9th Mar 2015 13:10
LONDON (Alliance News) - The head of the Argentinian tax authority has demanded HSBC Holdings PLC repatriate USD3.5 billion in funds it claims the bank helped to move offshore on behalf of its clients, the BBC reported on Monday.
Ricardo Echegaray said HSBC's actions threatened the stability of the Argentine government and confirmed tax authorities in the UK have asked for details about Argentina's case against HSBC.
In November, Argentina accused HSBC of helping more than 4,000 clients evade taxes, charges denied by HSBC which said it respected Argentine law.
http://www.bbc.co.uk/news/business-31799402
By Sam Unsted; [email protected]; @SamUAtAlliance
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