What is non-resident taxpayer in SAP FS-PM - Policy Management?

SAP Term: non-resident taxpayer

• Component: FS-PM

• Component Name: Policy Management

• Description: Policyholder whose country of residence does not match the jurisdiction. This means that the insurance company cannot take the tax regulations for the country of residence of the taxable person into account, and cannot transfer the taxes and deductions to the local tax authority. However, the insurance company is under an obligation to provide detailed information about contract data, revenue and surpluses, and about the contract history.

Smart SAP Assistant

• Key Concepts: 
  A non-resident taxpayer is an individual or entity that does not have a permanent residence in the country where they are filing taxes. This term is used in the SAP FS-PM Policy Management component, which is a tool for managing tax policies and regulations. 
  
  How to use it: 
  The FS-PM Policy Management component allows users to set up and manage tax policies for non-resident taxpayers. This includes setting up rules for filing taxes, determining the applicable tax rates, and tracking payments. 
  
  Tips & Tricks: 
  When setting up tax policies for non-resident taxpayers, it is important to ensure that all applicable regulations are taken into account. Additionally, it is important to keep track of any changes in regulations that may affect the policies. 
  
  Related Information: 
  For more information on the FS-PM Policy Management component, please refer to the SAP Help Portal. Additionally, there are many resources available online that provide more detailed information on non-resident taxpayer regulations.