Tonight, coordinators in the Economic and Monetary Affairs committee of the European Parliament agreed to create a permanent sub-committee on tax and financial crime.

The Conference of Presidents of the Parliament will now need to approve the sub-committee and the precise mandate has yet to be agreed.

The sub-committee follows on from three special committees and an inquiry committee and is a long standing demand of the Greens/EFA group.

Sven Giegold MEP, Greens/EFA Coordinator in the Economic and Monetary Affairs committee and spokesperson on economic affairs, comments:

"Tonight's decision is a victory for all of us who want to see an end to the dodgy tax practices and illicit activities that undermine the global financial system and divide our societies.

"Now, finally the Parliament will have the tools to be proactive and stronger in in the fight against tax avoidance, evasion and related financial crimes.

"With important reforms coming up like improving EU anti-money laundering standards and updating tax rules for the digital economy, there will be plenty of work for the Parliament to ensure Member States deliver for EU citizens.

"Now it's up to the new European Commission to show the same kind of ambition in the fight against tax avoidance and evasion."