What is exempt tax invoice in SAP FI - Financial Accounting?

SAP Term: exempt tax invoice

• Component: FI

• Component Name: Financial Accounting

• Description: A tax invoice, in South Korea, that is issued to cover a tax-exempt or tax-free transaction.

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• Key Concepts: 
  An exempt tax invoice is a type of invoice used in SAP Financial Accounting (FI) to document a transaction that is exempt from taxation. This type of invoice is used when a customer is not required to pay taxes on the goods or services they are purchasing. 
  
  How to use it: 
  In SAP FI, an exempt tax invoice is created when a customer purchases goods or services that are exempt from taxation. The invoice will include the customer’s name, address, and other relevant information, as well as the amount of the purchase and any applicable discounts. The invoice will also include a statement indicating that the transaction is exempt from taxation. 
  
  Tips & Tricks: 
  When creating an exempt tax invoice in SAP FI, it is important to ensure that all relevant information is included and accurate. This includes the customer’s name, address, and other relevant information, as well as the amount of the purchase and any applicable discounts. Additionally, it is important to include a statement indicating that the transaction is exempt from taxation. 
  
  Related Information: 
  In addition to exempt tax invoices, SAP FI also supports other types of invoices such as standard invoices and credit notes. For more information on these types of invoices, please refer to the SAP Help documentation.