<h1>Finance Minister Urges G20 to Combat Tax Evasion with Global Cooperation and Adoption of Common Reporting Standards by 2018.</h1> The Finance Minister addressed the G20 on international tax issues, emphasizing concerns over Base Erosion and Profit Shifting (BEPS) which undermines tax bases in developing economies and disadvantages domestic companies. He highlighted the need for automatic, reciprocal exchange of financial account information to combat offshore tax evasion and illicit money flows. The Minister urged all countries to adopt Common Reporting Standards by 2017 or 2018 and called for the Global Forum to ensure effective implementation and monitoring of these standards worldwide, emphasizing the necessity of global cooperation to tackle black money and tax evasion.