US President Donald Trump paid $38m (£31m) in tax on more than $150m (£123m) income in 2005.

Trump's partial tax return showed he paid the IRS an effective tax rate of 24 percent, below the 27.4 percent averaged by high-earning taxpayers.

Trump's partial tax return showed he paid the IRS an effective tax rate of 24 percent, below the 27.4 percent averaged by high-earning taxpayers. The claim that U.S. President Donald Trump paid $38 million in tax on more than a $150 million income in 2005 is true as per the President’s partial tax return leaked by US TV network MSNBC. On March 15, MSNBC announced that it had a copy of one of Trump's 2005 tax returns. The two pages of tax return also showed he wrote off $103 million in losses. It gave no details on income sources. The details were revealed on a show later that night, anchored by journalist Rachel Maddow.

The release showed that Trump paid the Internal Revenue Service $38 million in 2005, an effective tax rate of 24 million, which is below the stipulated 27.4 percent rate for high earning individuals.

Though the White House said publishing the tax return was against the law, Maddow argued that the network was exercising its right to freedom of speech under the First Amendment of the U.S. constitution to publish information in the public interest.

The revelation came after Trump refused to release his tax returns during the election campaign, breaking from a long-held tradition.

MSNBC said they received the document from financial journalist and Trump biographer David Cay Johnston, who received it in the post from an anonymous source.