Tax convergence and the Next Generation European Union

In this article, the author describes the spontaneous convergence of COVID-related tax measures that occurred in 2020, which was closely followed, at the EU level, by a new recovery instrument, with far-reaching goals, denominated Next Generation EU. The author explains how the process of tax convergence was connected to a broader institutional process that has “fiscal underpinnings” in the broadest sense, and draws conclusions on the innovative formula that emerged in this specific area of EU fiscal architecture.