The issue focused on the "unfairness" in which a "large number" of companies were allowed to keep profits offshore, according to the document.

"Companies are not required to make the money they make on their own capital available to the company that invests it or on the investment of their family or other business partners," said the report.

"This is particularly damaging when the money is not used in line with the company's strategy, such as a company's strategy to invest more in research