Fiscal policy and its incidence in the management of family business in Colombia

Gustavo Adolfo Sierra Romero ()
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Gustavo Adolfo Sierra Romero: Universidad de la Costa, Barranquilla, Colombia

TEC Empresarial, 2018, vol. 12, issue 1, 39-49

Abstract: Global economy gaps, inequality, social injustice and unemployment are the reasons why families emerge as a prime source of sustenance. Usually, family businesses work informally, but sometimes they camouflage as a legal structure within the local normativity. In some countries, this kind of organization lacks legal existence, and occasionally, even tax legislation. The objective of this paper is to set tax aspects of family business, based on research about this social reality. The data collected from Colombian entrepreneurs was compared with international references, the latter using the inductive method, with a descriptive scope and a qualitative approach to study the results. The outcome of this paper was the imperative need of having a proper normative basis for this kind of business, due to the fact that they comprise a significant percentage of the countries’ economic organizations; therefore their existence, and legal and tax regulations are needed.

Keywords: Tax regime; family; heritage; government; audit (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ris:tecemp:1804

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