Israeli financial institutions will have to start sending details of foreigners' bank accounts to the authorities by the end of 2017, as part of a global push to boost tax collection, the Finance Ministry said on Sunday.
Israel's tax authority will then forward the information onto the account-holders' home countries - and, in exchange, get details of accounts held by Israelis abroad, the ministry added.
The global scheme, agreed through the Organisation for Economic Co-operation and Development (OECD), covers banks, insurance companies, investment funds and other institutions.
The ministry said it was preparing a final version of regulations to be submitted to parliament's finance committee for approval.