Amr El-Monayer, deputy finance minister for tax policies, submitted his resignation to Prime Minister Sherif Ismail to leave his position effective immediately, following disputes with Finance Minister Amr El-Garhy.
Amr El-Monayer was appointed deputy finance minister in March 2016 within state plans to carry out reforms to the tax sector, with the aim of increasing revenues and controlling the growing budget deficit, through appointing three deputy finance ministers for the first time.
The period during which El-Monayer took office saw the approval of many tax reforms, the most prominent ones being implementing a value added tax and approving a policy to settle tax disputes, in addition to developing the tax system and preparing a policy for small and medium enterprises (SMEs).
Governmental sources said that the past period has seen escalating disputes between the minister of finance and the deputy minister of finance. Up to time of publishing, El-Monayer has refused to comment on his resignation.
El-Monayer held several positions including partner-in-charge of international tax and tax consulting at PricewaterhouseCoopers (PwC), as well as the deputy assistant minister of finance for tax policy from 2006 until 2011.
He was also a former member of the UN Committee of Experts on International Cooperation in Tax Matters, and former chairperson-in-charge of the Centre for Tax Policy and Administration in Middle East and North Africa at the Organisation for Economic Co-operation and Development (OECD).
For his part, Minister of Finance Amr El-Garhy told Daily News Egypt that tax reforms will continue in Egypt regardless of any resignations at the ministry.
“The deputy finance minister for tax policies is very professional in his work and has my appreciation and respect. He made his resignation decision independently,” El-Garhy said.