On 5 February 2018, the United Arab Emirates president issued the federal decree for the ratification of the pending income tax treaty with Paraguay. The treaty, signed 16 January 2017, is the first of its kind between the two countries ({News-2017-08-28/T/5-previous coverage}). It will enter into force once the ratification instruments are exchanged, and will apply from 1 January of the year in which it was signed (1 January 2017).