Line of Business
Definition
A business's chief area of operations (in Spanish, razón social).
Use
In Chile, small and midsize businesses – but not larger businesses – are required to specify their line of business on the withholding tax certificates that they issue (see
Withholding Tax Report). You can find out from the authorities whether you need to state your line of business and if so the wording that you must use.If you do need to state your line of business, you maintain it in your company code master data (see
Maintaining Your Line of Business).