"Wesfarmers derives income and profits from the communities in which it operates, in Australia and New Zealand, and it's fair that we pay tax in those countries. It's absolutely appropriate that we pay our tax."

Earlier this year Fairfax Media revealed insignificant rates of taxation paid by Google, Apple and Ikea on Australian-derived revenue.

"People in communities are within their rights to say 'company XYZ is selling its products here and making its profits here but they are not paying tax, so what's going on'? " Mr Goyder said.

"My personal view is that the tax issue will become a bigger one for companies, and will go directly to their reputation. You are starting to see that happen now and, frankly, I think it should."

Wesfarmers is the biggest private employer in Australia, with more than 200,000 staff. It owns the Coles, Bunnings, Target, Kmart and Officeworks retail operations, as well as significant agriculture and mining interests, and boasts more than 500,000 shareholders.