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Pranab urges Switzerland to ratify taxation deal

New Delhi, April 7 (IANS) Finance Minister Pranab Mukherjee Thursday urged Switzerland to immediately ratify the double taxation avoidance agreement that was signed between the two countries last August.

‘The ratification of the agreement would put the institutional framework in place which, in turn, would result in sharing of taxation related information between the two countries,’ Mukherjee said after meeting Johann Schneider Ammann, who heads Switzerland’s Federal Department of Economic Affairs, here.

Mukherjee urged the Swiss minister to expedite the process of ratifying the deal.

During the meeting, Ammann assured that the ratification of the double taxation avoidance agreement (DTAA) by the Swiss parliament would be expedited, the finance ministry said in a statement.

The Swiss minister, who is on a four-day official visit to New Delhi, urged India to open up the insurance and banking sectors for foreign investments.

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