Dáil clerk failed to send letter to HSBC

None of the money under suspicion of tax evasion in relation to the offshore HSBC accounts that came to light as part of the Swissleaks controversy were transferred from Irish banks, the Public Accounts Committee heard yesterday.

Revenue Commissioners chairman Niall Cody told Independent TD Shane Ross that according to the data provided to it by French authorities all the money was held offshore before being transferred to HSBC.

Mr Cody and Revenue PAC liaison officer Liam Gallagher were appearing before the Dáil committee to outline their investigation into HSBC offshore accounts, which have yielded more than €4.5m in tax, interest and penalties to date.