Exchange of tax information and collection assistance enables mutual assistance between India and Liberia under the notified agreement. The Central Government, under section 90 of the Income-tax Act, notifies that the Agreement between India and Liberia for the exchange of information and assistance in collection with respect to taxes shall be given effect in India from the Agreement's entry into force. The Agreement requires competent authorities to exchange foreseeably relevant tax information and to lend reciprocal assistance in collection, subject to domestic rights, defined procedural requirements for requests, powers to obtain financial and beneficial ownership information, limited grounds for refusal, and obligations for implementing legislation and mutual agreement on procedures.