The role of external review in enhancing tax planning practices for investment agencies and companies in the sports sector and its impact on the Saudi economy
Authors
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Ahmed K. Hassan
Department of Physical Education, College of Education, King Faisal University, Al-Ahsa 31982, Saudi Arabia, and Department of Team Sports and Racket games, Faculty of Physical Education, Minia University, Minya 61519, Egypt.
https://orcid.org/0000-0002-2918-7572
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Mohammed S Alibrahim
Department of Physical Education, College of Education, King Faisal University, Al-Ahsa 31982, Saudi Arabia.
https://orcid.org/0000-0002-9141-3470
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Khaled M Zahran
Department of Physical Education, College of Education, King Faisal University, Al-Ahsa 31982, Saudi Arabia, and Department of Fights and Individual Sports, Faculty of Physical Education, Minia University, Minya 61519, Egypt.
https://orcid.org/0000-0002-5838-4321
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Hatem Abd Elmonem Saleh Eldiasty
Department of Physical Education, College of Education, King Faisal University, Al-Ahsa 31982, Saudi Arabia, and Department of Individual Sports Training, Faculty College of Physical Education, Helwan University, Egypt.
https://orcid.org/0000-0001-5239-3393
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Mustafa Issa Ali Al Ahmed
Department of Physical Education, College of Education, King Faisal University, Al-Ahsa 31982, Saudi Arabia.
https://orcid.org/0009-0006-2249-4875
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Latifah Abdulaziz Alhamdan
Department of Physical Education, College of Education, King Faisal University, Al-Ahsa 31982, Saudi Arabia.
https://orcid.org/0000-0003-2259-4228
DOI:
https://doi.org/10.18488/74.v11i2.3791Abstract
The current study aimed to investigate the influence of an external audit on the achievement of tax planning practices in investment authorities and sporting companies, and to analyze its impact on the Saudi economy. We employed a descriptive method, specifically the survey method, to establish the objectives of this report. The participants represented the tax departments of the General Authority of Zakat and Income in addition to the responsible parties in the sports ministry, the ministry of investment, the sports authorities’ managers and the private companies, the commercial law and economic law experts, experts in sports law and sports management, and the sports law and sports management experts. They serve as members of the board of directors for various Saudi sporting organizations. The research used 350 participants as the sample frame, collecting data through the use of questionnaires. A consensus has been reached on tax avoidance approaches such as structure decisions and deductible costs that have been influenced by factors like disparate taxes and administrative weakness. It also demonstrated the enhanced application of external audit principles, leading to improved effectiveness and efficiency in tax planning. The research that was conducted has noted the need for external auditing to enhance financial and tax management and economically strengthen Saudi Arabia. The economic effects of such practices can be studied in future studies by expanding on the employment, investment, and economic growth dimensions of qualifications in the sports industry in the Kingdom of Saudi Arabia and adding financial and economic views.
