30/10/2026 – On 26 October, the Global Forum Secretariat delivered a virtual awareness-raising workshop for representatives of financial institutions in Montenegro to support the country’s implementation of the Common Reporting Standard (CRS), the international framework for the automatic exchange of financial account information for tax purposes.
Montenegro introduced CRS reporting obligations with effect from 1 January 2026 and has committed to carrying out its first exchanges in September 2027. The country has adopted the amended CRS, which incorporates the 2023 updates to the standard, including enhanced due diligence and reporting requirements, and will join the group of jurisdictions exchanging information under the amended CRS for the first time next year.
The workshop brought together over 40 participants from the financial sector and aimed at strengthening their understanding of the CRS requirements and implementation timeline. Participants received an overview of the key due diligence and reporting obligations under the CRS, complemented by practical insights and lessons learned from other implementing jurisdictions.
Particular emphasis was also placed on the products that are covered by the amended CRS, such as central bank digital currencies and selected electronic money products. These may represent new areas of activity for some financial institutions and are now subject to CRS due diligence and reporting requirements.
The event marks another milestone in the co-operation between Montenegro and the Global Forum Secretariat, funded by the European Union, to advance Montenegro’s broader agenda in the implementation of international tax transparency standards.
