Liberia has committed to begin automatic exchanges of financial account information under the Common Reporting Standard by September 2028, strengthening its participation in the Global Forum on Transparency and Exchange of Information for Tax Purposes.
Liberia announced that it will begin automatic exchange of financial account information under the Common Reporting Standard (CRS) by September 2028, according to a release from the OECD on 17 September 2026.
The country’s commitment strengthens its participation in the Global Forum on Transparency and Exchange of Information for Tax Purposes, which it joined in 2009.
Growing momentum across the Global Forum
The announcement brings the number of committed Global Forum members to 131 out of 174 participating nations, representing 75%. Nearly 120 countries are already conducting automatic information exchanges.
Gaël Perraud, Chair of the Global Forum, stated that Liberia’s decision will help the country combat tax evasion and boost domestic resource mobilisation. He highlighted that Africa now has 15 countries committed to implementing the Common Reporting Standard.
What the standard requires
The Common Reporting Standard, developed following a G20 request and approved by the OECD Council in July 2014, mandates that jurisdictions collect financial account information from their financial institutions and exchange it with other jurisdictions annually. The standard specifies which financial institutions must report, which accounts and taxpayers are covered, and the due diligence procedures institutions must follow.
Next steps for implementation
The Global Forum Secretariat will support Liberia’s tax authorities throughout the implementation process. The Global Forum will track the country’s progress and report status updates to member nations and the G20.
