As of today, the State Revenue Service (SRS) will have information on the accounts of those residents of Latvia whose turnover exceeded 15,000 euros. This information is transferred by the banks themselves.
Such an order is provided for in the amendments to the law “On Taxes and Fees”. By September 1, banks will provide information on the accounts as of January 1, 2018. And then the banks will report to the SRS every year on February 1, the portal rus.lsm.lv writes.
If the audit reveals suspicious results, the SRS will assign an audit. SRS explains, that people who have official incomes on their accounts must not worry. The tax will store the data for five years.
As previously the portal Delfi wrote, according to the new article of the law, banks and payment institutions (for example, mail) are required to provide the State Revenue Service with information about their clients (residents of the Republic of Latvia), who have a common debit turnover or a general credit turnover on payment and accumulation accounts for the past year is 15 thousand euros or more. The bank should provide information not for each client account separately, but for all these accounts together.
Simple calculations show that those workers, who have their wages transferred to a bank card, will automatically get into the SRS’s field of vision if they receive more than 1250 euros a month. This is for dangerous for them. Unlike those people who are officially paid much less, but who put on the account through the ATM much more.
This year banks must submit to the SRS data on customer accounts before September 1. For the first time, this will not be a turnover in customer accounts in 2017, but information about those individuals who, as of January 1, 2018, had a total account balance of EUR 15,000 or more.
