The New York Times obtained Donald Trump’s tax return between 2000 and 2017, after over four years the U.S. President rejected, even when he was a candidate in the 2016 elections, the disclosure of those documents.
According to what The New York Times found in those documents, Donald Trump only paid $ 750 (645 euros, at the current exchange rate) on his earnings in 2016, just like his first year at the White House. In addition, that newspaper reports that, in the 15 years leading up to the previous election, there were 10 in which the now President of the USA did not pay any income tax.
In 2017, while it paid $ 750 in the U.S., the Trump Organization’s overseas business led the U.S. President to pay higher sums across borders, like $ 156,824 in the Philippines, 145,400 in India or 15,598 in Panama.
The same documents demonstrate that Donald Trump received a tax refund of 72.9 million dollars (62.5 million euros) in 2010. This transfer is under audit and, according to that newspaper, if it is determined that Donald Trump did not have the right to that reimbursement he will have to pay more than 100 million dollars (86 million euros) in return.
The New York Times article also states that the Trump Organization – the company that includes the business activities of the President of the United States and his family and that, contrary to what is regularly suggested, is dispersed in more than 500 entities – and the its various businesses showed losses over several years, the result of several expansions to different branches of business and areas of the world.
In declaring these losses together with his salary of 600 million dollars per year (515 million euros) for presenting the reality-show “The Apprentice,” Donald Trump ended up not having to pay taxes on income.
“This equation is the key element of Trump’s alchemy of finance: using the proceeds of his fame to buy and leverage risky businesses and then brandishing those losses to avoid taxes,” writes The New York Times.
This balance is not new and refers to past investigations disclosed in the media Americans, in particular The New York Times. In a face-to-face debate with Hillary Clinton in 2016, ahead of that year’s elections, the Democrat confronted Donald Trump with this question, the then Republican candidate replied, “That makes me smart.”
On top of his companies’ losses, Donald Trump also declared several personal expenses as business activities, thus deducting them from his taxes. These expenses include spending on parties, air travel, stays in luxury homes and even payments of $ 70,000 to hairdressers.
The Trump Organization lawyer responded to The New York Times saying that “most, if not all, of the facts appear to be inaccurate.” “Over the past decade, President Trump has paid tens of thousands of dollars in personal taxes to the federal government, including paying millions of personal taxes since he announced his candidacy in 2015,” said Trump Organization lawyer Alan Garten .