What is tax date in SAP FI - Financial Accounting?

SAP Term: tax date

• Component: FI

• Component Name: Financial Accounting

• Description: The date on which the tax liability arises. This date can determine the tax reporting period in which the tax liability must be declared to the tax authorities. The date can also determine the tax rate and the exchange rate date used for tax calculation. Depending on the specific country regulations and the business operation of a company, the date can be, for example: Posting date Document date Delivery date Payment due date A predefined date special agreement between vendor and customer, or defined by law The following local-language terms describe the usage of tax date in the affected countries: Czech Republic: Datum dane Hungary: ÁFA teljesítés dátuma Poland: Data powstania obowiazku podatkowego VAT Slovakia: Den dodania tovaru alebo sluzby Spain: Fecha de Operación

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• Key Concepts: 
  Tax date is a term used in SAP Financial Accounting (FI) to refer to the date on which taxes are due. This date is used to determine when taxes must be paid and when they can be claimed as deductions. It is important to note that the tax date may differ from the accounting period end date. 
  
  How to use it: 
  In SAP FI, the tax date is set in the company code configuration. This can be done by navigating to the “Company Code” tab in the “Financial Accounting” menu and selecting “Edit”. The tax date can then be entered in the “Tax Date” field. 
  
  Tips & Tricks: 
  It is important to ensure that the tax date is set correctly in order to ensure that taxes are paid on time and deductions are claimed correctly. It is also important to note that the tax date may differ from the accounting period end date, so it is important to check both dates when setting up a company code. 
  
  Related Information: 
  For more information on setting up a company code in SAP FI, please refer to the SAP Help documentation at https://help.sap.com/viewer/product/SAP_FI/6.0/en-US.