Public Accounts Committee seeks to question HSBC over tax

The Dáil's Committee of Public Accounts wants to question British bank HSBC about reports that it aided wealthy Irish citizens evade tax, according to reports at the weekend.

The bank has been at the centre of a controversy since last month, when The Irish Times and a number of other media organisations around the world published details of documents showing how it profited from employing tax- dodging schemes through a Swiss subsidiary.

Secret files from its private bank in Geneva included details of Irish people who had made tax settlements with the Revenue Commissioners for more than €4.5 million.

The influential Dáil committee wants to question HSBC alongside Revenue officials. Its chairman, John McGuinness TD told the Sunday Business Post deputies wanted to establish what the culture was within the institution and "why nobody shouted stop".

The committee wants the same high-ranking HSBC officials who testified before its British equivalent to be brought to Dublin to face questions from its members.

Documents show the bank’s Swiss branch held almost $45 million for 88 people with Irish addresses.