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UK's Customs request information on Argentina's criminal case against HSBC

Thursday, February 12th 2015 - 05:34 UTC
Full article 29 comments
On November 26 last year, Argentina's AFIP tax bureau commanded by Ricardo Echegaray filed the complaint against the London-based bank On November 26 last year, Argentina's AFIP tax bureau commanded by Ricardo Echegaray filed the complaint against the London-based bank
By the time the report was filed, Argentina's AFIP had received the information on the HSBC secret accounts from France By the time the report was filed, Argentina's AFIP had received the information on the HSBC secret accounts from France
”We denounce the existence of an illegal platform created by three banking entities (of HSBC) that are operating in Argentina,” Echegaray said then ”We denounce the existence of an illegal platform created by three banking entities (of HSBC) that are operating in Argentina,” Echegaray said then

Britain's HM Revenue and Customs (HMRC) department has requested Argentina’s AFIP tax bureau information on the criminal report filed in Buenos Aires against HSBC on allegations the bank helped more than 4,000 clients to evade taxes by stashing their money in secret Swiss bank accounts.

 On November 26 last year, the AFIP tax bureau commanded by Ricardo Echegaray filed the complaint against the London-based bank, briefing also the Committee of Budget and Revenue of the Senate and the Lower House, the Economic Criminality and Assets Laundering Office (PROCELAC), the Central Bank and French financing authorities.

By the time the report was filed, Argentina's AFIP said it received the information on the secret accounts from France, which had placed HSBC's Swiss private banking arm under formal investigation for possibly aiding tax evasion.

”We denounce the existence of an illegal platform created by three banking entities (of HSBC) that are operating in Argentina,“ AFIP head Ricardo Echegaray told a news conference.

”Its managers have intervened actively with the sole aim of helping Argentine citizens avoid paying their taxes.”

Argentina's move comes as part of a global crackdown on undeclared funds held in offshore havens, after the global financial crisis strained government budgets and made the need to maximize tax receipts more pressing.

Switzerland has become the world's biggest offshore financial center thanks to strict banking secrecy laws in the Alpine country.

Belgium also charged HSBC Private Bank with tax fraud and money laundering. Stolen personal details of HSBC clients in Switzerland were passed on to Belgian and French authorities in 2010.

Earlier in November 2014, AFIP accused Procter & Gamble, the world's No. 1 household products maker, of tax fraud and said it suspended its operations in Argentina.

Top Comments

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  • Troy Tempest

    Just Argentina wanting MORE of other people's money.

    No wonder there is a big stink - no proper hygiene products.

    Aryentinians ( Thx Paul C. ComfortBoy) will be washing their hair with cakes of lye soap or scraping oil off their bodies, like the Romans 2,000 years ago.

    The Argy Ambassador to the US looks like she's doing that already.

    Actually, it looks like she had a 'shaving mishap' too, and she's wearing one of Kicillof 's old suits she found crumpled on the floor.

    I better not say anything more, Think likes her, and British Kirchnerist probably has a crush on her.

    Feb 12th, 2015 - 08:57 am 0
  • chronic

    Distraction:

    rotting roadkill, pay your debts.

    Feb 12th, 2015 - 10:12 am 0
  • nerosaxo

    Isn't that where CFK hides her STASH?

    Feb 12th, 2015 - 11:51 am 0
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