HSBC charged by Argentina over tax evasion

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Argentina has charged HSBC with aiding more than 4,000 citizens to evade taxes by stashing their money in secret Swiss bank accounts, the country's AFIP tax authority said on Thursday.

Reuters reports that AFIP said it received the information on the secret accounts from France, which last week 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 inArgentina," Ricardo Echegaray, the head of Argentina's AFIP tax agency, told a news conference.

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

To access the complete Reuters article hit the link below:

Argentina charges HSBC with aiding tax evasion via Swiss accounts

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