17/09/2026 – Liberia, a member of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) since 2009, has committed to start automatic exchange of information on financial accounts under the Common Reporting Standard (CRS) by September 2028.
Following Liberia’s commitment, 131 of the 174 Global Forum members (75%) are now committed to starting automatic exchange by a specific date, with close to 120 already exchanging.
“Our capacity-building activities equip developing countries to implement and benefit from all forms of exchange of information, and we are delighted to see Liberia commit to the automatic exchange of financial account information,” said Gaël Perraud, Chair of the Global Forum. “Liberia’s commitment will strengthen its fight against tax evasion and illicit financial flows while supporting domestic resource mobilisation. It also reflects the growing momentum for tax transparency in Africa, where 15 countries have now committed to implementing the Common Reporting Standard.”
The CRS, developed in response to a G20 request and approved by the OECD Council in 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
The Global Forum will monitor Liberia’s progress in delivering its commitment to start exchanging automatically by 2028, 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 CRS implementation.
Background documents:
- Update on the Implementation of the 2021 Strategy on Unleashing the Potential of Automatic Exchange of Information for Developing Countries
- Tax Transparency in Africa 2026: Africa Initiative Progress Report
- Peer Review of the Automatic Exchange of Financial Account Information 2025 Update
- Common Reporting Standard Status Message XML Schema: User Guide for Tax Administrations (Version 3.0)
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 for 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.
For more information, please contact gftaxcooperation@oecd.org.
