Trump 2005 tax return leaked

Dhaka,  Wed,  27 September 2017
Published : 15 Mar 2017, 10:13:22

Donald Trump tax: Leaked 2005 document angers White House

US President Donald Trump paid $38 million in tax on more than $150m income in 2005, a leaked tax return shows.

Two pages of the tax return were revealed by US TV network MSNBC on Tuesday, triggering an angry response from the White House.

It said publishing the tax return was illegal.

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 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.

The two pages show that Trump paid $5.3 million in federal income tax and an extra $31 million in what is called alternative minimum tax (AMT).

AMT was set up nearly 50 years ago to stop the wealthiest people from using deductions and loopholes to avoid paying taxes.

The $38 million bill was an effective tax rate of about 24 per cent, higher than the average American citizen would pay but below the 27.4 per cent averaged by higher-earning taxpayers.
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