What is taxable person in SAP LOD-LH-TAX - SAP Localization Hub, Tax Service?

SAP Term: taxable person

• Component: LOD-LH-TAX

• Component Name: SAP Localization Hub, Tax Service

• Description: Businesses, sole traders, or professionals that are registered with the tax authorities to carry out business activities. They are obliged to collect indirect tax and remit it to the tax authorities.

Smart SAP Assistant

• Key Concepts: 
  A taxable person is an individual or organization that is liable to pay taxes. In the context of SAP Localization Hub, Tax Service, a taxable person is an entity that is subject to taxation in a particular jurisdiction. This could include individuals, companies, or other organizations. 
  
  How to use it: 
  In SAP Localization Hub, Tax Service, a taxable person is used to identify the entity that is liable for taxation in a particular jurisdiction. This information is used to determine the applicable tax rates and other relevant information for the transaction. 
  
  Tips & Tricks: 
  When entering information about a taxable person in SAP Localization Hub, Tax Service, it is important to ensure that all relevant information is accurate and up-to-date. This will ensure that the correct tax rates and other information are applied to the transaction. 
  
  Related Information: 
  For more information about taxable persons in SAP Localization Hub, Tax Service, please refer to the official documentation available on the SAP website.