Trump Companies Accused of Tax Evasion in Panama

ProPublica is a nonprofit newsroom based in New York. Sign up for ProPublica’s Big Story newsletter to receive stories like this one in your inbox as soon as they are published.

The owners of a 70-story Panama City hotel tower formerly managed by President Donald Trump’s companies are accusing them of stiffing the Panamanian government.

In a legal filing Monday in an ongoing lawsuit in Manhattan federal court, private equity manager Orestes Fintiklis and the company he leads, Ithaca Capital Partners, claimed that two Trump companies failed to pay Panamanian taxes equal to 12.5% of the management fees they drew from the hotel.

The Trump entities were allegedly supposed to withhold those fees in advance and pay them to the government regardless of whether the property was profitable or not.

... read more at: https://www.propublica.org/article/trump-companies-accused-tax-evasion-panama