What is KVED code in SAP PY-UA - Ukraine?

SAP Term: KVED code

• Component: PY-UA

• Component Name: Ukraine

• Description: A code used in to classify what business activities a company is engaged in, according to the Classification of Economic Activities. The codes cover different types of business activities from all areas, where enterprises are classified as mining and quarrying 1, manufacturing 2, and services 3. The State Statistics Committee introduced the KVED classification in 2001, which is a more up-to-date system than the previous ZKGNG classification.

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• Key Concepts: 
  KVED code stands for the Ukrainian Classification of Economic Activities (KVED). It is a system of codes used to classify economic activities in Ukraine. The KVED code is used to identify the type of business activity a company is engaged in, and is used for taxation and reporting purposes. 
  
  How to use it: 
  In SAP, the KVED code is used in the PY-UA Ukraine component. This component is used to configure payroll for Ukraine. The KVED code is used to identify the type of business activity a company is engaged in, and is used for taxation and reporting purposes. 
  
  Tips & Tricks: 
  When configuring payroll for Ukraine, it is important to ensure that the correct KVED code is entered into the system. This will ensure that the correct taxes are calculated and reported correctly. 
  
  Related Information: 
  The KVED code can be found on the official website of the State Statistics Service of Ukraine (http://www.ukrstat.gov.ua/). It is also available on the official website of the Ministry of Finance of Ukraine (http://minfin.gov.ua/).