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Mexico to review tax filings of citizens on leaked HSBC list
February 12, 2015 / 8:52 PM / 3 years ago

Mexico to review tax filings of citizens on leaked HSBC list

MEXICO CITY (Reuters) - Mexico’s tax office will review the tax filings of Mexicans who appeared on a leaked list of wealthy clients of the Swiss arm of HSBC after the bank admitted failings that might have allowed some customers to avoid taxes.

“With what has now been published, we will review the declarations of the taxpayers,” Aristoteles Nunez, head of tax collection office SAT, told Mexico’s Radio Formula on Thursday.

Nunez said any Mexican citizens found to have undeclared income on foreign investments would be subject to an audit.

HSBC Holding Plc admitted this week to failings of compliance and control at its Swiss private bank after media reports alleged it helped wealthy clients conceal millions of dollars of assets in a period up to 2007.

Mexico was ranked 30 on the list of countries with the largest dollar amounts in the leaked Swiss files, with $2.2 billion (1.6 billion pounds) in accounts associated with 2,642 HSBC customers linked to Mexico, according to the International Consortium of Investigative Journalists.

Reporting by Christine Murray. Editing by Andre Grenon

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