What’s a $1.4M tax bill to a billionaire? For Roman Abramovich, it’s worth suing the government

The Russian oligarch battled French tax authorities over his Cap D’Antibes mansion

TRD New York TRD WEEKEND EDITION /
Oct.October 13, 2018 02:02 PM

Roman Abramovich. (Credit from left: Heinrich Kerschbaumer, Getty Images)

You’d think 1.2 million Euros ($1.39 million) wouldn’t mean much to Roman Abramovich, but the Russian oligarch has tried what he can to avoid paying that in taxes.

French tax authorities claim Abramovich undervalued his mansion in Southern France and owes the government an additional 1.2 million Euros in wealth taxes for the years 2006 and 2007, Bloomberg reported.

Abramovich countered by suing the government, claiming it overvalued the 807,000-square-foot property, which includes a mansion and a guest house.

Overlooking the Mediterranean sea at the tip of the Cap d’Antibes, it was previously home to England’s King Edward VIII, Belgium’s King Leopold III, Egypt’s King Farouk I and shipping tycoon Aristotle Onassis.

Abramovich’s efforts were in vain: in late September a French court ruled that its assessment was accurate.

In New York, Abramovich has another home in the works. He is reportedly planning a megamansion on the Upper East Side. [Bloomberg] — Konrad Putzier


Related Articles

arrow_forward_ios
Red Apple Group’s John Catsimatidis and Muss Development’s Jason Muss (Getty; iStock)

Four Brooklyn landlords accused of illegally inflating rents

Four Brooklyn landlords accused of illegally inflating rents
A study found that NYC renters lose $178M per year due to long-term rentals being reallocated to the short-term market (Getty; Pixabay)

Airbnb costs New York City renters $178M a year: study

Airbnb costs New York City renters $178M a year: study
111 West 57th (Photo via FDNY Twitter)

Spinning crane at 111 West 57th Street casts debris on street

Spinning crane at 111 West 57th Street casts debris on street
Caliber Home Loans CEO Sanjiv Das and AmeriHome CEO Jim Furash (Photos via Caliber Home Loans; AmeriHome; iStock)

Two mortgage companies delay IPOs amid market volatility

Two mortgage companies delay IPOs amid market volatility
Denizen Bushwick at 54 Noll Street (Photos via Denizen Bushwick)

All Year nears $650M financing for Bushwick luxury rentals

All Year nears $650M financing for Bushwick luxury rentals
The decline in contract activity may signal a drop in sales in the coming months (iStock)

Pending homes sales dipped in September

Pending homes sales dipped in September
(Getty, iStock)

Refinancings drove up home mortgage apps last week

Refinancings drove up home mortgage apps last week
40 East 72nd Street and Spiros and Antonia Milonas  (Getty; Google Maps)

Under water: Shipping magnate’s troubled UES condo is bankrupt

Under water: Shipping magnate’s troubled UES condo is bankrupt
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...