France has urged the OECD to place Panama on its "blacklist" of tax havens following the Panama Papers scandal. 

"I want the OECD to meet so that the same decision (as France) is taken by all the countries concerned," French Finance Minister Michel Sapin said. 

Sapin had told the French parliament yesterday that France would put Panama back on its list of "uncooperative countries." 

"Unfortunately Panama has a bit of a tendency to make u-turns, to play the good guy and then the bad guy. This cannot go on," Sapin said. 

He said France "must not be alone" in putting the Central American nation back on a "tax haven" list. 

"It has to be a general move," he stated. 

Panama's government threatened yesterday that it could hit back if France took the step, by taking measures including blocking foreign investment or withholding public tenders.

Meanwhile, a UK based tax specialist has said Ireland should expect some fallout over its low rate of corporation tax on the back of the leak of the 'Panama Papers'. 

Richard Murphy said that Ireland is seen as a low tax jurisdiction and that the Irish Financial Services Centre does not have the best reputation globally as a result of that.

Mr Murphy said there is the potential for Ireland to suffer reputational damage, particularly if some of those companies that were previously off-shore, move to Ireland.