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.
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