On 26 August 2014, Uruguay's Chamber of Senators approved the 2013 tax information exchange agreement with the U.K., which was ratified by the U.K. on 27 May 2014. The agreement is the first of its kind between the two countries and is in line with the OECD standard on information exchange. The agreement will enter into force once the ratification instruments are exchanged, and will generally apply from the date of its entry into force.