What is tax registration number in SAP FI - Financial Accounting?

SAP Term: tax registration number

• Component: FI

• Component Name: Financial Accounting

• Description: An identification number assigned by financial authorities to each sales office for reporting corporate income tax and VAT.

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• Key Concepts: 
  A Tax Registration Number (TRN) is a unique identifier assigned to a business or individual by the tax authority in their country. It is used to identify the entity for tax purposes and is required for filing taxes. In SAP Financial Accounting (FI), the TRN is used to identify the company or individual for tax reporting purposes. 
  
  How to use it: 
  In SAP FI, the TRN is entered in the company code master data. This information is then used in various tax reports and documents, such as VAT returns and other tax declarations. The TRN can also be used to identify customers and vendors in the system, allowing for easier tax reporting. 
  
  Tips & Tricks: 
  It is important to ensure that the TRN entered in SAP FI is accurate and up-to-date. This will ensure that all tax reports and documents are accurate and compliant with local regulations. 
  
  Related Information: 
  The TRN can also be used to identify customers and vendors in other SAP modules, such as Materials Management (MM) and Sales & Distribution (SD). This allows for easier tracking of customer and vendor transactions across different modules.