08 Aug/17

Tax Translation Services – Accuracy and Confidentiality

Tax Translation Services - Accuracy and Confidentiality - EVS Translations
Tax Translation Services – Accuracy and Confidentiality – EVS Translations

Mistakes in tax translations are like the bad gift that keeps on giving: they can open up your company to penalties, liens, and audits in addition to rectifying the initial discrepancy. Aside from the translation quality itself, as we live in an age where stories of data theft and information leaks are an almost daily occurrence, secure and confidential usage of data has become of the utmost importance.

The question for the individual company is: when it comes to tax translation services, what is your translation provider doing to help your business?

Of the 1,000 or so languages that current estimates state are of global economic importance, even Google Translate only addresses about 100 of them, meaning that, even if your language can be translated, there is still a question regarding the accuracy of the translation. The hallmark of a bad translation is lack of context, machine translations and ineffective translators may understand what a word means literally, but, within the information being presented, that doesn’t mean that it is being correctly understood, which can lead to costly delays and miscommunication.

If valuable information is left out due to a poor tax translations, 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. Learn here: Why Tax Translations Should be Provided Only by an Expert.

Data is more important than ever before, and effectively controlling the flow and security of data is key. Regardless of how secure your company’s sensitive financial data is on your own data servers, releasing it to any outside company, even for translation, can be risky. For machine-based translation services, a company needs to consider a translation provider’s software security and data wiping practices. When looking at companies employing human translators, the issue becomes a question of how the individual translators have been trained to handle sensitive data.

Hopefully, this has given you some good reasons to look more closely at tax translation services providers and how they handle your information, but, even if this topic worries you, there is no need to panic. When looking for accurate translations, seek a company with well-trained, accredited human translators who are experienced with tax translation and have a proven track record. To maintain confidentiality of your tax/financial information, look for a translation provider that is willing to offer a non-disclosure agreement and takes the time to train translators in the proper handling of sensitive information.

For example, EVS Translations takes security a step further offering customized delivery systems and secure processes, backed up by a certified high-performance computer centre in Germany, on top of signing non-disclosure agreements with all clients and employees.

The international translation company with over 25 years experience, is specifically set up to complete complex, high-volume tax translations into multiple languages and all in-house teams of tax translators and proofreaders, situated in offices across Europe and USA, are acquainted with all applicable tax reporting and documentation guidelines and work with databases specifically created from the latest tax terminology lists.