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-India to grant amnesty to HSBC account holders who evaded taxes.

Global Banking News-July 10, 2012--India to grant amnesty to HSBC account holders who evaded taxes(C)2012 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 10 July 2012

The government of India is to offer an amnesty to account holders in the Swiss unit of HSBC Holdings (LSE: HSBA) for evading taxes.

The government will pardon more than 100 wealthy citizens who are alleged to have evaded taxes. The account holders have been given the option of bringing their cash back from Geneva and paying pending taxes if criminal proceedings are not taken against them.

The list of customers was obtained from the local authorities last year.

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Publication:Global Banking News (GBN)
Geographic Code:9INDI
Date:Jul 10, 2012
Words:129
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