Not possible to determine tax indicator in company code &1

What causes this issue?

Postings to the selected account require a tax code. On the basis of the
company code data (<AB>T001</>), the system attempts to determine a tax
code for zero tax. However, there is no such tax code stored for the
company code.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Specify the tax code for zero tax in the company code. You do this in
Customizing for <LS>Financial Accounting Global Settings</>, under
<DS:SIMG.SIMG_CFMENUORFBOBCL>Assign Tax Codes for Non-Taxable
Transactions</>.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.