What is ISS tax law in SAP LO - Logistics - General?

SAP Term: ISS tax law

• Component: LO

• Component Name: Logistics - General

• Description: A series of laws that detail what rates of ISS apply to different sales and purchases of services. They describe which transactions are subject to the full rate of ISS, which transactions are subject to a reduced rate, which are exempt from ISS, and whether ISS is charged by the service provider or withheld by the service recipient.

Smart SAP Assistant

• Key Concepts: 
  ISS tax law is a component of the SAP Logistics - General module. It is used to calculate taxes based on the International Sales and Services Tax (ISS) system. This system is used in many countries around the world, including Brazil, Mexico, and India. The ISS tax law component allows companies to accurately calculate taxes for their international sales and services transactions. 
  
  How to use it: 
  The ISS tax law component can be used to calculate taxes for international sales and services transactions. It can be accessed through the SAP Logistics - General module. Once accessed, users can enter the relevant information such as the country of origin, destination, and type of transaction. The system will then calculate the applicable taxes based on the ISS system. 
  
  Tips & Tricks: 
  When using the ISS tax law component, it is important to ensure that all relevant information is entered accurately. This will ensure that the correct taxes are calculated and that any potential errors are avoided. Additionally, it is important to keep up-to-date with any changes in the ISS system as this could affect the accuracy of the calculations. 
  
  Related Information: 
  For more information on the ISS tax law component, please refer to SAP’s official documentation on the topic. Additionally, there are many online resources available which provide further information on how to use this component effectively.