What is EXTRASTAT declaration in SAP SD-FT - Foreign Trade?

SAP Term: EXTRASTAT declaration

• Component: SD-FT

• Component Name: Foreign Trade

• Description: A monthly customs declaration that provides EU authorities with statistics on trade between EU member states and non-EU countries, for example, trade between Germany and the US. There is an EXTRASTAT declaration for exports and one for imports.

Smart SAP Assistant

• Key Concepts: 
  EXTRASTAT declaration is a component of SAP Foreign Trade (SD-FT) that allows companies to declare their export and import activities to the customs authorities. It is used to provide information about the goods being exported or imported, such as the type of goods, quantity, value, and origin. This information is used by customs authorities to assess taxes and duties, as well as to monitor the movement of goods across borders.
  
  How to use it: 
  EXTRASTAT declaration can be used in SAP Foreign Trade (SD-FT) by entering the relevant information about the goods being exported or imported. This includes the type of goods, quantity, value, and origin. Once this information is entered, it can be submitted to the customs authorities for assessment and approval.
  
  Tips & Tricks: 
  When using EXTRASTAT declaration in SAP Foreign Trade (SD-FT), it is important to ensure that all information entered is accurate and up-to-date. This will help to ensure that the declaration is approved quickly and without any issues. Additionally, it is important to keep track of any changes in regulations or laws that may affect the declaration process.
  
  Related Information: 
  For more information on EXTRASTAT declaration in SAP Foreign Trade (SD-FT), please refer to the official SAP documentation at https://help.sap.com/viewer/product/SAP_FT/1502/en-US. Additionally, you can find more information on foreign trade regulations and laws at https://www.export.gov/article?id=Export-Regulations.