"We will continue to work together toward a fairer, more inclusive, stable, and efficient international tax system fit for the 21st century, restating our commitment to tax transparency and fostering global dialogue on effective taxation, including of ultra-high-net-worth individuals," the G20 group of nations wrote in a communique after discussions during the International Monetary Fund and World Bank annual meetings.

The commitment is expected to be approved by G20 leaders at a conference next month in Rio de Janeiro, Brazil.