Governments across 65 countries have collected more than 37 billion ($49.9 billion) in tax from secret offshore accounts since 2009, according to the Organisation for Economic Co-operation and Development(OECD).
The figure emerged as OECD unveiled the full version of a new global standard for the exchange of information between jurisdictions.
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The new rules on automatic information exchange are the latest move by governments mounting a concerted attack on evasion in the wake of the global financial crisis and a series of tax scandals.
The standard, developed at the OECD under a mandate from the G20, endorsed by G20 Finance Ministers in February 2014, and approved by the OECD Council.
The standard provides for annual automatic exchange between governments of financial account information, including balances, interest, dividends, and sales proceeds from financial assets, reported to governments by financial institutions and covering accounts held by individuals and entities, including trusts and foundations.
"The G20 mandated the OECD to work with G20 and OECD countries and stakeholders toward the development of an ambitious information exchange model that would help governments fight tax fraud and tax evasion," said OECD secretary-general Angel Gurria. "Today’s launch moves us closer to a world in which tax cheats have nowhere left to hide."
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By GlobalDataThe OECD will formally present the Standard to G20 Finance Ministers at their next meeting in Cairns, Australia, on 20-21 September.
"Our message will be clear and simple: the automatic exchange of information standard is ready for implementation," Gurria added.
More jurisdictions are expected to commit to implement the standard in the run up to the late-October meeting of the Global Forum Transparency and Exchange of Information for Tax Purposes, which brings together more than 120 countries and jurisdictions, to be held in Berlin and hosted by the German ministry of finance.
