Donald Trump, a former US president, had accounts in China, the UK, Ireland, and St. Maarten during his time in office. According to his tax returns, 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. He paid less than $1,000 in federal income taxes for the entire year due to his domestic efforts to avoid paying taxes at the same time.
In 2015, when Trump launched his very first (real) bid for the White House, he held bank accounts in five countries listed on that year’s tax returns. Those countries included the United Kingdom, Ireland, St Maarten, the US, and China. Three of those (plus the US) represent regions where the Trump Organization owns or runs properties, the tax documents showed.
The St Maarten account was shut in 2016, according to the documents, while the accounts in Ireland and China would close down a year later.
According to Trump’s tax returns, his business interests in China did not take a back seat while he was president despite condemning China regularly.
The ex-US president put his company in a blind trust controlled by his adult children upon taking the presidency in 2017.
Trump’s tax returns were made public after years of legal batlles between him and the Democrat controlled House of representatives, all of which he lost, even at the Supreme court.