Australia's multinational tax avoidance laws strong says Treasurer

A huge global leak of financial documents has exposed the tax affairs of a host of wealthy people and large multinational companies, including some that operate in Australia.

Newly leaked papers have revealed that Queen Elizabeth II has placed some of her private money into offshore tax havens. Source: AAP Image/AP Photo/Alastair Grant

The documents, dubbed the Paradise Papers, reveal how powerful people, including the Queen, secretly invest vast amounts of money in offshore tax havens like Bermuda.

The millions of papers were obtained by a German newspaper and shared with the International Consortium of Investigative Journalists.