Government Doesnt Know Who Owns 40 of Real Estate

The Moscow Times
Friday 11th October, 2013

The government does not know who owns about 40 percent of all real estate in Russia, creating a massive blind spot that could obstruct the Finance Ministry’s proposal to bring in a tax on real estate, Vedomosti reported Thursday, citing the Federal Tax Service. The problem has cropped up because the state agency that tracks realty ownership has no information from before 1998, while its Soviet-era predecessor did not keep serviceable records, said Anna Strezhneva, a legal expert from KPMG. “It is an illusion that the technical inventory bureaus have information about property rights. You nee…

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