A Proposed Accounting Framework for Tax Accounting for Sustainable Development Activities in SMEs

A Proposed Accounting Framework for Tax Accounting for Sustainable Development Activities in SMEs

Hesham Zakaria Mohamed, Khaled Mohamed Mahmoud, Mujeeb Saif Mohsen Al-Absy, Hossam Osman
Copyright: © 2023 |Pages: 17
DOI: 10.4018/978-1-6684-4834-2.ch001
OnDemand:
(Individual Chapters)
Available
$37.50
Current Special Offers
No Current Special Offers
TOTAL SAVINGS: $37.50

Abstract

The chapter deals with determining the nature of sustainable development activities and their role in improving the performance of SMEs in the proposed accounting framework that works to clarify how to achieve tax accounting for the services and products provided by these projects. Without being exposed to the occurrence of the so-called tax pressure on their financial performance, which may hinder their development in the near future and increase their economic and financial value compared to other similar institutions operating in SMEs, and according to the latest statistic in 2021 received from the Central Agency for Mobilization and Statistics, SMEs in Egypt have about two million establishments in the private sector, in addition to what was reported by the Central Agency for Statistics. The need for an accounting framework comes with clear features of tax accounting for SMEs, as it will positively affect the performance of these projects by encouraging their continuity. The state should reduce unemployment and increase the informal economy.
Chapter Preview
Top

What Is Sustainable Development?

The beginning of interest in sustainable development in the seventies of the last century, as the Stockholm Conference of 1972 represents the initial beginnings of interest in the concept of sustainable development and the presentation of various discussions about the reality of environmental issues at the world level. Human life, taking into account the capabilities and capabilities of the ecosystem (Shobhalata, 2013), and the year 2002 is the real and global beginning to demonstrate the importance of sustainable development, specifically in the outcome of the World Summit in Johannesburg, South Africa (World Summit on Sustainable Development outcome; Biamrn Selin, 2013), and to determine what is sustainable development, the following can be addressed.

The Concept of Sustainable Development

Many opinions and scientific research have defined sustainable development as the decisions through which it is possible to increase the net gains from economic development while ensuring the preservation of natural resources without being negatively affected, but rather that their development is taken into account. In addition to this definition, sustainable development may be one of the alternatives to prosperity and progress in dealing with economic resources and their optimum utilization (Klarin, Tomislav, 2018). Taking into account the basic needs strategy and focusing on improving living conditions and taking care of the poor while maintaining sustainability in the economic and development fields and the available natural resources capable of development and renewal.

Therefore, sustainable development is defined as the compatibility between sustainable social and economic development and the preservation of the environment, and this is determined by the statement of the linkage and relationship between each of the economic, social and environmental dimensions, and taking into account future trends and needs in light of the current changes (Drexhage & Murphy, 2012)

Complete Chapter List

Search this Book:
Reset