THE Spanish government is considering legal action against banking giant HSBC in relation to off-shore tax dodging.
HSBC files show that 2,694 Spaniards held accounts at HSBC’s private bank in Switzerland with savings totalling €2.2 million.
Spain’s finance minister, Cristobal Montoro, has now asked the government to carry out a ‘study of the legal actions that can be taken against HSBC for its participation in carrying out fiscal fraud, laundering and other wrongful acts committed by Spanish residents’.
In 2010, tax authorities contacted more than 650 Spanish residents on the list who were suspected of tax evasion.
The Botin family, who head Santander bank, paid €200m in back taxes to the Spanish government, ending an investigation for tax fraud.
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