U.S. President Donald Trump's tax records show he has run extensive business projects in China for years and even has a Chinese bank account, The New York Times reported Tuesday.
Trump’s tax record analysis shows that the president holds bank accounts in China that are not included in his public financial disclosures because they are held under the corporate name. He is also reported to have bank accounts in Britain and Ireland.
The account was reportedly operated by his company, Trump International Hotels Management, and paid $ 188,561 in taxes in the country from 2013 to 2015.
While tax records do not show how much money was transferred through Trump’s foreign accounts, the Inland Revenue Service mandated the filer to disclose the share of income coming from foreign countries. The management of Trump International Hotel reported only a few thousand dollars from China.
However, Trump Organization lawyer Alan Garten told the New York Times that the firm’s office has been ‘inactive’ since 2015 and has never been used for any other purpose except to pay local taxes in China.
The tax record also shows that Trump has invested at least $ 192,000 in five companies set up to run projects in China for several years, according to the Times.
Since 2010, the companies have claimed at least $ 97,400 in expenses.
