On 27 September 2019, Luxembourg's Government Council approved the draft law for the ratification of the pending income and capital tax treaty with Argentina. The treaty, Signed 13 April 2019 ({News-2019-05-03/T/2-previous coverage}), is the first of its kind between the two countries and will enter into force once the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force.