What is Intrastat arrangement in SAP SRD-SRM-GLO-INT - COM-Intrastat/FTA?

SAP Term: Intrastat arrangement

• Component: SRD-SRM-GLO-INT

• Component Name: COM-Intrastat/FTA

• Description: A master data record that is used to store statistical and tax authority data as well as Intrastat declaration parameters in the system. An Intrastat arrangement is a prerequisite to create an Intrastat declaration for a given country of declaration and company.

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• Key Concepts: 
  Intrastat is an arrangement between the European Union (EU) member states to collect and exchange statistical information on the movement of goods within the EU. It is a system of collecting and exchanging statistical information on the movement of goods between EU member states. The Intrastat arrangement is managed by the European Commission and is based on the EU's Common Customs Tariff (CCT). 
  
  How to use it: 
  The Intrastat arrangement requires companies to report their intra-EU trade transactions to their national statistical office. This information is then used to calculate the value of goods traded between EU member states. Companies must also report any changes in their intra-EU trade transactions, such as changes in the value of goods traded or changes in the type of goods traded. 
  
  Tips & Tricks: 
  It is important to ensure that all Intrastat reports are accurate and up-to-date. Companies should also ensure that they are aware of any changes in the Intrastat regulations, as these can affect their reporting requirements. 
  
  Related Information: 
  The SAP component SRD-SRM-GLO-INT COM-Intrastat/FTA is used to manage Intrastat reporting. This component provides a range of features, including the ability to generate Intrastat reports, manage Intrastat data, and monitor changes in Intrastat regulations.