Report: Trump Paid China More Than $188,000 In Taxes From 2013 To 2015
President Donald Trump paid almost nothing in U.S. taxes around the same time he reportedly paid more than $188,000 in taxes to the Chinese government over a two-year period, according to Newsweek.
Trump paid China $188,561 between 2013 and 2015 through a Chinese bank account controlled by his company Trump International Hotels Management L.L.C., according to a report published Tuesday by The New York Times. The Chinese bank account is said to be one of only three foreign accounts the president maintains, with the other two being located in the U.K. and Ireland.
Despite the account being used to pay a relatively large tax bill, the Trump International Hotels Management reportedly only declared a few thousand dollars in income. The IRS requires Americans to report income from foreign countries. It is not clear how much money flowed through the soon-to-be president's foreign accounts, according to the Times report.
- Newsweek noted that The Times previously reported that “Trump paid no income taxes for 10 out of 15 years and only $750 in both 2016 and 2017, the year he was elected president and the year he took office,” according to tax records the newspaper obtained.
- The outlet also noted that “Trump reportedly attempted to pursue a licensing deal in China for most of the decade leading up to his presidency.”
Trump International Hotels Management, the company holding the bank account that Trump paid Chinese taxes through, is said to hold direct ownership of THC China Development, a company that deals in the management of properties bearing the Trump name in multiple countries.
The Times reports that in 2017, the year after Trump was elected, THC China Development experienced an "unusually large spike" of $17.5 million in revenue, described on public disclosures as "management fees and other contract payments" and amounting to more than the combined total income of the five previous years. The same year, Trump reportedly withdrew $15.1 million from the company's capital account.