What is 'taxable person' in SAP SBO - SAP Business One?

taxable person - Overview

• Component: SBO

• Component Name: SAP Business One

• Description: A person or company obligated to pay tax.

taxable person - Details

• 
  Key Concepts: 
  A taxable person is an individual or organization that is liable to pay taxes. In the context of SAP Business One (SBO), a taxable person is a customer or vendor who is registered for taxation purposes. This means that they are required to pay taxes on their transactions with the company. 
  
  How to use it: 
  In order to use the taxable person feature in SBO, you must first register the customer or vendor as a taxable person. This can be done by entering their tax registration number in the relevant field in the customer or vendor master data. Once this is done, SBO will automatically calculate the applicable taxes for each transaction with that customer or vendor. 
  
  Tips & Tricks: 
  It is important to ensure that all customers and vendors who are liable for taxes are registered as taxable persons in SBO. This will ensure that all applicable taxes are correctly calculated and paid. 
  
  Related Information: 
  For more information on how to register customers and vendors as taxable persons in SBO, please refer to the SAP Business One Help Center.