Dombrovskis says he hopes Paradise Papers will create momentum for EU deal on tax havens

European Commission Vice-President Valdis Dombrovskis expressed hope on Tuesday that the revelations of the so-called Paradise Papers will create a new momentum to reach an agreement among member-states on the EU’s outstanding proposals to fight tax evasion and aggressive tax planning, during a press conference after the ECOFIN meeting in Brussels.

“Today, we reaffirmed the Commission’s strong commitment to combating tax evasion and unfair tax policies,” Dombrovskis said, adding that EU finance ministers have yet to approve the proposals of the Commission.

“I hope that the recent leaks will create a new momentum to reach an agreement,” he said.

The main topic in Tuesday’s ECOFIN was the black list of non-cooperative tax jurisdictions (tax havens) around the world compiled by the Commission after the Panama Papers story in April 2016. Dombrovskis said the Commission aims to achieve a deal on the issue among member-states at the next ECOFIN meeting on December 5.