What is restitution in SAP SLL - Global Trade Services?

SAP Term: restitution

• Component: SLL

• Component Name: Global Trade Services

• 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 feature of SAP SLL Global Trade Services that allows companies to reclaim duties and taxes paid on imported goods. It is a process of recovering the amount of money paid for duties and taxes on imported goods that were not used or consumed in the country of import. 
  
  How to use it: 
  In order to use restitution, companies must first register with the customs authority in the country of import. Once registered, companies can submit a restitution claim to the customs authority. The claim must include all relevant information about the imported goods, such as the date of import, the value of the goods, and any applicable duties and taxes paid. The customs authority will then review the claim and determine whether restitution is applicable. 
  
  Tips & Tricks: 
  It is important to keep accurate records of all imported goods in order to ensure that restitution claims are accurate and complete. Additionally, it is important to be aware of any applicable laws or regulations in the country of import that may affect restitution claims. 
  
  Related Information: 
  For more information about restitution and other features of SAP SLL Global Trade Services, please visit the SAP website at https://www.sap.com/products/global-trade-services.html.