Trump pledges relaxed and simplified tax system

Donald Trump promised the biggest tax overhaul since Ronald Regan, promising to cut taxes across the board and reduce the load on business to stop the mass exodus of US companies shifting their headquarters outside US.

 If he becomes president, the Republican nominee pledged that no US business would pay more than 15 per cent of its profits in tax, down from the current maximum of 35 per cent. He also promised to levy a one- off tax on Trillions of dollars in corporate profits now park all over the world in a bid to lure them back to America.

“We are ready to show the world that America is back – bigger and better and stronger than ever before,” Mr Trump said in Detroit speech.