On 12 August 2019 Costa Rica's President Carlos Alvarado approved the draft law for the ratification of the pending income and capital tax treaty with the United Arab Emirates. The treaty signed, 3 October 2017 ({News-2018-11-21/T/2-previous coverage}), is the first of its kind between the two countries and will enter into force 30 days after the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force.