The Albanese government’s scaled-back multinational tax reporting rules risked weakening global efforts to stop big companies dodging revenue authorities, the OECD warned, and could have led to the halting of information exchanges with Australia.

Organisation for Economic Co-operation and Development Secretary-General Mathias Cormann has rejected international media reports that he had pushed the Albanese government to water down so-called country-by-country tax reporting rules, but said the now delayed plan could have undermined plans for a global minimum corporate rate.