The Government is rejecting opposition calls for a planned register of foreign trusts to be made more publicly accessible.

SEE ALSO: Govt to act on recommendations made in foreign trust inquiry

Under current proposals the register will only be able to be used by IRD, the department of Internal Affairs and Police.

Revenue Minister Michael Woodhouse said it's important to bear in mind we don't have a register of domestic trusts and to put in a higher standard for international trusts, would be inappropriate.

And he said the Shewan Inquiry indicated there could be problems with open access.

"We agree with that. We believe it should be searchable but only by responsible agencies."

Labour MP Grant Robertson said it's his view the register should be as public as possible and that foreign jurisdictions be able to access it.

"If those people aren't able to see the register then I don't think it's going to have the full effect that it needs."

The Government is also being urged to include anti-money laundering legislation to the reforms of foreign trusts.

So far the Government's intention is to keep the matters separate.

Labour's calling for both matters to be considered at the same time as part of a Tax Bill due before Parliament next month.

But Mr Woodhouse said there are complexities with phase two of the anti-money laundering work that makes it prudent for there to be a more considered approach.

"And we are hopeful of getting that done by the middle of next year. By doing it by Order in Council could have had some unintended consequences and we believe that it's best to just move at a slightly more measured pace."

Grant Robertson appreciates it needs a bit of work to include lawyers and accountants, but believes it's an important part of the law change.

"We have to stop the idea that accountancy can step outside of the regime. The government's been working on this for some time. It has a tax bill ready to go. They should include lawyers and accountants within that."