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The European Commission has proposed a detailed COVID-19 Recovery Plan which includes more taxes going directly to the European Union. In the short term, the European Union will borrow to finance Member State investment in what is effectively the multi-annual financial framework (MFF) for 2021-2027. The framework will be discussed in the coming months and, if approved, put in place this year. There would be some knock-on effects on work previously planned for 2020 (as discussed in our earlier Bulletin of 7 May 2020), including a number of tax proposals.