On 11 October 2018, Paraguay's Senate approved for ratification the pending income and capital tax treaty with Uruguay. The treaty, signed 8 September 2017, 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 generally apply from 1 January of the year following its entry into force ({News-2018-09-17/T/4-previous coverage}).