India has asked Switzerland to expeditiously ratify the OECD convention on automatic exchange of tax information, a move which will help deal with menace of black money.
"I would urge you and your (Swiss) government to ratify the multilateral convention on mutual administrative assistance in tax matters as early as possible," outgoing Finance Minister P Chidambaram has said in a letter to Swiss counterpart Eveline Widmer-Schlumpf.
"Once you ratify the convention, I am confident that your government will abide by its obligation under the convention as well as under the declaration that your country signed on May 6 2014," he added.India and a large number of other countries, including Switzerland, have adopted a global declaration for automatic exchange of tax information under auspices of OECD.