Members of the European Parliament’s Special Inquiry into Money Laundering (PANA) have called for the creation of a permanent standing committee to investigate wrongdoing in the field of taxation.

The announcement was made at the start of a public hearing on the Paradise Papers by Werner Langen, Chairman of Parliament’s Special Committee on Money laundering, Tax Avoidance and Evasion (PANA).

Mr Langen said that before any decision could be made on a standing committee, in the interim, PANA members wanted a special inquiry to investigate the revelations of aggressive tax planning uncovered by the Paradise Papers.

Later, during the hearing, MEPs were joined by the Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici, who was questioned closely about the details of a new blacklist of tax havens. Mr Moscovici said he expects to publish and make public the list by next Tuesday.