If the government endorses the proposal, as soon as this year all commercial banks will be obliged to supply the State Tax Inspectorate with information about clients who hold more than €5,000 in their accounts at the end of the year and those whose yearly income exceeded €15,000.
The tax authority would then be able to check if income held in the accounts were legal.
Stasys Kropas, the president of the Lithuanian Bank Association, says that such a requirement will be “a big additional burden” for commercial banks.
Sergejus Muravjovas, head of the Lithuanian chapter of Transparency International, says that while the government wants to have as much information as possible about people, it does not reciprocate with detailed reports about how it spends taxpayer’s money.
“The government’s position is slightly hypocritical: it has easy access to data about us, but is very reluctant to supply data about its own activities,” he told LRT radio.
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