An increasing number of companies are opening to the outside world and showing their international presence. As a result, high-quality translations are now essential in the field of economics and finance. In addition to compliance documents and annual reports, tax reports also need to be translated. If a lively discussion is taking place with business partners abroad, an interpreter may also be needed. Without external and specialised support, tax advisors and auditors, for instance, would hardly be able to handle these tasks.
The financial consequences of errors
Quality and multilingualism
Under no circumstances should quality be compromised in business translations. If a translation has been done carelessly or contains any errors, this will lead to an extremely unpleasant experience for business partners. They may even feel disrespected, which could, in the worst case, result in the termination of collaboration. Depending on the document that needs to be translated, errors can also lead to financial consequences.
It is important to contact a multilingual provider for tax translations to avoid these outcomes. Translators need to have detailed specialised knowledge, particularly when translating tax documents and economic issues. Language skills and a mastery of style are other factors that cannot be neglected. This is particularly the case if tax advisors or auditors are expanding their reach to be publicly perceived as experts or if they want to publish an article in a specialised magazine.
What to look out for in tax translations
Customers dealing with tax translations must be sure that the information contained in these translations is precise and reliable. Therefore, translators and interpreters have to be capable of reliably using specialised terminology. Even if the task involves internal documentation not intended for public release, it is advisable to send it to an expert if it has to be translated.
If a specialised text is easily readable, it will help all those involved. Time is money – and financial experts in particular are aware of this.
Paying attention to country-specific particularities
If a tax translation lacks readability, this will have a negative impact on trust. This may be the case even when all figures, dates and facts are correct.
If valuable information is left out due to a poor translation, this may lead to financial losses. Of course, legal aspects must also equally be taken into account. Depending on the country, individual laws relating to tax and finance apply – which translators need to know.
EVS Translations is the right point of contact for tax advisors and auditors. With more than 25 years of professional experience, we can look back at many years of practical work. Our company offers a comprehensive service from offices located in various countries.