After a long legal battle, Donald Trump’s tax returns were finally released on Friday, showing in particular that the former US president paid very little income tax in the first and last years of his presidency. , reported CNN.
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Long kept secret, the statements were released by a parliamentary committee of the House of Representatives.
“The Democrats should never have done it, the Supreme Court should never have approved it, and it’s going to lead to horrible things for so many people,” Donald Trump said in a statement after the release.
“The ‘Trump’ tax returns once again show how proudly I have succeeded and how I have been able to use depreciation and various other tax deductions to incentivize the creation of thousands of jobs and magnificent structures and businesses,” he added.
The statements indicate, among other things, that the ex-president had declared significant losses before and during his presidency from 2016 to 2020, which enabled him to reduce or even almost eliminate his tax burden. He reported a loss of US$105 million in 2015, US$73 million in 2016, US$45 million in 2017 and US$23 million in 2018, according to the American media.
According to the Joint Committee on Taxation (JCT), Mr. Trump would have declared several questionable elements in his declarations, including high amounts of interest which he claims to have received for loans to his children. According to the bipartisan committee, this could imply that the Republican was hiding gifts.
For example, Donald Trump said he received US$18,000 in interest on a loan for his daughter Ivanka, but he also claimed US$8,715 in interest from his son Donald Jr and US$24,000 from his son. other son Eric.
Foreign bank accounts
The tax filings also proved that Donald Trump had declared foreign bank accounts between 2015 and 2020, including an account in China which was held from 2015 to 2017.
The latter account was reported in 2020 by the New York Times and was linked to the growth of Trump International Hotels Management in the Asian country.
Recall that the tax returns had been obtained a few weeks ago by the parliamentary committee led by the Democrats.