HSBC Scandal and UK’s Dilemma
The British government is considering imposing heavy financial penalties on banks, accountants, and companies that aid people evade tax, following the HSBC’s Swiss division scandal.
The new measures would include penalties for facilitating tax evasion equal to the taxes and fines to be paid by the evaders themselves.
The British government is currently close to clinching a deal with France, so that leaked HSBC information could be used to take action against it.
In this edition of The Monarchy, we will review the HSNC's scandal and the British government's measures to tackle the issue.
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