Why does Revolut collect tax information?
Revolut, as a financial institution, is required by law to collect and report information on your tax residencies. This is regulated by international standards, specifically CRS (Common Reporting Standard) and FATCA (Foreign Account Tax Compliance Act).
Revolut is required to obtain self-certification from customers on following information under FATCA/CRS:
- Resident address
- Date of birth
- Tax residencies: Jurisdiction(s) of tax residence. You're typically considered a tax resident in countries where you pay taxes or are physically present for at least six months of a year.
- Taxpayer Identification Number (TIN) with respect to each tax residency
Joining Revolut Bank UAB
- Where is Revolut Bank Live?
- Will my account change in any way when I join the Bank?
- Do I have to join the Bank?
- How do I join the Bank?
- Revolut Payments UAB and Revolut Bank UAB — what is the difference?
- Why are there transactions with the description Revolut Payments UAB and Revolut Bank UAB on my Account Statement?
- Why can't I see the Revolut Bank banner?
- What is the price list for using Revolut Bank? Why is it not sent in the email?
- Will my cards be separate if I join Revolut Bank?
- Is credit or overdraft provided if I join Revolut bank?
- How can I check if I am already under Revolut Bank?
- Is my money secure with Revolut Bank?
- Can I order a credit card if I join Revolut Bank?
- Does switching to Revolut Bank constitute opening a new bank account?
- What are the benefits of joining Revolut Bank?
- Can I get more information about tax collection at Revolut?