The Commission has welcomed the agreement reached on 23 May by Member States on new measures to help resolve double taxation problems for all citizens and businesses in the EU. Proposed by the Commission only seven months ago, the new rules will allow businesses and citizens to reduce double taxation, one of the biggest obstacles to the functioning of the Single Market. In corporate taxation alone, there are currently around 900 double taxation disputes in the EU estimated to be worth EUR 10.5 billion in tax revenues. The new rules regarding dispute resolution will ensure that when income is double taxed, taxpayers will have a clear, quick and definitive process for resolving the issue, either through agreement by the Member States concerned or through a decision of an advisory commission. Citizens and small companies will benefit from an even further simplified procedure. Once the European Parliament has issued its opinion, the new rules will be formally adopted by the Council and will apply to double taxation disputes from 1 July 2019.