaking history with a sporting exploit that brought the first waterproof watch to the world’s

See More
9 replies18 likes
2

Salawa 123

Stealth • 9d

hi an founder of atro devi charitable foundation anyone can donate some fund for our ngo we are working for education environment and many more think like health

0 replies1 like
Anonymous
Image Description

Anonymous

Stealth • 6m

🚨Breaking News - Indian-born billionaire Prakash Hinduja and three members of his family in Switzerland sentenced to over four years prison for exploiting domestic workers, including making them work up to 18 hours a day.

1 replies6 likes
Image Description
Image Description

Anu Sarveshu

Stealth • 8m

There are so much legal processess in India for a buisness to grow and huge taxes

2 replies4 likes
Anonymous

Anonymous

Stealth • 4m

The Robbery of the Federal reserve in Die Hard with a vengeance is so plausible that the FBI actually questioned the screenwriter on how he had such intimate knowledge of the vaults.

0 replies1 like
Image Description

Shiva Prasad

Stealth • 5m

Hi Guys, We know few people like Warren Buffett invested in many companies a while ago and earning huge returns*. Similarly why can't Government invest 20% in all companies and get profit of 20% instead of taxes. I think 20% of profits can be equa

See More
1 replies4 likes

Download the medial app to read full posts, comements and news.