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LAS VEGAS - January 11, 2016 - Rimini Street, Inc., the leading independent provider of enterprise software support services for SAP SE's (NYSE:SAP) Business Suite and BusinessObjects software and Oracle Corporation's (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail and Oracle Agile PLM software, today announced delivery of its first set of global tax, legal and regulatory updates for the new year, including the 2016-A update for PeopleSoft clients in the United States and Canada, as well as global updates affecting SAP, Oracle E-Business Suite and JD Edwards clients with operations throughout Asia-Pacific, EMEA and Latin America. The significant PeopleSoft American payroll update 2016-A was delivered ahead of the vendor’s own scheduled delivery date for similar updates by applying Rimini Street’s patent-pending tax, legal and regulatory research technology, proven methodology and ISO 9001-certified development processes.
In the United States and Canada, Rimini Street provided numerous year-end processing and reporting updates, including tax, reporting and filing changes required by the Internal Revenue Service and the Canadian Revenue Agency, as well as federal, state, local and territory governments
At the U.S. federal government level, Rimini Street delivered updates related to IRS 1099 Forms and the Patient Protection and Affordable Care Act (PPACA). Rimini Street also delivered an earlier individual update to address IRS Notice 1036, which included withholding table changes effective January 1, 2016.
For clients in the U.S. state, local and territory government levels, Rimini Street’s updates contained various standard deductions, exemption amounts and tax rate changes for many states including Alaska, California, Hawaii, Kentucky, Maine, Minnesota, New Mexico, New York, North Carolina and Rhode Island. Additional Unemployment Insurance Taxable Wage Base changes were included for Alaska, Idaho, New Mexico, North Carolina, North Dakota, Oregon, Pennsylvania, Rhode Island and Utah. Several state updates also included new Federal Unemployment Tax Act (FUTA) Credit Reduction rates. At the local level, dozens of tax updates were provided for municipalities in Indiana, Kentucky, New York, Ohio, Oregon and Pennsylvania.
For clients in Canada, Rimini Street delivered year-end reporting changes, including support for T4, T4A, RL-1 and RL-2 slips and electronic filing.
With tax, legal and regulatory delivery capabilities for nearly 200 countries, Rimini Street recently provided many required updates to its global clients, including those in Australia, Brazil, the Czech Republic, India, Indonesia, Malaysia, Mexico, Peru, Singapore, Spain and the United Kingdom.
For example, in Australia, Rimini Street updates contained changes to Protected Earnings Amounts (PEA) and pay-as-you-go (PAYG) installments for larger businesses, as required by the Australian Taxation Office. In Brazil, Rimini Street delivered numerous changes to support PIS/Cofins, NT 2015.003 Portal da Nota Fiscal Electronic and SPED (Public System of Digital Accounting). The update in the Czech Republic included the new VAT control statement required by the Czech tax authority. In India, Rimini Street updates included changes to form 24Q for Q4, the quarterly income tax deduction statement. For Indonesia, Rimini Street delivered updates in support of the country’s new minimum wage formula as well as the list of national holidays announced by the government for 2016. In Malaysia, Rimini Street provided updates related to the country’s income tax rate changes. For Mexico, updates included daily minimum wage, payroll tax rate and income tax law changes. Rimini Street’s updates in Peru included new web-based electronic forms for calculating withholdings and percentages of general sales tax (IGV). In Singapore, the updates contained changes in Central Provident Fund (CPF) contribution rates and salary ceiling. For Spain, Rimini Street delivered updates to the new Modelo 390, the tax form used to declare annual VAT return. In the United Kingdom, Rimini Street delivered numerous updates related to Scottish income tax changes, the abolition of employer National Insurance Contributions (NICs) for apprentices under the age of 25 and changes to statutory payments, income tax rate and threshold annual budgets, National Insurance threshold and limits, and Student Loan thresholds.
Rimini Street’s tax, legal and regulatory strategy and scoping team is made up of veteran tax specialists, attorneys and international tax, legal and regulatory professionals who use advanced technology and numerous government and private-sector sources to monitor, collect and verify tax, legal and regulatory changes. These sources include more than 2,500 government web sites and close to 3,300 information sources covering more than 26,000 localities in nearly 200 countries.
Rimini Street also participates as a member in many prominent tax, legal and regulatory associations around the world, including the American, Canadian, United Kingdom and Australian Payroll Associations, the American Bar Association Section of Taxation, the Financial Executives International Association, The Tax Council and the Tax Executives Institute. The innovative combination of technology, a proven methodology and ISO 9001 quality processes consistently assures the fastest “legislature-to-live”SM update delivery cycle and highest quality deliverables in the industry.
“The new year always brings with it many significant tax updates affecting our Oracle and SAP clients around the world, so it is vital that organizations receive critical tax, legal and regulatory updates in a timely manner,” said Paul Henville, group vice president, Global Product Delivery, Rimini Street. “We have delivered more than 105,000 updates to our clients over a decade – consistently ahead of the vendor’s own planned delivery date – through our patent-pending research technology, proven methodology and ISO-certified development processes. We will continue to invest and build up our tax, legal and regulatory practice in order to ensure clients remain compliant with the most recent tax, legal and regulatory updates worldwide.”
Rimini Street is the global leader in providing independent enterprise software support services. The company has redefined enterprise support services since 2005 with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for at least 15 years. Over 1,150 global, Fortune 500, midmarket, and public sector organizations from a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com.
This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, and are based on various assumptions. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Rimini Street assumes no obligation to update any forward-looking statements or information, which speak only as of the date of this press release.
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