What is 'classification scenario' in SAP FS-FBS-TXC - SAP Tax Classification and Reporting for FATCA?

classification scenario - Overview

• Component: FS-FBS-TXC

• Component Name: SAP Tax Classification and Reporting for FATCA

• Description: A tax classification for a certain type of business partner such as 'person' under a certain regime such as 'IGA'.

classification scenario - Details

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  Key Concepts: 
  A classification scenario is a set of rules used to classify financial transactions for FATCA reporting. The FS-FBS-TXC SAP Tax Classification and Reporting for FATCA component provides a set of predefined classification scenarios that can be used to classify financial transactions for FATCA reporting. 
  
  How to use it: 
  To use the predefined classification scenarios, you must first configure the FS-FBS-TXC SAP Tax Classification and Reporting for FATCA component. Once configured, you can select the appropriate classification scenario from the list of available scenarios and apply it to your financial transactions. 
  
  Tips & Tricks: 
  It is important to note that the predefined classification scenarios are not exhaustive and may not cover all possible scenarios. If you need to classify a transaction that is not covered by the predefined scenarios, you can create a custom classification scenario. 
  
  Related Information: 
  For more information on configuring and using the FS-FBS-TXC SAP Tax Classification and Reporting for FATCA component, please refer to the official SAP documentation.