Dutch charities spent almost €3bn in 2007 but put €2.4bn into savings accounts, Trouw reports on Tuesday.
Of that €1.7bn was not invested in stocks or investment funds and might awake the interest of the tax office, says Marnix van Rij of tax advisory firm Ernst & Young.
Charities reserves have grown by over €500m since 2003. ‘Organisations without a good story to tell will have to deal with the tax office,’ Van Rij warns.
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