Australia has been accused of delaying global action on tax evasion by failing to sign an early information sharing agreement as part of its commitment to the G20.

The agreement, part of the OECD's new automatic exchange program, was endorsed by finance ministers at a G20 meeting in Sydney in February.

Federal Treasurer Joe Hockey has promised to 'name and shame' countries that fall behind economic growth targets. Credit:Louise Kennerley

Australia is chair to the G20 and will lead discussions on tax evasion and profit shifting at meetings in Brisbane in November.

The exchange program will see tax authorities swap private information on bank accounts and other financial assets every year. It is seen as a key reform in the global crackdown on tax evasion.