Tax Exempt Ruling
I am pleased to send you in attachment a copy of the favourable definitive tax exempt ruling of World Wide Web Foundation dated 11 December 2009 and received yesterday.
As you will see, World Wide Web Foundation is exempt from income and wealth taxes as well as gift and inheritance taxes at cantonal (Geneva) and federal levels from the date of its constitution and for a period of 10 years, i.e. until December 2019. Before expiry of this date, the Foundation will be entitled to request renewal of the decision.
The Foundation will have to submit to the tax authorities its annual accounts on a yearly basis (but no tax return). Any modification of its statutes or activity effectively carried out will have to be brought to the attention of the tax authorities.
Kind regards,
Benoît Merkt
LENZ & STAEHELIN