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HSBC
early last year acknowledged "past compliance and control
failures" that may have allowed some customers to evade taxes.
Since February 2015, Israel's tax authority had been working to
obtain the list of Israelis with accounts at HSBC Switzerland.
Having a Swiss bank account is not illegal in Israel as long as
it is reported to authorities and taxes are paid. The tax
authority said that it will spend the next few months examining
the list of Swiss HSBC accounts and compare it with the
authority's records.
The International Consortium of Investigative Journalists (ICIJ),
which had coordinated the release of leaked data from HSBC in
Switzerland, initially reported that Israel ranked sixth among
203 countries whose citizens were customers, with 6,554 Israelis
holding accounts worth $10 billion.
"Getting the list is one of the most significant outcomes of the
fight against undeclared capital and it joins the legislative
moves and other measures to obtain information on bank accounts
and assets held by Israelis abroad," said Moshe Asher, head of
the Israel Tax Authority.
The authority has offered immunity from criminal prosecution by
anyone who comes forward to report an account abroad. It has so
far received 5,360 requests worth 18.6 billion shekels ($5
billion).
Asher called on those Israelis who have not yet reported capital
to do so now. Those applying for amnesty are still liable for
back taxes and penalties.
Israeli newspapers had reported that among the Israelis on the
list were bank owners and directors, diamond and real estate
moguls, retired military officers, public and private company
heads, well-known lawyers, a "popular" TV presenter, artists,
soccer players, sports agents, a retired judge and a former
prosecutor.
The tax authority previously arrested 32 people over secret
accounts worth tens of millions of dollars held at UBS in
Switzerland.
(Reporting by Steven Scheer; Editing by Ari Rabinovitch)
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