Revolut - fake CRS info

[Jerry1911]

So Revolut started asking me (an EU tax resident) about my tax residency i.e. CRS self certification. What would happen if I put in Kazakhstan instead of the country I'm actually resident in? Has anyone tried it?

Why KZ? Well some member here was selling their tax certificates for a few hundred euros. So I'm wondering if Revolut would accept it lol

 

[Sols]

What's your plan for when (if) Revolut asks to see your Kazakh proof of address and tax return next year?

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This is the probably the answer to your question.

 

[Jerry1911]

Sols said:
What's your plan for when (if) Revolut asks to see your Kazakh proof of address and tax return next year?
Click to expand...

I'll try to fake it

 

[Martin Everson]

Jerry1911 said:
What would happen if I put in Kazakhstan instead of the country I'm actually resident in? Has anyone tried it?
Click to expand...

Well keep in mind Revolut does track and records your movement and location of where you are for every wire and card payment to prevent fraud. If you enter KZ they are not stupid. For in person card payments you can see your location on the transaction itself even. Revolut allows you to enter multiple tax residency locations also. They will report to locations where they have CRS indica that you maybe resident. You can see below the types of indica other Fintech banks such as N26 use such as telephone number, where regular payments are sent etc.


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What does N26 do with my tax information?​

The OECD requires certain tax information to be shared by means of the Common Reporting Standard(new tab) (ECR). To carry out our obligations, we must establish which country you're taxable in. We do this through your tax identification or National Insurance number.

We forward this information via the German Federal Tax Office to tax authorities in other countries if:

• You live in a ECR participating country.
• You have a postbox or a second registered address in another ECR participating country.
• When registering you gave a telephone number belonging to another ECR participating country.
• You have a standing order, or make regular payments, to an account located in another ECR participating country.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Jerry1911]

So what you're saying is that it doesn't really matter what I put in as I'm logging in and using the debit card within my home country?

 

[Sols]

It does matter. By putting in Kazakhstan (or any other country you're not tax resident in), you're committing fraud. And it is quite likely to be discovered sooner or later. So don't do that.

Don't lie to financial institutions.

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This is the probably the answer to your question.