A French court has ordered a Russian businessman to pay a $1.7 million tax bill on a ski resort in the French Alps because he failed to prove he owns it. The tax is designed to crack down on the use of shell companies to own properties in the country, which can help reduce the true owner’s property tax liability, according to Bloomberg. Vitaly Malkin owns the resort through a Luxembourg-based shell company. The three
source https://therealdeal.com/2020/06/27/the-1-are-being-hampered-by-frances-anti-shell-company-levy/
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