Some tax-law experts questioned key parts of the letter, including how the lawyers defined “Russian” sources and lenders. Major companies in Russia frequently use subsidiaries in other jurisdictions, like Cyprus, the Netherlands or the British Virgin Islands, to conduct overseas business. Moreover, it was unclear what the lawyers meant by asserting that the tax returns did not “reflect” any income from Russian sources.
The letter also restricts itself to income on Mr. Trump’s returns, with no exploration of underlying transactions of other entities that file their own returns, such as partnerships.
Trump Lawyers Say He Had No Russian Income or Debt, With Some Exceptions
The New York Tiimes
So his lawyers are giddily gushin’
to report that no income from Russian
for over ten years
(except for exceptions they’re hushin’)
Lily Beth Baker, 5/13/17