On 11 September 2018, Uruguay's Chamber of Representatives approved the law for the ratification of the pending income and capital tax treaty with Paraguay. The treaty, signed 8 September 2017, is the first of its kind between the two countries. Taxes Covered The treaty covers Paraguayan personal income tax, corporation tax, income tax on agricultural business, and income tax on small businesses. It covers Uruguayan tax on business income, personal income tax, non-resident income tax, tax for social security assistance, and capital (wealth) tax. Residence If a company is considered resident in both Contracting States, the competent authorities will determine...