Argentina demands $3.5bn from HSBC

Argentinian Flag

The head of Argentina's tax authority has demanded that HSBC repatriate $3.5bn in funds that it says HSBC helped its clients move offshore.

BBC News reports that Ricardo Echegaray said that HSBC's actions threatened the stability of the Argentine government.

'HSBC built a platform to help clients evade tax', said Echegary in a press briefing at London's Argentine embassy.

He confirmed that British tax authorities had asked for details about Argentina's case against HSBC.

To access the complete BBC article hit the link below:

Argentina demands HSBC repay $3.5bn in offshore funds

Government nets £500m from latest Lloyds share sales

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News