Parisian protesters giving HSBC their two cents’ worth
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Portugal has received information on 611 taxpayers listed in the Swiss Leaks affair. The total amount of money in question is $969million (CHF924million).
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As Portuguese Secretary of State for Fiscal Affairs Paulo Nuncio told a parliamentary committee on Friday, the list of Portuguese nationals who may hold accounts with the Swiss subsidiary of British bank HSBC “will be cross-checked with information already available to the Portuguese tax authorities”.
Thanks to a 2012 agreement to share information with Switzerland, Lisbon already has some of the relevant data on Portuguese account holders.
The Swiss HSBC subsidiary has been at the centre of a huge scandal this month after several media outlets reported that it had helped some of its clients to hide billions of dollars to avoid paying taxes.
Dubbed Swiss Leaks, the list came from HSBC files stolen by former employee Hervé Falciani in 2007. These files contain information on 100,000 bank customers, and they ended up in the hands of the French authorities after they raided Falciani’s home..
Like Portugal, many countries have asked France to provide a list of nationals mentioned in these files.
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Tax scandal hits Swiss bank deals
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The controversial tax practices of the Swiss private banking industry are threatening to disrupt two potential takeover deals in the sector. Bidders for Coutts International have tried to use the recent scandal over tax evasion by clients of HSBC’s Swiss arm to lower the price of the private banking assets being sold by Royal Bank…
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The prosecutor announced that following recent public revelations about the HSBC Private Bank – a Swiss subsidiary of a leading British bank – a criminal case has been filed against the bank and unknown persons for money laundering. Regardless of the criminal liability of its employees, the bank can be prosecuted if it failed to…
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Media, trade groups and regulators in Switzerland are asserting that HSBC Private Bank’s aiding of tax evaders has “primarily historical value”.
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.