What is 'tax authority' in SAP AP-BP - FDN-Business Partner Data Management?

tax authority - Overview

• Component: AP-BP

• Component Name: FDN-Business Partner Data Management

• Description: A government agency authorized to levy taxes upon employees, employers, or both.

tax authority - Details

• 
  Key Concepts: 
  A tax authority is an organization responsible for collecting taxes from individuals and businesses. In SAP, the tax authority is a business partner that is used to store information about the tax authorities in a particular country. This information includes the name of the tax authority, its address, and its contact details. 
  
  How to use it: 
  In SAP, the tax authority is used to store information about the tax authorities in a particular country. This information can be used to calculate taxes for customers and vendors. The tax authority can also be used to store information about the different types of taxes that are applicable in a particular country. 
  
  Tips & Tricks: 
  When setting up a new tax authority in SAP, it is important to ensure that all of the necessary information is entered correctly. This includes the name of the tax authority, its address, and its contact details. It is also important to ensure that all of the applicable taxes are correctly entered into SAP. 
  
  Related Information: 
  The tax authority is part of the Business Partner Data Management component in SAP. This component also includes other business partners such as customers and vendors. It is important to ensure that all of these business partners are correctly set up in SAP in order to ensure accurate calculations of taxes.