New York Times reported that Trump had invested at least $192,000 in five small companies and has a Chinese bank account that paid $188,561 in taxes.
The New York Times had earlier analyzed Trump's tax records and claimed that he had paid only $750 in the U.S. income taxes of 2016-2017. In his first presidential debate, the claim was denied by Trump and he said that he paid millions of dollars as taxes in the U.S.
According to the New York Times report, Trump's tax records had revealed that he maintained bank accounts in China and spent years pursuing business projects in the country. The documents further delineated that Trump has invested at least $192,000 in five small companies to pursue projects in China over the years. Those companies claimed at least $97,400 in business expenses since 2010, including some minor payments for taxes and accounting fees as recently as 2018.
Alan Garten, a lawyer for the Trump Organization, told the New York Times that the company had opened an account with a Chinese bank and paid local taxes to carry out business in China. He added that no deal, transaction, or business activities ever materialized, and the office has been inactive since 2015. As per the tax report, Trump had invested at least $192,000 in five small companies to pursue projects in China.