Lithuania issues Order No.VA-63 updating crypto-asset user reporting rules
BIBIBI
AT A GLANCE
Lithuania updates crypto-asset user reporting rules, planning to align with DAC8 DAC8 and CARF CARF frameworks.
Article
Lithuania updates crypto-asset user reporting rules to align with the EU DAC8 framework
PANews October 10 reported, citing Bloomberg Tax via Bitcoin.com, that the State Tax Inspectorate of Lithuania issued Order No., updating the crypto-asset user reporting procedures to align with the EU VA-63 and DAC8 DAC8 OECD and CARF CARF frameworks.CASP CASPs must collect and submit data such as user identity information, transaction records, account balances, and tax residency status. Entities that have reported in other EU member states may be exempt from duplicate reporting. The relevant data will be automatically exchanged among tax authorities in EU countries starting in mid-2027 year.
The State Tax Inspectorate of Lithuania issued Order No.VA-63 updating the crypto-asset user reporting procedures.
02
The rules are intended to align with the EU DAC8 DAC8 and OECD CARF CARF frameworks.
03
CASP CASPs must collect and submit data such as user identity information, transaction records, account balances, and tax residency status.
04
Entities that have reported in other EU member states may be exempt from duplicate reporting.
05
The relevant data will be automatically exchanged among tax authorities in EU countries starting in mid-2027 year.
06
The news was published by PANews, which said it cited reports from Bitcoin.com and Bloomberg Tax.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This means that relevant crypto-asset service providers may need to organize and submit more user and account data, with tax authorities in EU countries expected to begin automatically exchanging this data from mid-2027 year.
Why it matters to readers
The rules link reporting requirements to the EU DAC8 DAC8 and OECD CARF CARF frameworks, which may affect CASP data collection, reporting, and cross-border compliance processes.
If you use relevant crypto-asset services, your identity, transaction, balance, and tax residency information may fall within the scope of reporting and cross-border exchange.
Risks and unknowns
The evidence does not provide the original link to Order No.VA-63 issued by the State Tax Inspectorate of Lithuania.
The effective date of Order No.VA-63 has not been explicitly stated.
The specific reporting scope, technical requirements, and details of the automatic exchange still need to be verified against official documents.
Related Developments
Loading event timeline…
Related concepts
CASP
This term is not in the glossary yet. Browse related concepts in the glossary.
