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09 Nov 2009
Thompson Reuters the information company and British translation specialist RWS Group have joined forces to launch a tax documents translation service, designed to help companies avoid hefty fines from misunderstandings.
It has been designed to help multinational companies avoid incorrect tax payments to goods sold between two legal jurisdictions, known as transfer pricing the Daily Telegraph reported.
Companies that use the new service will be able to translate tax documents into local languages when needed to ensure transfer pricing errors do not creep into the paperwork.
DSG, the parent company of PC World, was earlier this year fined £52.7m by HM Revenue & Customs over transfer pricing discrepancies.
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