Citadele Bank

Information for bank customers who are foreign residents for tax purposes

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Council Directive 2011/16/EU of 15 February 2011 (as amended by Council Directive 2014/107/EU of 9 December 2014) on administrative cooperation in the field of taxation will enter into force on the 1st of January 2016 in Lithuania. From now on, AB Citadele bank, along with other banks based Lithuania, starts collecting additional information about its customers in order to determine their countries of taxation. After identifying customers having the tax duties with the countries included in the “List of Reportable Jurisdictions” approved by Order No. VA-102 of 25 November 2015 of the State Tax Inspectorate, starting from 2017, the banks will annually submit the reportable invoices of such customers to the State Tax Inspectorate which will transfer this information to the authority of a relevant jurisdiction.

From now on, the bank’s forms and applications for a specific service will include questions about the customer’s country of taxation, their tax payer’s identification number, etc. Beneficiaries of legal entities who are foreign taxpayers will also have to provide the above details and to indicate their date of birth and place of birth (country).

We guarantee that the personal data provided by our customers are being collected and will be collected only for statutory purposes, and that the organizational and technical data security measures in place will fully ensure data confidentiality. The personal data and account information of customers who pay taxes in the countries that are not parties to the international agreement on the automatic exchange of information and that are not included in the list of reportable jurisdictions will not be disclosed.

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