Each bank card will become a certain spying device, while only using cash will ensure independence. Such a law will be soon debated at the Seimas.
The law has been submitted by Member of the Seimas Committee on Budget and Finance Antanas Nesteckis, who believes that this is the only way to gain all the information and assess risks related to financial activities of companies and residents. "Last year income from securities was taxed. Last year the income of residents from this activities amounted to around LTL 10,000 (EUR 2,900). Therefore, there is a need to learn about the income of residents that is taxed," says Nesteckis.
He refrained from discussing a possibility that personal information of residents might leak during the process of an investigation, while the person would not be convicted yet. It seems to be one more Lithuania's dance to the tune of the European Union (EU), as in the nearest future this system will be introduced in all the EU countries and institutions receiving relative information about residents will be able to exchange it.
However, according to economist Algis Sileika, it is necessary to consider the way to do not violate the privacy of residents. "It would be just if the system would be based on the principle that banks provide the information all the time, yet it is placed in a certain basis, and the State Tax Inspectorate would have the right to access to this information only if certain suspicions are aroused. And only in cases when big money and inconsistencies are involved, not checking every household," says Sileika.
