Legal and tax processes of MSMEs in the clothing sector of the city of Ocaña

Abstract

MSMEs represent around 90% of existing companies globally, employ 50% of the workforce and participate in the creation of 50% of world GDP (Valdés & Sánchez, 2012), in the same way according to the newspaper Economic (Portafolio, 2017), in Colombia, 99.5% of the economic exploitation units are Mipymes, which makes them the main foundation of national productive activity; As well as the Magazine (Dinero, 2017) establishes that "today MSMEs generate 80% of employment in the country, which shows the importance of working for the development of these companies." In the city of Ocaña and its area of ​​influence, Micro and small and medium-sized enterprises "MSMEs" play an important role since they constitute the basis of the local economy. Thus, the business sector of the city of Ocaña Norte de Santander is made up of 3,358 commercial establishments, where the apparel sector belongs, which is made up of "MSMEs" who develop within their corporate purpose the elaboration of garments of dress for women, men and children, these companies in large proportion are not legally constituted as companies, belonging to the informality. Taking into account the above, the merchant of the clothing sector of the City of Ocaña Norte de Santander does not have the culture of the organization and control of the activities they carry out, for this reason they do not have financial statements that allow them to know the economic reality of their activities.

Keywords

• microenterprises
• smes
• legality
• accounting
• tax