Hello, Nassim briefly with you to share on one of my favourite topics: tax!

Multinationals could soon face new laws that force them to publicly reveal taxes they pay in each jurisdiction around the world.

The Albanese government is set to introduce its corporate tax transparency disclosures legislation to parliament this week.

While about 140 corporations, including BHP, Rio and Woolworths, already do some form of voluntary public country-by-country reporting, this would force all multinationals operating in Australia to open their books to the public with far more detailed information than is currently available.

Business lobbies have been fighting the laws, arguing it goes far beyond tax transparency disclosures offered in other jurisdictions including the EU.

But in a joint letter to the federal government from Australian trade unions and international civil society organisations, they urge the government to keep "standing firm against the intense lobbying it has faced from the professional enablers of tax abuse".

Jason Ward, principal analyst at the Centre for International Corporate Tax Accountability and Research, said arguments by business that this would be a major cost impost were over exaggerated given all companies were already reporting this information to the Australian Taxation Office (ATO).

"Transparency will drive changes in corporate behaviour, if obvious profit shifting practices will be exposed and open to criticism," he said.

The Tax Justice Network's Mark Zirnsak said "publicly seeing where corporations are conducting their business and where they are allocating their profits helps to deter and expose tax avoidance".

"It allows customers to decide which corporations they wish to buy from and investors which businesses they wish to invest in knowing the risks that a corporation might be at high risk of adverse action by tax authorities," he said.

I wrote a detailed piece when business first fought off the laws, you can read that here: