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Trump paid USD 38 million income tax in 2005: White House

ANI  |  Washington D. C. [USA] 

The has said President Donald Trump earned more than USD 150 million and paid USD 38 million in taxes even after taking into account large scale depreciation for construction in response to questions about the coming publication of his 2005 return.

"The USD 38 million was in addition to paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes," CNN quoted a official as saying.

Trump had promised during the presidential campaign to release his returns - which every presidential nominee in modern times has made into a precedent - after the conclusion of a routine audit.

Trump's rival in the presidential race, and his Republican rivals sought to turn the returns into a campaign issue.

Earlier in October last year, the New York Times obtained a single year's return anonymously that showed Trump declaring a USD 916 million loss and lists benefits that he used after a turbulent financial period for him in the early 1990s. The paper, citing experts, said Trump could have used his loss to cancel out an equivalent amount of taxable for nearly two decades.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 15 2017. 11:23 IST