Hidden economy practices are not always a part of, as its name suggest, low profile activities in the economy. The Panama Papers leaks have revealed a matrix of high profile tax evasion practices which have hidden much needed revenue streams towards the EU economies and towards the quantity and quality of the public services their Governments are supposed to provide. What has become clear is that there is a need for more complete cross-border transparency and international tools to deal with the problem as hidden economy and tax evasion practices are a global phenomenon despite having a local character. However, as certain EU countries (Ireland, Luxemburg) as tax havens are guided by self-interest, the move to immediately seal the cracks within the EU tax system will surely be a bumpy one.