Hockey working on tax avoidance laws

Treasurer Joe Hockey is drafting new laws to counter tax avoidance by multinational companies, but won't speculate what form they might take.

While it was essential there be a global approach, the government was "absolutely determined to do whatever we can, as soon as we can", he told reporters in Canberra on Thursday.

"I don't want people to see it as a grab for revenue. I want to see it as an issue about the integrity of our tax system and the fairness of our tax system."