Trump maintains a Chinese bank account

Tax records show Trump maintains Chinese bank account


President Donald Trump's tax records show he has pursued expansive business projects in China for years and even maintains a Chinese bank account, The New York Times reported Tuesday, disclosures that deal a blow to the President's efforts to paint Democratic nominee Joe Biden as the presidential candidate who is soft on China.

An analysis of Trump's tax records by the Times shows that the President holds a previously unreported bank account in China that was not included on his public financial disclosures because it is held under a corporate name. Trump also maintains bank accounts in Britain and Ireland.

Trump Chinese bank account, the newspaper said, is controlled by
Trump International Hotels Management and
it paid $188,561 in taxes in the country from 2013 to 2015.​

While the tax records don't show how much money has moved through Trump's foreign accounts, the Internal Revenue Service mandates that filers disclose the portions of their incomes coming from foreign countries. Trump International Hotels Management reported only a few thousand dollars from China.

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the President's tax records show he has invested at least $192,000 in five companies established to pursue projects in China over multiple years, according to the Times. Since 2010, the companies have claimed at least $97,400 in expenses, the newspaper said. The new details gleaned from Trump's tax records build on a previous New York Times report that detailed how the President paid no federal income taxes whatsoever in 10 out of 15 years beginning in 2000 because he reported losing significantly more than he made. In both the year he won the presidency and his first year in the White House, Trump paid just $750 in federal income taxes, the Times reported.


https://www.cnn.com/2020/10/20/politics/trump-china-taxes-financial-records/index.html