VID will send letters about cash deposits and invite to check declared income

In November and December, the State Revenue Service (VID) will send letters to residents through the electronic declaration system (EDS), regarding cash deposits in bank accounts in 2024 that may indicate undeclared income, the agency LETA was informed by VID.

The letters are planned to be sent gradually until December 18, 2026, to approximately 3000 people per week. During the state holiday week, from November 16 to 20, letters are not planned to be sent.

Recipients of the letters will be invited to review the source of their funds and, if necessary, submit or amend their annual income declaration for 2024 within 30 days of receiving the letter.

VID emphasizes that a cash deposit into an account does not, by itself, mean that tax must be paid on that amount. If there are no additional declarable income, no explanations or documents need to be provided after receiving the letter.

The purpose of the letters is to encourage individuals to ensure that all income is fully declared and to supplement the declaration if necessary, explains VID.