Spring 2012 issue of Horizons

Alternatively, if title of the product transfers to the foreign customer before entering the foreign country, this customer then becomes responsible for importation and the related costs. While the list of issues that you may encounter expanding overseas may be extensive, with a little planning, it can be manageable. With the expansion of the global economy, U.S. businesses should be informed so that they can position themselves for the best outcome.

The customs are assessed based upon the type of goods, and the rates vary by country. Generally, the customs are assessed on the owner of the goods when they enter the country. When a U.S. manufacturer is considering selling to a foreign customer, it must be determined which party will own the property when it crosses into a foreign country. If the U.S. manufacturer retains ownership, it may have to retain the services of a third party in the foreign country to assist with importing the product, clearing customs and filing the appropriate returns in the foreign jurisdiction.

RubinBrown’s Manufacturing & Distribution Services Group RubinBrown’s Manufacturing & Distribution Services Group is nationally recognized for superior assurance, tax and consulting expertise coupled with solid international business knowledge, exceptional inventory management and process improvement services.

Jim Mather, CPA - St. Louis Partner-In-Charge Manufacturing & Distribution Services Group jim.mather@rubinbrown.com 314.290.3470

Rick Feldt, CPA - St. Louis Partner Manufacturing & Distribution Services Group rick.feldt@rubinbrown.com 314.290.3220

Mike Lewis, CPA - St. Louis Partner Manufacturing & Distribution Services Group mike.lewis@rubinbrown.com 314.290.3391

Todd Pleimann, CPA - Kansas City Partner Manufacturing & Distribution Services Group Managing Partner, Kansas City Office todd.pleimann@rubinbrown.com 913.499.4411

Russ White, CPA - Denver Partner Manufacturing & Distribution Services Group russ.white@rubinbrown.com 303.952.1247

Kirk Wonio, CPA - St. Louis Manager Manufacturing & Distribution Services Group kirk.wonio@rubinbrown.com 314.290.3335

www.rubinbrown.com

50