What is foreign territory in SAP SD-FT - Foreign Trade?

SAP Term: foreign territory

• Component: SD-FT

• Component Name: Foreign Trade

• Description: Areas that are not part of the sales volume fiscal territory. Foreign territory refers to sales tax regulations.

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• Key Concepts: 
  Foreign territory is a term used in SAP Foreign Trade (SD-FT) to refer to a country or region outside of the country in which the company is based. It is used to define the scope of foreign trade activities, such as export and import, and to determine the applicable taxes and regulations. 
  
  How to use it: 
  In SAP Foreign Trade, foreign territory is used to define the scope of foreign trade activities. This includes setting up export and import processes, determining applicable taxes and regulations, and managing foreign currency transactions. The foreign territory can be set up in the system by entering the relevant country or region codes. 
  
  Tips & Tricks: 
  When setting up foreign territory in SAP Foreign Trade, it is important to ensure that all relevant countries and regions are included. This will ensure that all applicable taxes and regulations are taken into account when conducting foreign trade activities. 
  
  Related Information: 
  For more information on setting up foreign territory in SAP Foreign Trade, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed instructions on how to set up foreign territory in SAP Foreign Trade.