Margaret Hodge, chair of the public accounts committee, said major corporations should be stripped of their right to full privacy over their tax affairs.
She told the Independent new rules should be brought in forcing companies to make a full disclosure to MPs in closed sessions, which would allow their arrangements to be scrutinised.
Mrs Hodge told the newspaper: "We could have a committee of MPs overseeing them in private, the same way that the Intelligence and Security Committee operates. That has operated very effectively. There has never been a leak."
More top news
Special forces say they have attacked a sprawling site adjacent to the city's airport in a bid to liberate the area from IS.
Commuters were also warned to expect travel chaos as Doris gathered speeds of nearly 90mph.
A man with 62 penalty points on his licence is among thousands of motorists allowed to drive despite exceeding the limit warranting a ban.