Biodun Iginla, BBC News

Biodun Iginla, BBC News
Showing posts with label Donald Trump tax situation. Show all posts
Showing posts with label Donald Trump tax situation. Show all posts

Tuesday, March 14, 2017

BREAKING: Donald Trump tax: Leaked 2005 document angers White House


  • Mar 15, 2017  02H:27  GMT/UTC/ZULU TIME
  •  
  • From the sectionUS & Canada
Donald Trump at the White House. 13 March 2017Image copyrightAP
Image captionPresident Trump has refused to release his tax returns
by Rachel Rubin and Biodun Iginla, BBC News, New York
US President Donald Trump paid $38m (£31m) in tax on more than $150m (£123m) income in 2005, a leaked tax return reveals.
Two pages of the tax return were revealed by US TV network MSNBC, triggering an angry response from the White House.
It said publishing the tax return was illegal.
Mr Trump refused to release his tax returns during the election campaign, breaking with a long-held tradition.
The two pages were a fraction of the complete return and did not include details of Mr Trump's income.
Correspondents say the leak is still significant because so little is known about President Trump's tax returns and the new information will increase pressure on him to release more.
Although leaking federal tax returns is a criminal offence, MSNBC host Rachel Maddow argued that it was exercising its First Amendment right to publish information in the public interest.
Journalist David Cay Johnston, interviewed on MSNBC, said he had received the documents in the post from an anonymous source.
In a statement issued before the broadcast, the White House said: "You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago."
It said Mr Trump had a responsibility to pay no more tax than was legally required.

Related Topics

Thursday, February 25, 2016

Mitt Romney questions Donald Trump tax situation


  • 9 minutes ago

Republican presidential nominee and former Massachusetts Governor Mitt Romney speaks at a campaign rally in Des Moines, Iowa, on 4 November 2012.Image copyright Reuters
Image caption Mitt Romney faced his own questions about tax during his 2012 Republican campaign
Republican presidential frontrunner Donald Trump has a "bombshell" hidden in his tax returns, the party's 2012 nominee Mitt Romney has warned.
Mr Romney says the billionaire was "dodging and delaying" on releasing his returns, which could shake up the race.
Mr Trump has hit back calling the former governor "one of the dumbest and worst candidates" Republican history.
Donald Trump swept to victory in Nevada on Tuesday, his third straight win in the Republican race for nomination.
The 69-year-old easily defeated his rivals, Marco Rubio, Ted Cruz, John Kasich and Ben Carson, ahead of the all-important "Super Tuesday" next week when 11 states are due to decide on their party candidates and a quarter of all nominating delegates are up for grabs.
Republican presidential candidate Donald Trump speaks at a caucus night watch party at the Treasure Island Hotel Casino on 23 February 2016 in Las Vegas, Nevada.Image copyright Getty Images
Image caption Donald Trump's estimated worth is $4.5bn (£3.2bn), though he says the figure is much higher
All five Republican candidates are set to square off in another presidential debate in Houston, Texas, later on Thursday.
"I think we have good reason to believe that there's a bombshell in Donald Trump's taxes. I think there is something there," Mitt Romney told Fox news on Wednesday.
This is because, he said, every time Mr Trump is asked about his taxes "he dodges and delays".
"We could find he doesn't have anywhere near as much income as we might think he would have with a $10 billion net worth, or he doesn't pay any taxes or he pays very, very low taxes," Mr Romney added.
The former governor of Massachusetts, who has yet to endorse a Republican presidential candidate, came under scrutiny from Democrats about his own financial dealings and taxes during his failed 2012 campaign.
Under intense pressure, he ended up releasing two years' worth of tax returns at the start of the primary race that year.
Donald Trump, who endorsed Mr Romney in 2012, was quick to respond to the comments in a series of tweets: "Mitt Romney, who totally blew an election that should have been won and whose tax returns made him look like a fool, is now playing tough guy."

Tweet reads: Image copyright Twitter

Tweet reads: Image copyright Twitter

Mr Trump says he will release his tax returns - which he says "are extremely complex" - eventually, amid calls to do so from his rival, Texas Senator Ted Cruz.
Forbes estimates the real estate mogul's net worth to amount to $4.5bn (£3.2bn), though he himself puts the figure much higher at $10bn.
Mr Cruz, Ohio Governor John Kasich and Florida Senator Marco Rubio have all vowed to release their tax returns soon.