Multinational tax avoiders could be named and shamed if sweeping recommendations from a leaked Senate inquiry report into tax avoidance are adopted by the Federal Government.

The ABC has seen a draft copy of the interim report due to be tabled in Federal Parliament later today, which urges a significant crackdown on companies using complex loopholes to avoid or minimise tax.

One of the committee's 18 recommendations outlines an "automatic trigger that would require the ATO (Australian Tax Office) to publish the names of companies that are subject to investigation".

The committee also suggests a public register of tax avoidance settlements reached with the ATO where a settlement is above an agreed threshold.

In what could send shudders through corporate boardrooms in Australia and around the world, the committee wants the ATO and Treasury to report annually on what's described as "aggressive tax minimisation activities and tax avoidance schemes of large domestic and multinational corporations".

If the recommendations are adopted, the ATO would be asked to report annually on the amount of tax that is not collected because of corporate tax avoidance schemes.

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Inquiry chairman and Labor senator Sam Dastyari would not go into the specifics with the official report yet to be tabled.

But he told the ABC's AM program that he supported the public outing of companies suspected of dodging their fair share of tax in Australia.

"The worst tax offenders should be named and shamed," he said.

"What we have is a handful of the largest, most powerful multinational companies in the world operating in Australia in a manner in which they've arranged their tax affairs simply to minimise their tax income in this country.

"My personal view is that it's appalling. My personal view is that this is a broken system.

"If you and I owed the Tax Office money we'd expect to be chased to the corners of the Earth to get it.

"The same should be happening for these big multinationals."

The interim report also recommends that confidentiality provisions are changed so the corporate regulator ASIC can share information with the ATO without having to inform the affected person or company.

The committee also urges the Federal Government to take unilateral action on corporate tax cheats rather than waiting for a coordinated global pact which was a key feature of last year's G20 summit.

Senator Dastyari said the report should come as a wake-up call on how Australia is being fleeced by some multinational tax avoiders.

"The rhetoric of Joe Hockey has been fantastic, the actions been pitiful. After this report, for no longer can the Government hide and pretend they didn't know this was a problem," Senator Dastyari said.

"This is a problem, it's a huge problem. It's a fairness question and frankly there's a lot more that can and should be done".

Hockey hits out over leak

Treasurer Joe Hockey said the leaking of the report was an "extraordinary breach of the Senate rules".

He said he had already tabled a draft bill to crack down on multinationals who were not paying their fair share of tax.

"Senator Dastyari should be aware that in December, all companies that have a taxable income over $100 million have to disclose how much tax they pay in Australia," Mr Hockey said.

"In the middle of my budget speech, I actually tabled a draft bill to crack down on multinationals that are not paying their fair share of tax in Australia, and that is being rolled out.

"In the next sitting fortnight I will introduce that bill, and that's in partnership with the United Kingdom, but also we are taking a global lead in going after 30 primarily offshore-based companies that are not paying their fair share of tax.

"And finally we have more resources allocated in the Australian taxation office that has already delivered a dividend of $400 million extra tax revenue, going after multinationals and not paying their fair share."

Assistant Treasurer Josh Frydenberg said he disagreed with naming and shaming tax dodgers.

"I don't think it's a good idea to name and shame, particularly when all this information is already in the possession of the ATO," he told ABC NewsRadio.

"That's not going to raise one extra dollar of tax for the Australian tax office and the Australian people. What will raise extra money is if we are better resourcing and changing the legislation as we have done to enable the Australian tax office to go after these companies.

"What we are trying to do is to clamp down on multinational companies that may be engaged in transfer pricing or profit shifting and paying less tax than they should."

Whistleblower details global web of tax avoidance

The interim report coincides with explosive new evidence on the extent of corporate tax avoidance globally.

The Seven Network's Sunday Night program has convinced a key whistleblower to go public and he has detailed a global web of tax avoidance using complex schemes.

Antoine Deltour, a 29-year-old accountant, downloaded 28,000 documents from PriceWaterhouseCoopers in Luxembourg detailing strategies exploited by multinationals operating in Australia.

When asked why, he said it was "because I believe that this information wasn't known and that it could be useful to document a practise that had to change in my opinion".

Mr Deltour has been described as the financial equivalent of Edward Snowdon and Julian Assange.

He has been charged under European law with "exposing trade secrets" and faces five years prison for exposing the tax minimisation strategies.

Margaret Hodge, the British MP who successfully campaigned for what's now known as the Google tax, told Sunday Night that global tax avoidance runs deep.

"The big accountancy firms, the big lawyers, probably the banks too are all engaged in really industrial scale style tax avoidance, aggressive tax avoidance and yet they get away with it," she said.

Senator Dastyari said the extent of global tax avoidance underscores the need for greater transparency as governments race to keep up with corporate tax strategies.

"This is a cat and mouse game. A smart bunch of accountants are always going to try and find different loopholes and what we need to do is be incredibly vigilant and forever be prepared to update and enhance the laws that we have," he said.