While doing business between 2013 and 2015 Trump paid $188,561 in taxes to China. He paid $750 in taxes to the US in 2016 and then 2017.
- President Donald Trump paid more in taxes to China through his business ventures between 2013 and 2015 than he did in the US in the years 2016 and 2017, according to tax records obtained by The New York Times.
- The tax records reviewed by The Times showed an account controlled by Trump International Hotels Management LLC in China "paid $188,561 in taxes in China while pursuing licensing deals there from 2013 to 2015," according to The Times report.
- Trump also operated an office in China and held a partnership with a government-controlled company in the country, The Times reported.
- "The tax records do not include details on how much money may have passed through the overseas accounts," The Times reported, "though the Internal Revenue Service does require filers to report the portion of their income derived from other countries."
- In an earlier report published by The Times analyzing Trump's tax records, the president paid $750 in federal income taxes in both 2016 and 2017 respectively.
- Alan Garten, a lawyer for the Trump Organization, told The Times that the company "opened an account with a Chinese bank having offices in the United States in order to pay the local taxes" in association with the company's business efforts.
- "No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive," Garten told The Times. "Though the bank account remains open, it has never been used for any other purpose."
- Trump has accused Democratic presidential nominee Joe Biden of being lenient on the Chinese government, citing his son Hunter Biden's business dealings in the country.
- Read the full story at The Times »
- Visit Business Insider's homepage for more stories.
Read the original article on Business Insider
Contributer : Business Insider https://ift.tt/35dYths
While doing business between 2013 and 2015 Trump paid $188,561 in taxes to China. He paid $750 in taxes to the US in 2016 and then 2017.
Reviewed by mimisabreena
on
Wednesday, October 21, 2020
Rating:
Reviewed by mimisabreena
on
Wednesday, October 21, 2020
Rating:
No comments:
Post a Comment