Washington-SANA
The New York Times revealed that US President Donald Trump has paid only $ 750 in income taxes in the first year of his presidency and has not paid income taxes in ten of the last 15 years.
President Trump paid only $ 750 in federal income taxes in 2016 and 2017 after reporting for years that his businesses had incurred heavy losses in order to balance hundreds of millions of dollars in revenue, the newspaper said in a report, citing tax return data.
The newspaper added that Trump, who rejected the report as “fake news,” did not pay income taxes within ten of the last 15 years, despite receiving $ 427.4 million in 2018 from his reality TV show and other deals.
The disclosure of this previous private tax information came a little more than a month before the presidential elections on the third of next November.
The newspaper indicated that Trump was able to reduce his tax bill by reporting heavy losses to his business empire, noting that he reported losses of $ 47.4 million in 2018, although he stated in a financial statement that year that he had achieved an income of at least $ 434.9 million.
The newspaper stressed that the documents only reveal what Trump told the government about his business and did not reveal his real wealth, indicating that it obtained tax return data covering more than twenty years for Trump and the companies within his commercial establishment.
The New York State Tax Authority announced in 2018 that it was investigating news reported by the New York Times according to which Trump helped his parents evade paying millions of dollars in taxes and that he was involved in suspicious tax activities during the 1990s, including cases of outright fraud.