Al-Munir: The Agreement to Prevent the Erosion of the Tax Base Preserves Egypt’s tax rights internationally

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Amr Al-Mounir, former deputy finance minister for tax policies, said that Egypt’s accession to the international agreement for the implementation of measures to prevent the erosion of the tax base and the transfer of profits contributes to preserving Egypt’s international tax rights internationally, and bridges the gaps of current double taxation agreements by strengthening governance to protect the tax base. And curb harmful tax planning strategies as well as prevent misuse of tax treaties, by multinational corporations.

Al-Munayer added in a special statement that once that agreement enters into force, all tax agreements signed by Egypt are considered to be inclusive of all the amendments contained in the agreement, which would have been difficult to happen in the event of negotiations to amend these agreements bilaterally separately, and what used to take time, effort and cost with the presence of Texts within the agreements may prohibit this modification in certain cases. Al-Munir participates with experts in international taxes in a workshop on the agreement to be held next Saturday and Sunday, and organized by the Scientific Association for Tax Legislation, in cooperation with the Arab Administrative Development Organization.

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