Originally Posted by
Blogndog
In fact, I'm sure the Vatican will never choose an American Pope because suddenly all the Vaticans finances would be subject to IRS reporting requirements.
That (i.e., a pope with US citizenship) would be a very interesting situation, but there would be workarounds. The pope would be a head of a sovereign state and thus have sovereign immunity; and the case that the Pope had relinquished US citizenship (by accepting to be head of a foreign sovereign state) could be rather compelling. And unless we get another pope who resigns, the sovereign immunity of the pope would be for life.
You do have me wondering about the taxation dynamics applicable to sovereign wealth funds.