Tax authorities worldwide have joined forces in a cooperative move that plans to encourage tax compliance and counter tax evasion, particularly among banks, high net worth individuals and offshore activities. A report published by the Organisation for Economic Cooperation and Development said that: 'High net worth individuals pose significant challenges to revenue bodies and to the integrity of tax systems because of the complexity of their affairs. Though potentially big taxpayers, they are wealthy enough to engage in tax planning which may enable them to avoid significant parts of their tax obligations.' Dave Hartnett, permanent secretary for tax at HM Revenue and Customs, welcomed the move and the 'significant progress made in encouraging countries to adopt and in some cases, go beyond the OECD standards on exchange of information.' The report said that banks pose a risk for tax administrations because they engage in tax avoidance on their own account provide schemes and shelters for others and fund aggressive tax planning.