Assistant Minister for Treasury Andrew Leigh flags revenue from cracking down on multinational company tax dodges will begin to hit the budget in mid-2024

Assistant Minister for Competition, Charities and Treasury Andrew Leigh said funds from a series of tax measures announced last October would "in some cases" start to hit the budget in the middle of next year.

"The measures that we've announced have a range of different start dates," Dr Leigh said. "This is about moving as swiftly as we can, but carefully in consultation with businesses. We recognise that there are implementation challenges. We want to work with business."

The minister was commenting following a briefing by Organisation of Economic Cooperation and Development global tax expert David Bradbury on progress in implementing an international agreement to close tax loopholes for multinational companies, including setting a minimum effective 15 per cent tax rate.

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Mr Bradbury said more than 140 nations had signed up to the deal, creating a "critical mass of countries across the globe, coordinating to ensure that there will be a minimum level of tax paid, regardless of where you are based".

The meeting, which also involved peak business organisations and major companies, came as an international survey was released showing Australia was rated as one of the 10 best countries in the world to do business.

In the 2023 Foreign Direct Investment Confidence Index, compiled by Kearney management consultancy, Australia's score remained unchanged but it gained one position to be ranked tenth. United States was judged the best country to do business, followed by Canada, Japan, Germany and the United Kingdom.

Improved relations with China and strong commodity prices had contributed to Australia's performance, according to the survey, which also ranked countries according to government transparency, technological and innovation capabilities and ease of tax payments.