DESCRIPTION: "European legal act aiming to improve the system for resolving disputes over tax agreements between EU countries, thus giving both citizens and businesses greater certainty and more timely decisions. It concerns in particular disputes over double or multiple taxation — where 2 or more countries claim the right to tax the same income or profits. It builds upon the 1990 convention on the elimination of double taxation which is limited to disputes over transfer pricing and the allocation of profits to permanent establishments (also known as the Union Arbitration Convention — UAC). "