Tax Returns of Donald Trump Shows he had bank accounts in China, UK and Ireland while he was president

Tax Returns of Donald Trump Shows he had bank accounts in China, UK, and Ireland while he was president

Former US president, Donald Trump had accounts in China, the UK, Ireland, and St. Maarten during his time in office. His tax returns shows that in his first year in office, he paid more foreign tax than US tax.

Trump’s international financial interests were still quite strong in 2017, according to the tax returns made public by the House Ways and Means Committee on Friday, December 30; he paid more than $1m in taxes to other nations that year. But at the same time, his domestic efforts to shield himself from taxes were in full swing too, and he paid less than $1,000 for the year in federal income taxes.

Trump and his wife Melania’s private information was removed prior to the publication of the House Ways and Means Committee’s public report and the redacted PDF files of the documents themselves. The records cover five years of Donald Trump’s life in total, from 2015 to 2020.

 

When Trump made his first (serious) run for the White House in 2015, his tax returns for that year showed that he had bank accounts in five different nations. These nations included the US, China, the UK, Ireland, and St. Maarten. The tax records revealed that three of those (plus the US) reflect places where the Trump Organization owns or manages buildings.

According to the documents, the St. Maarten account was closed in 2016, and the accounts in China and Ireland would follow a year later.

Trump’s tax filings show that while frequently criticizing China, he continued to have commercial interests there while he was president.

Upon leaving office in 2017, the former US president transferred the management of his corporation to a blind trust run by his grown children.

After years of legal battles between Trump and the Democratically controlled House of Representatives, which he lost in every instance, including at the Supreme Court, Trump’s tax returns were made public.