Meet The Secretive Group Earning $8 Billion From The Olympic Games
Several times they’ve been caught taking bribes, but generally what happens in Switzerland stays in Switzerland.
The Committee is conveniently located in tax haven Switzerland.
Calling Switzerland home allows the non-profit IOC to avoid a 20% income tax, and that’s just the start, according to Play The Game’s Lars Jørgensen.
“The tax exemption is very important. I have no concrete figures on how much we save in dollars and cents. But the tax exemption means that we can spend even more money on our Olympic solidarity work,” said IOC member Gerhard Heiberg in an interview with Danish newspaper Information.
What’s more, bribery was basically legal in Switzerland until recently.
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