White House says Trump paid $38m in income taxes in 2005

WASHINGTON - US President Donald Trump reported more than $150 million in income in 2005 and $38 million paid in taxes that year, according to a statement released on Tuesday by the White House.

The White House released some details of Trump's tax return hours ahead of an anticipated news report, as the US cable and satellite television network MSNBC hostess Rachel Maddow said she has obtained part of Trump's 2005 tax forms and prepared to discuss the document on her Tuesday night show.

"Before being elected president, Mr Trump was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required," the White House said.

"That being said, Mr Trump paid $38 million even after taking into account large-scale depreciation for construction, on an income of more than $150 million, as well as paying tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes and this illegally published return proves just that," the White House said.

The 2005 tax rate for top earners in the United States was 35 percent, and the $38 million taxes paid by Trump made up about 25.3 percent, according to a CBS report.

Responding to the MSNBC host's announcement, the White House slapped that "it is totally illegal to steal and publish tax returns".

"You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago," White House said.

During the 2016 presidential campaign, the New York billionaire promised to release his tax returns after audit.

(China Daily 03/16/2017 page12)