On 19 June, Bloomberg reported that Vitaly Malkin, 67, cannot 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 4-year court battle the former Russian senator was ordered by a French court to pay a $1.7 million tax bill on the chalet, which has been valued at €31.7 million. Malkin had used a Luxembourg vehicle to buy the chalet designed to prevent the wealthy from getting out of paying France’s traditional wealth tax. He made his fortune as the co-founder of a bank in the early 90s, briefly one of Russia’s biggest.


If you would like to say thanks by making a small contribution, in case I need to upgrade or replace my computers and other paraphernalia, I have a page at

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s