Tax evasion and minimisation by companies could cost the federal budget at least $26 billion, former treasurer Wayne Swan says.
The Australian Taxation Office on Thursday released for the first time a comprehensive list of major companies that paid little or no tax in 2013/14.
It found more than a third of all large public and foreign companies in Australia paid no tax last year.
Mr Swan said assuming 10 per cent of revenue was lost due to aggressive minimisation or evasion, the cumulative cost to the budget would be $26 billion over four years.
Corporate income tax, which totalled $267 billion over the past four years, is essential to funding federal government services such as health and education.
Mr Swan said many companies had legitimate reasons for paying little or no tax, but there were others that were "serial tax avoiders" and needed greater scrutiny.
"By turning a blind eye to these activities, the coalition is trying to provide a justification for increasing the regressive GST from 10 per cent to 15 per cent," Mr Swan said.
"But consumption taxes lead to lower consumption and are a handbrake on growth.
"We need a new conversation about responsible tax paying."
Mr Swan said it also had global implications, with countries seeking to rise out of poverty finding it hard to fund essential services while multinationals sought to minimise their tax.
"The developing world is being sabotaged," Mr Swan told AAP on Friday.
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