Shadow communications minister Malcolm Turnbull has raised the possibility of increasing taxes on global technology giants such as Google and Facebook, saying that they are eroding Australia's tax base.

Turnbull says a Coalition government will seek to make Facebook and Google pay more tax after Google Australia's latest accounts showed that it had only paid $74,176 in local taxes, according to the Australian Financial Review.

Google's local operations posted total operating revenue of $201 million in 2011 and paid no tax on the $940 million generated in Australia by its search advertising business.

This article first appeared on SmartCompany.