Did the Watchtower almost just go bust?

TimothyT

Taken from the Watchtower Media Website today:

Maybe im reading this wrong!!!

http://www.jw-media.org/fra/20110630.htm

In total, the French government sought to obligate the Association of Jehovah’s Witnesses of France to pay 58 million Euros (over $82,000,000 US), which far exceeds all the assets of the Association. No other major religion in France has ever been submitted to such excessive taxation.

"All the assets of the association"?

Is this true, or is it just a sob story to make the organisation look victimised? I was certain the organisation was worth a lot more than that. Those properties situated in New York look like prime real estate to me!

The tax threatens the survival or “at least seriously interfered with the internal organization, the operation of the association and its religious activities.”

Sheesh! That was a close one wasnt it!!! Again, sob story?

Thoughts?

Timmy xxx

mochamint22

Mad Sweeney

The Watchtower has separate corporations all over the world (they have at least three in the USA alone). That way when any one of them are hit with a suit or taxes or some such thing, the super-wealthy, multi-billion dollar American corporation remains unscathed. The French government was going against the French Borg. It may have bankrupted that corporation - maybe not - but the worldwide conglomeration is worth many billions and could easily re-establish a new corporation if their current one in any country went bust.

serenitynow!

Just the association in France. I'm sure they have things set up so that every country (branch) is compartmentalized. Isn't that why they have all these other names/corporate entities? So what happened, how much will they have to pay?

TimothyT

Interesting, clever, sly!

Can you imagine then what would happen!

No more French JW's!!!

"Sorry freurs, we cannot care for your spirituality anymore! Move to Germany or Spain! Lol!

Tim xxx

Mad Sweeney

The Borg won the case, serenity. The French government lost. Borg gets off free this time.

betterdaze

far exceeds all the assets of the Association

Association = Whatever false front "shell" corporation they set up in France. Not including global assets and off-shore accounts, and despite the real estate holdings in NY.

No other major religion in France

What an overblown estimate of themselves. Like they're up in numbers or social/political influence with legitimate religious faiths.

~Sue

Resistance is Futile

What was the case about?

Mad Sweeney

It was basically just a money grab by the French government. They went about it every bit as half-assed as the Russians went after the Borg. I'm becoming convinced that bureaucrats are the same no matter what language they speak.

jwfacts

The Watchtower is a multi billion dollar organisation. $58 million is nothing more than an inconvenience. Even in France they would have more than $58 million just in the value of the kingdom halls. However, these are owned under different corporations. The Association of Jehovah’s Witnesses of France is just one of the Watchtower corporations in France, probably the one that owned the branch there and submited income statements for the value of donations and book sales.

Did the Watchtower almost just go bust?

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