Former United States (US) President, Donald Trump’s newly released tax returns has revealed his losses in business, complicated tax setups and tax payments during his time in the White House.
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| Former United States (US) President, Donald Trump. He recently declared his 2024 Presidential bid, as he plans to make a comeback to the White House |
However, as he bids for another US Presidential run, these are not likely to have a major impact on his political career, experts reveal.
A legal fight that has lingered resulted to the disclosure of the tax records, a move that Trump has criticized, warning it will cause the divide in US politics to widen the more.
According to BBC:
The documents confirmed that Mr Trump paid no federal taxes in 2020 and only $750 (£622) in 2016 and 2017.
He paid close to $1m in 2018, however.
Trump further said, the returns “show how proudly successful I have been and how I have been able to use depreciation and various other tax deductions as an incentive for creating thousands of jobs and magnificent structures and enterprises.”
