Tetra Pak heir Sigrid Rausing embroiled in HSBC tax scandal
Leaked bank documents from HSBC suggest that the granddaughter of the Tetra Pak founder, avoided paying taxes by keeping a large fortune in a Swiss account.
Although Rausing has lived in the UK for more than 30 years, she has told British authorities that she still has a strong connection to Sweden, Swedish Radio News reported. That claim has helped Rausing avoid paying British taxes on the fortune kept in her Swiss bank account, and that fortune is as large as SEK 150 million.
Swedish Radio has run a series of reports about Swedes with Swiss accounts through HSBC, the world's largest bank, as part of an investigative news project with the International Consortium of Investigative Journalists and the French daily newspaper Le Monde.
The media outlets analyzed more than 60,000 files which were part of a leak from HSBC and which showed in detail how a number of wealthy individuals avoided paying taxes on their fortunes by squirreling money away in Switzerland, once thought of as a tax haven.
Even expatriates who have lived their entire lives in the UK can get a more favorable tax structure if they claim that they have strong ties to their familty's homeland.
"You can be a tax resident in the United Kingdom, for example, but domiciled in another country," Richard Brooks a former tax investigator told Swedish Radio News.