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
- Why does Revolut collect tax information?
- What is FATCA/CRS?
- Will Revolut share my tax information with anyone?
- Do I need to declare all of my Tax Residencies?
- Will Revolut continue to hold and share my tax information with local authorities after I terminate my Revolut account?
- Why is my country not visible on the list of tax residencies?
- What will happen if I don't provide tax information?
- How can I provide tax information?