USA / Trump or his companies paid more taxes in India than he did in US in 2017: Report

Zoom News : Sep 28, 2020, 03:13 PM
Washington: Donald Trump paid just $750 in federal income taxes in the year he was elected US president and also in his first year in the White House, according to a media report, which also said that he or his companies paid $1,45,400 taxes in India in 2017.

Mr Trump entered the 2016 presidential race as a Republican and was elected in a surprise victory over Democratic nominee Hillary Clinton.

The New York Times report claimed that in 2017 Trump paid $750 in federal income taxes in the US, while he/ his companies paid $1,45,400 taxes in India. 

"Donald J Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750," the New York Times reported on Sunday, citing tax return data extending over 20 years.

The report came just days before Donald Trump's first presidential debate with Democratic rival Joe Biden on Tuesday and weeks before the November 3 presidential election.

Trump paid no income taxes at all in 10 of the previous 15 years - largely because he reported losing much more money than he made, the report said.

Trump immediately described the report as "fake news" and added that the true figures would be "revealed". 

The report can cause a major blow to Trump's chances of becoming US president for another term as just a little over a month is left for the elections in the US.

US presidents are not required by law to release details of their personal finances, but every one since Richard Nixon has done so. Trump, who has fiercely guarded his tax filings, is the only president in modern times not to make them public.

He has, in fact, fielded court challenges against those seeking access to his returns, including the US House, which is suing for access to Trump's tax returns as part of congressional oversight.

Trump has already faced a lot of criticism over his response to the coronavirus pandemic that has worst-impacted the US and for his inability to resolve racial tensions across the country.

The report has also said the US president has not paid any federal income taxes in 10 of the previous 15 years before he came to power over the claims that he lost more money than he profiteered. 

Trump also used deductions aircraft, residences, that includes $70,000 in hairstyling for TV appearances, the report said.

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