Tax evaders have nowhere to hide: O'Dwyer

Australia is closing in on 100 taxpayers who have been identified in the Panama papers, which leaked details of potential tax evasion across the globe, and profiles of a further 1000 individuals are being reviewed through intelligence obtained from other tax jurisdictions.

The Australian Taxation Office and Serious Financial Crime Taskforce have made 15 unannounced access visits in Victoria and Queensland, and executed three search warrants, in what Revenue Minister Kelly O'Dwyer has labelled a "week of action".

"People who avoid paying the right amount of tax must understand there is no place to hide," she said in a statement on Tuesday, adding that offshore structures and trusts do have a genuine purpose, but many are being used to evade tax.