What is tax ID in SAP FI - Financial Accounting?

SAP Term: tax ID

• Component: FI

• Component Name: Financial Accounting

• Description: A number assigned, in Thailand, by the local revenue department to all legal and natural persons that are liable for tax.

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• Key Concepts: 
  Tax ID is a unique identifier assigned to a business or individual by the government for tax purposes. It is used to identify the taxpayer and track their tax payments and filings. In SAP Financial Accounting (FI), the Tax ID is used to identify customers and vendors in the system, as well as to track their tax payments and filings.
  
  How to use it: 
  In SAP FI, the Tax ID is entered into the customer or vendor master data record. This information is then used to identify the customer or vendor in the system, as well as to track their tax payments and filings. The Tax ID can also be used to generate reports on customers or vendors, such as sales or purchase reports.
  
  Tips & Tricks: 
  It is important to ensure that the Tax ID entered into the customer or vendor master data record is accurate and up-to-date. This will ensure that all tax payments and filings are tracked correctly in SAP FI.
  
  Related Information: 
  For more information on how to use the Tax ID in SAP FI, please refer to the SAP Help documentation.