You will definitely be asked for your PPS number if you are trading stocks or cryptocurrency, as it helps prevent fraud and tax evasion. ... "Revolut has an obligation by law to report the year end account balances to local tax authorities in Lithuania annually, or provide information on their request.

Why does Revolut need my PPS number?

Why does revolut need my pps number? Because Revolut is not an Irish bank – they are required by law to collect the Tax Identification Number of all customers living in Ireland. This is needed so that account information can be submitted to Revenue.

Why are Revolut asking for 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).