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The report urges governments to agree measures to clamp down on tax havens, close avoidance loopholes and combat aggressive tax planning in order to close what is called the "tax gap".

The tax gap, revenue lost to illegal tax fraud and evasion as well as through legal tax avoidance and aggressive tax planning that exploits loopholes, is estimated in the report at EUR 1trn annually.

The report puts forward 30 measures, ranging from a clear EU-wide definition of "tax haven" and a joint blacklist of these jurisdictions, to granting regulatory authorities the power to revoke bank licences to financial institutions found to be complicit in tax fraud.

The scope of the problem "clearly shows that unilateral measures will simply not achieve the desired effect," Kleva Kekuš told the MEPs today.

The report was adopted just a day before the EU summit, at which tax avoidance and evasion will be on the agenda.

Kleva Kekuš therefore called on the Irish EU presidency and member states to seriously examine report and the proposed measures.

The MEP also expressed criticism of "empty promises and media commitments" that leaders make at every G8, G20 and OECD meeting.