Report: Tax Records Show Trump Tried To Land China Projects

[Shabibilicious]

Politics

Report: Tax records show Trump tried to land China projects

 

Associated Press•October 20, 2020

 

 

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WASHINGTON (AP) — President Donald Trump spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company, The New York Times reported Tuesday.

China is one of only three foreign nations — the others are Britain and Ireland — where Trump maintains a bank account, according to a Times analysis of the president’s tax records. The foreign accounts do not show up on Trump’s public financial disclosures, where he must list personal assets, because they are held under corporate names.

The Chinese account is controlled by Trump International Hotels Management LLC, which the tax records show paid $188,561 in taxes in China while pursuing licensing deals there from 2013 to 2015.

In response to questions from The Times, Alan Garten, a lawyer for the Trump Organization, said the company had “opened an account with a Chinese bank having offices in the United States in order to pay the local taxes” associated with efforts to do business there. He said the company had opened the account after establishing an office in China “to explore the potential for hotel deals in Asia.”

“No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive,” Garten said. “Though the bank account remains open, it has never been used for any other purpose.”

Garten would not identify the bank in China where the account is held.

China continues to be an issue in the 2020 presidential campaign, from the president’s trade war to his barbs over the origin of the coronavirus pandemic. His campaign has tried to portray former Vice President Joe Biden as misreading the dangers posed by China’s growing power. Trump has also sought to tar his opponent with overblown or unsubstantiated assertions about Hunter Biden’s business dealings there while his father was in office.

As for the former vice president, his public financial disclosures, along with the income tax returns he voluntarily released, show no income or business dealings of his own in China. However, there is ample evidence of Trump’s efforts to do business there.

As with Russia, where he explored hotel and tower projects in Moscow without success, Trump has long sought a licensing deal in China. His efforts go at least as far back as 2006, when he filed trademark applications in Hong Kong and the mainland. Many Chinese government approvals came after he became president.

In 2008, Trump pursued an office tower project in Guangzhou that never got off the ground. But his efforts accelerated in 2012 with the opening of a Shanghai office, and tax records show that one of Trump’s China-related companies, THC China Development LLC, claimed $84,000 in deductions that year for travel costs, legal fees and office expenses.

The Times said Trump's tax records show that he has invested at least $192,000 in five small companies created specifically 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, the Times reported.

 

https://www.yahoo.com/news/report-tax-records-show-trump-021402565.html

 

GO RV, then BV

[coorslite21]

In 2012 Trump International Hotels open an exploratory office in Shanghai... 

 

Common business practice is when doing business in an offshore country....you open up a bank account there.....using that to pay all local Bill's and or taxes.....just how life works....

 

At one point there were plans for 20-30 Trump Hotels throughout China....that is all off the table.....as is the exploratory office.....

 

The MSM makes it out like Trump is making Billions by holding office.....this is another example of the negative financial impact being the US President has had on his businesses

...   CL

[Shabibilicious]

3 minutes ago, coorslite21 said:

In 2012 Trump International Hotels open an exploratory office in Shanghai... 

 

Common business practice is when doing business in an offshore country....you open up a bank account there.....using that to pay all local Bill's and or taxes.....just how life works....

 

At one point there were plans for 20-30 Trump Hotels throughout China....that is all off the table.....as is the exploratory office.....

 

The MSM makes it out like Trump is making Billions by holding office.....this is another example of the negative financial impact being the US President has had on his businesses

...   CL

 

I believe the point being made is that for someone such as DJT, who rails against everything China....he sure worked hard to do personal business there.  That's all.

 

GO RV, then BV

[Johnny Dinar]

4 minutes ago, Shabibilicious said:

 

I believe the point being made is that for someone such as DJT, who rails against everything China....he sure worked hard to do personal business there.  That's all.

 

GO RV, then BV

 

MACGA.... Ivanka is good with it too... How anyone believes anything coming from this guy is beyond me... JMHO

[Markinsa]

7 minutes ago, Shabibilicious said:

 

I believe the point being made is that for someone such as DJT, who rails against everything China....he sure worked hard to do personal business there.  That's all.

 

GO RV, then BV

 

Trump probably realized be would be in the CCP's pocket if he did and that is why he doesn't have any properties or businesses. Unlike Pocket Puppet Biden. I feel sorry for the fools that voted for Biden.

[caddieman]

12 minutes ago, Shabibilicious said:

 

I believe the point being made is that for someone such as DJT, who rails against everything China....he sure worked hard to do personal business there.  That's all.

 

GO RV, then BV

China grants 18 trademarks in 2 months to Trump, daughter

SHANGHAI (AP) — The Chinese government granted 18 trademarks to companies linked to President Donald Trump and his daughter Ivanka Trump over the last two months, Chinese public records show, raising concerns about conflicts of interest in the White House.

In October, China’s Trademark Office granted provisional approval for 16 trademarks to Ivanka Trump Marks LLC, bringing to 34 the total number of marks China has greenlighted this year, according to the office’s online database. The new approvals cover Ivanka-branded fashion gear including sunglasses, handbags, shoes and jewelry, as well as beauty services and voting machines.

 

https://apnews.com/article/0a3283036d2f4e699da4aa3c6dd01727

[Shabibilicious]

7 minutes ago, Markinsa said:

 

Trump probably realized be would be in the CCP's pocket if he did and that is why he doesn't have any properties or businesses. Unlike Pocket Puppet Biden. I feel sorry for the fools that voted for Biden.

 

Thank You for feeling sorry for a fool like me....Appreciated.  

 

GO RV, then BV

[coorslite21]

19 minutes ago, Shabibilicious said:

 

I believe the point being made is that for someone such as DJT, who rails against everything China....he sure worked hard to do personal business there.  That's all.

 

GO RV, then BV

 

Guess it shows Trumps ability to differentiate between the benefits of private industry vs the integrity of holding a Goverment office.... as a private citizen he might of cleaned up......as the President he  is about what's best for the country....simple enough...

CL

[Markinsa]

4 minutes ago, Shabibilicious said:

 

Thank You for feeling sorry for a fool like me....Appreciated.  

 

GO RV, then BV

 

I occasionally pray for you.  Not as much as I should. My apologies.

[Shabibilicious]

1 minute ago, coorslite21 said:

 

Guess it shows Trumps ability to differentiate between the benefits of private industry vs the integrity of holding a Goverment office.... as a private citizen he might of cleaned up......as the President he  is about what's best for the country....simple enough...

CL

 

Hmmm....imagine the power of his integrity had he divested from his companies.  

 

GO RV, then BV

[Shabibilicious]

Just now, Markinsa said:

 

I occasionally pray for you.  Not as much as I should. My apologies.

 

No apologies necessary....praying for "fools" is between you and your Lord.  

 

GO RV, then BV

[Markinsa]

2 minutes ago, Shabibilicious said:

No apologies necessary....praying for "fools" is between you and your Lord.  

 

You do make it a challenge.

 

.

[caddieman]

12 minutes ago, Shabibilicious said:

 

Thank You for feeling sorry for a fool like me....Appreciated.  

 

GO RV, then BV

Like they say down south

 

Who you calling a FOOL.......(long pause here).......FOOL!😂

[Johnny Dinar]

So much for America First.... Watch the shiny bobble....