What is countervailing duty in SAP SLL - Global Trade Services?

SAP Term: countervailing duty

• Component: SLL

• Component Name: Global Trade Services

• Description: State measure for protecting domestic goods and products. Import tax levied on foreign goods and products to balance export subsidies. Countervailing duty is intended to make imports more ex pensive in the domestic market and to remove the competitive advantage over domestic goods and products from the outset.

Smart SAP Assistant

• Key Concepts: 
  Countervailing duty is a type of import duty imposed by a government to offset subsidies given to producers in another country. It is used to protect domestic industries from foreign competition. The SLL Global Trade Services component of SAP provides the tools necessary to manage countervailing duties and other import/export regulations. 
  
  How to use it: 
  The SLL Global Trade Services component of SAP allows users to manage countervailing duties and other import/export regulations. It provides tools for calculating, tracking, and reporting on countervailing duties. It also allows users to set up alerts for when countervailing duties are due or when changes in regulations occur. 
  
  Tips & Tricks: 
  It is important to stay up-to-date on changes in countervailing duty regulations as they can change quickly and without warning. The SLL Global Trade Services component of SAP can help users stay informed by providing alerts when changes occur. Additionally, it is important to ensure that all calculations are accurate as incorrect calculations can lead to costly penalties. 
  
  Related Information: 
  The SLL Global Trade Services component of SAP also provides tools for managing other import/export regulations such as antidumping duties, export controls, and customs compliance. Additionally, it provides tools for managing trade agreements such as free trade agreements and preferential trade agreements.