US President and re-election hopeful Donald Trump is under new scrutiny as a New York Times story revealed tax anomalies – including how he paid more taxes to the Philippines than to his own country in the first two years of his presidency.

In 2017, Trump or his companies paid $156,824 (P7.9 million in 2017) in taxes to the Philippine government, the Times reported. He had only paid $750 (P37,802) in income taxes to the US government that same year.

The Times reported that the taxes paid to the Philippine government came from a deal where he licensed his name for a skyscraper. The Philippines is home to one of Trump’s many real estate ventures: The Trump Tower located in the posh Century Complex of Makati City.

Trump – whose name has become synonymous to a brand – licensed his name for the tower nearly a decade ago. Trump earned some $9.3 million (P451.03 million*) from the licensing deal. 

Here are some things to know about Trump Tower Philippines:

Under Century Properties

On June 26, 2012, Trump’s sons Donald Jr and Eric were in the Philippines for the groundbreaking of the $150-million (P6.33 billion in 2012) Trump Tower Philippines, a 56-story residential building.

Century City Development Corp, a unit of Century Properties Group Inc (CPG) founded by Jose Antonio, developed the building with the Trump brand name under license from the Trump Organization. 

The Trump Organization doesn’t own, develop, nor sell Trump Tower Manila, but the Trumps earn from the licensing agreement.

Years back, Jose Antonio’s son Robbie met Ivanka Trump, who introduced him to her father Donald, who then agreed to license his trade and family name to CPG.

Trump Tower Manila was completed in 2017.

‘Most amenitized residential high-rise’

The Trump Tower’s website greets visitors to proclaim itself as “the country’s most amenitized residential high-rise and Manila’s definitive landmark.”

The skyscraper boasts 56 floors and over 260 units. According to CPG, its target market is listed as “luxury.”

Amenities include the Trump Plaza, Grand Lobby, function room, a library and business center, children’s playroom, movie room, gym, spa lounge with a nail and beauty salon, a lap pool and jacuzzi, and a lounge and cafe/juice bar.

The smallest suite units are around 57 square meters, while the largest penthouse units go for a whopping 435-square meter space. To compare, the area of the largest penthouse is more than half the area of the Araneta Coliseum’s basketball court, which is around 666 square meters.

A quick search on real estate company Lamudi’s website shows Trump Tower units sell from P12.5 million for a one-bedroom unit up to P200 million for a 5-bedroom unit.

The condominium describes itself as having the “exclusive touch of the Trump brand,” and “raises the bar in super luxurious living.”

The building won the International Property Awards-Asia Pacific’s “Best Residential High-rise and the Best Architecture” award for the Philippines in 2013. It was also the Best Luxury Condominium in Metro Manila in the Property Guru Philippines Property Awards in 2018.

Trump Tower Manila takes after the original Trump Tower in New York City. The skyscraper along 5th Avenue is 68 stories high and offers luxury living, world-class restaurants, high-end stores, and a “reputation” to those who live there. It’s been a part of the Manhattan skyline for over 30 years.

Ethical issues

Even though the Trump Organization directed its overseas partners to stop using President Trump’s image and words in marketing materials, the family could still be seen in the early advertisements of Trump Tower Manila.

File photo by Jay Directo/AFP

The Washington Post reported in 2017 that Trump Tower Manila’s website featured endorsements from President Trump, who said in a video that the project was “something very special.” 

Ivanka, also White House advisor to her father, was featured, too, in a marketing campaign calling the Makati skyscraper a “milestone in Philippine real estate history.”

The Post said that after they inquired with CPG about the materials, they were removed.

Experts raised concerns that the Trumps’ private business interests continue to overlap with the President’s governance roles, creating potential for conflicts of interest. – Rappler.com

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