On 4 May 2017, the Italian Senate announced the definitive approval of the bill for the ratification and implementation of the pending income tax treaty with Romania ({News-2016-03-09/T/3- previous coverage}). The treaty, signed 25 April 2015, will enter into force once the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force. Once in force and effective, it will replace the 1977 tax treaty between the two countries.