International projects bring multiple financial and legal considerations. A sponsor might not be aware of tax codes or laws that impact payment of overhead, or may want to pay with non-U.S. currency, which can create a significant administrative burden for your project or department. The ICC has experience managing issues like these so that project negotiation and implementation can proceed smoothly.
The ICC can help you:
- Ask the right questions. Will sponsor funds be taxed upon leaving the country? What is the sponsor’s policy on overhead? Do they have policies on what costs are allowable?
- Analyze and get advice. MIT’s tax and legal specialists will review the specifics of your project and determine what laws or tax codes apply for that type of sponsor or that particular country. In some cases, MIT may hire an outside expert for further assistance.