On 24 May 2016, Costa Rica's Legislative Assembly approved the pending tax information exchange agreement with Ecuador. The agreement, signed 4 June 2013, is the first of its kind between the two countries and is in line with the OECD standard for information exchange. It will enter into force 30 days after the ratification instruments are exchanged, and will apply for criminal tax matters from the date of its entry into force and for other tax matters from 1 January of the year following its entry into force.