What is import turnover tax in SAP SLL - Global Trade Services?

SAP Term: import turnover tax

• Component: SLL

• Component Name: Global Trade Services

• Description: A tax levied for the import of foreign merchandise into a customs territory for which tariffs are due. This tax is incurred when goods are made available for domestic consumption or when customs duties are due.

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• Key Concepts: 
  Import turnover tax is a type of tax that is imposed on goods imported into a country. It is also known as customs duty or import duty. The amount of the tax depends on the type of goods being imported and the country of origin. In SAP, the SLL Global Trade Services component is used to manage import turnover tax. 
  
  How to use it: 
  The SLL Global Trade Services component in SAP allows users to manage import turnover tax. This includes calculating the amount of tax due, filing the necessary paperwork, and paying the taxes. It also provides tools for tracking and reporting on import turnover taxes. 
  
  Tips & Tricks: 
  When using the SLL Global Trade Services component in SAP, it is important to ensure that all paperwork is filed correctly and that all taxes are paid on time. This will help to avoid any penalties or fines that may be imposed by the government. Additionally, it is important to keep track of any changes in import turnover tax rates as these can affect the amount of taxes due. 
  
  Related Information: 
  For more information about import turnover tax and how to manage it in SAP, please refer to the official SAP documentation. Additionally, there are many online resources available that provide information about import turnover taxes and how to manage them in SAP.