The $35 Million Chalet a Russian Tycoon Can’t Prove He Owns (1)

June 19, 2020, 9:22 AM

Vitaly Malkin can’t prove he owns a luxury ski chalet in France’s Courchevel region. But the Russian businessman still has to pay the taxes on it.

After a four-year court battle, Malkin, a former Russian senator, was ordered by a French court earlier this month to pay a $1.7 million tax bill on the chalet, which has been valued at 31.7 million euros ($35 million).

The case is one of several related to a 3% French tax on the value of a property designed to crack down on the use of shell companies to avoid taxes on assets in the ...

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