‘Politicians can’t be trusted to clean up HSBC’: Govt revenue chiefs grilled over tax evasion scandal
‘Top UK tax officials were probed by MPs on Wednesday over the recent tax evasion scandal that has engulfed British banking giant HSBC. Labour MP Austin Mitchel said Britain’s tax avoidance industry has eclipsed its tax collection industry.
Amid global controversy over HSBC’s alleged involvement in industrial scale tax evasion, Her Majesty’s Revenue and Customs (HMRC) was questioned by Britain’s Public Accounts Committee (PAC).
On Sunday, it emerged HSBC’s Swiss private banking arm had aided royalty, criminals, terrorists, and drug dealers in dodging taxes.’
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