A
report in The Guardian newspaper suggests that Donald Trump lost £26 million
($31.8 million) in 2014 and 2015 on his two golf properties in Scotland,
Trump International Golf Links at Balmedie, Aberdeenshire and Trump Turnberry in
Ayrshire.
That figure, discovered in recent filings with United Kingdom
authorities, allowed the Republican presidential nominee to avoid paying
U.K. corporation tax. Additionally, according to The Guardian, the
documents show differences between those accounts and filings Trump has
made with the United States Federal Election Commission.
The newspaper states that Trump declared in U.S. FEC filings that Trump Turnberry generated
$20.4 million (£16.6 million) in income in 2014, with Trump
International Golf Links earning just north of $4.4 million (£3.6
million).
However, his U.K. company accounts highlight losses on both
courses in 2014: £3.6 million at Trump Turnberry and £1.1 million at
Trump International. Last year's operating losses for Turnberry came in
at £8.4 million. Moreover, Trump faced £2 million in losses in
dollar-to-sterling currency exchanges last year; in 2014, that number
was £3.1 million.
Part
of the losses in these years may be explained by investments Trump and
his companies have made in improving the properties. According to The
Guardian, Trump has invested a total of £62.7 million in buying and
refurbishing Trump Turnberry.
Trump's son, Eric, in the filings states
the expectation is that the property will return to profitability "in
the short to medium term", according to The Guardian.
Trump,
who has boasted his business prowess and acumen throughout his
campaign, has lost money on Trump International Golf Links for four
straight years, from 2012 to 2015, according according to another newspaper, the Daily Record.
Labels: GOLF NEWS
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