As President Donald Trump condemns companies doing business with China – now it’s clear: Before his presidency, he had a company account of his own in the country. And Beijing apparently paid quite a bit of taxes.
The New York Times shed new light on US President Donald Trump’s past business endeavors in China, reporting the existence of a previously unknown account there. It does not appear on publicly available lists of Trump’s personal assets because it is operated under the Trump International Hotels Management company name, the paper wrote Tuesday (local time), citing tax documents. In the past, Trump has been critical of American companies doing business in China.
In China taxes paid of about $ 190,000
The newspaper also reported on bills in the UK and Ireland. These went through companies that operate Trump’s golf courses in Scotland and Ireland. It is unclear how much money has flowed through the foreign accounts. According to the paper, there are tax returns from Trump and hundreds of his companies from more than two decades.
The account in China was set up after the company opened an office there to “investigate the potential for hotel deals in Asia,” said Alan Garten, attorney for the New York Times Trump Organization. The account has never been used for any other purpose. From 2013 to 2015, the company is said to have paid about $ 190,000 in tax in China, according to the documents.
Trump withholds tax returns
The New York Times had previously reported that Trump paid just $ 750 federal income tax in 2016 and 2017, though the former entrepreneur always brags about his wealth. Usually, presidential candidates publish their tax returns during election campaigns. Trump has not done this so far and justifies it by the fact that the tax authorities have checked his books.
In view of the Nov. 3 presidential election, the Republican has tried time and again to portray his Democratic challenger Joe Biden as too weak against China. Biden had voluntarily published his tax return. These indicated that there were no business relationships with China.