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A Former Hotel Partner Alleges the Trumps Evaded Taxes in Panama
Source: New York Times
A Former Hotel Partner Alleges the Trumps Evaded Taxes in Panama
By Ben Protess and Steve Eder
June 3, 2019
The owners of a luxury hotel in Panama City that ousted the Trump Organization as property managers last year accused it on Monday of evading taxes in Panama and creating a “false light” around the hotel’s finances.
The accusations, made in a legal filing in Manhattan federal court, are fraught with potential diplomatic and legal complexities for President Trump, as they essentially assert that his family business cheated a foreign country’s government.
The Trump Organization, the filing alleges, “also made fraudulent and false claims to the Panamanian tax authorities” to “cover up its unlawful activities.” This was originally detected during an audit last year by Panamanian tax authorities, according to the filing.
It was not possible to immediately verify the accusations in the filing, which include claims that the Trump Organization failed to pay required taxes on the fees it collected for managing the hotel’s day-to-day affairs. Panamanian law imposes a tax on commissions paid to foreign businesses, and it is not known whether the Trump Organization qualified for an exemption.
-snip-
By Ben Protess and Steve Eder
June 3, 2019
The owners of a luxury hotel in Panama City that ousted the Trump Organization as property managers last year accused it on Monday of evading taxes in Panama and creating a “false light” around the hotel’s finances.
The accusations, made in a legal filing in Manhattan federal court, are fraught with potential diplomatic and legal complexities for President Trump, as they essentially assert that his family business cheated a foreign country’s government.
The Trump Organization, the filing alleges, “also made fraudulent and false claims to the Panamanian tax authorities” to “cover up its unlawful activities.” This was originally detected during an audit last year by Panamanian tax authorities, according to the filing.
It was not possible to immediately verify the accusations in the filing, which include claims that the Trump Organization failed to pay required taxes on the fees it collected for managing the hotel’s day-to-day affairs. Panamanian law imposes a tax on commissions paid to foreign businesses, and it is not known whether the Trump Organization qualified for an exemption.
-snip-
Read more: https://www.nytimes.com/2019/06/03/business/trump-panama-hotel-tax-evasion.html
