What is restitution in SAP SD-FT - Foreign Trade?

SAP Term: restitution

• Component: SD-FT

• Component Name: Foreign Trade

• Description: A subsidy paid by the European Community EC to European traders exporting market-regulated goods to a country outside the EC to enable export of goods at a competitive price.

Smart SAP Assistant

• Key Concepts: 
  Restitution is a process in SAP Foreign Trade (SD-FT) that allows companies to reclaim duties and taxes paid on imported goods. It is used when goods are exported or destroyed, and the company can prove that the duties and taxes were paid in full. 
  
  How to use it: 
  In SAP Foreign Trade, restitution is initiated by creating a Restitution Request document. This document contains information about the goods, such as the quantity, value, and type of duty or tax paid. The request is then sent to the customs office for approval. Once approved, the company can reclaim the duties and taxes paid on the goods. 
  
  Tips & Tricks: 
  It is important to keep accurate records of all duties and taxes paid on imported goods in order to successfully reclaim them through restitution. Additionally, it is important to ensure that all documents related to the restitution request are complete and accurate before submitting them to the customs office. 
  
  Related Information: 
  For more information on restitution in SAP Foreign Trade, please refer to the SAP Help Portal: https://help.sap.com/viewer/product/SAP_ERP_SD_FT/6.0/en-US