On 15 August 2018, the Swiss Federal Council adopted the dispatch for the approval of the pending income and capital tax treaty with Saudi Arabia. The treaty, signed 18 February 2018 ({News-2018-04-06/T/6-previous coverage}), is the first of its kind between the two countries and will enter into force on the first day of the second month following the exchange of the ratification instruments and will apply from 1 January of the year following its entry into force.