What is OKVED code in SAP LO - Logistics - General?

SAP Term: OKVED code

• Component: LO

• Component Name: Logistics - General

• Description: A code used in Russia to classify what business activities a company is engaged in, according to the All-Russian Classification of Economic Activities. The codes cover different types of business activities from all areas, such as industry, agriculture, and education. The OKVED code is used for preparing economic statistics.

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• Key Concepts: 
  OKVED code stands for the Russian Classification of Economic Activities. It is a system of classifying economic activities used by the Russian government to classify businesses and organizations. It is used to identify the type of activity a business or organization is engaged in, and is used for taxation and other regulatory purposes. 
  
  How to use it: 
  In SAP, the OKVED code is used in the LO Logistics - General component. This component is used to manage the logistics processes of a business, such as inventory management, order processing, and shipping. The OKVED code is used to identify the type of activity a business or organization is engaged in, and can be used to determine which taxes and regulations apply to that business or organization. 
  
  Tips & Tricks: 
  When entering an OKVED code into SAP, it is important to make sure that the code is accurate and up-to-date. This will ensure that the correct taxes and regulations are applied to the business or organization. 
  
  Related Information: 
  The OKVED code system is managed by the Federal State Statistics Service (Rosstat). For more information about the OKVED code system, please visit their website at http://www.gks.ru/wps/wcm/connect/rosstat_main/rosstat/ru/statistics/classification/.