26/05/2026 – Cabo Verde, a member of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) since 2018, has committed to automatic exchange of financial account information under the Common Report Standard (CRS) by September 2027.
The CRS, developed in response to a G20 request and approved by the OECD Council on 15 July 2014, calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions
To date, 130 of the 173 Global Forum members (75%) are committed to starting automatic exchange by a specific date, and close to 120 jurisdictions are already exchanging.
“Our capacity-building activities equip developing countries all over the world to implement and benefit from all forms of information exchange, and we are delighted to see Cabo Verde committing to automatic exchange of financial account information,” said Gaël Perraud, Chair of the Global Forum. “Cabo Verde’s commitment will facilitate the country’s fight against tax evasion and other illicit financial flows and will reinforce its domestic resource mobilisation.”
The Global Forum will accompany Cabo Verde’s progress in delivering its commitment to start exchanging automatically by 2027, and status updates will be provided to Global Forum members and the G20. The Global Forum Secretariat will assist the country’s tax authorities in all steps of the of the CRS implementation.
Background documents:
- Status of commitments for the automatic exchange of financial account information
- Update on the Implementation of the 2021 Strategy on Unleashing the Potential of Automatic Exchange of Information for Developing Countries
- Peer Review of the Automatic Exchange of Financial Account Information 2025 Update
- Amended Common Reporting Standard XML Schema: User Guide for Tax Administrations
About the Global Forum
With over 170 members, the Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement the standard on transparency and exchange of information on request (EOIR) and the standards of automatic exchange of information (AEOI), covering financial accounts under the Common Reporting Standard (CRS) and crypto-asset transactions under the Crypto-Asset Reporting Framework (CARF). These objectives are achieved through robust monitoring and peer review processes. The Global Forum also runs an extensive capacity-building programme to support its members to implement the standards and help tax authorities make the best use of cross-border information sharing channels.
The Global Forum capacity-building programme is supported by the following development partners :
