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LAS VEGAS, December 1, 2014 - Rimini Street, Inc., the leading independent provider of enterprise software support for SAP AG'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 and Oracle Retail software, today announced delivery of its first-set of 2014 year-end tax, legal and regulatory updates for the U.S. and Canada, as well as global updates for many countries. Rimini Street's updates include the 2014-F update for PeopleSoft clients, which were delivered ahead of the vendor's own scheduled delivery date for similar updates, as well as updates for JD Edwards, PeopleSoft, Oracle EBS and SAP releases, as needed. The updates provide clients with significant new tax, legal and regulatory changes required for the U.S., Canada, the Czech Republic, Iceland, Malaysia, Mexico, Portugal and Slovakia. Rimini Street offers clients accurate deliverables with the industry's fastest "legislature-to-live"SM update delivery cycle through an innovative combination of patent-pending tax, legal and regulatory research technology, proven methodology and ISO 9001-certified development processes.
In the U.S. and Canada, there were numerous year-end tax, reporting and filing changes required by the Internal Revenue Service and the Canadian Revenue Agency, as well as state, provincial and local governments, many of which are effective January 1, 2015.
For clients in the U.S., Rimini Street delivered tax, legal, and regulatory updates at the federal, state and local levels. At the U.S. federal government level, Rimini Street updates included increases in the Social Security wage base and adjustments for the Federal Unemployment Tax Act (FUTA) for states that repaid Federal Unemployment Trust loans. The updates also included reporting changes for IRS Forms W-2 (Wage and Tax Statement) and W-3 (Transmittal of Wage and Tax Statements) and for the Vietnam Era Veterans Readjustment Assistance Act (VEVRAA), as well as changes related to the Patient Protection and Affordable Care Act (PPACA).
At the state and local government levels, Rimini Street delivered updates to Unemployment Insurance (UI) Taxable Wage Base figures for dozens of states, as well as minimum wage increases for Arizona, Florida, Montana, New Jersey, Ohio, Oregon and Washington. In addition, Rimini Street provided electronic filing options for Florida quarterly UI wage reporting and local tax updates for municipalities in Indiana and Ohio, and delivered its Pennsylvania Act 32 Guide.
For clients in Canada, Rimini Street provided many recently announced provincial and territorial tax changes. In addition to changes to Canadian federal income thresholds and federal personal amounts effective January 1, 2015, the updates also included changes to the Canada Pension Plan (CPP), Québec Pension Plan (QPP), Employment Insurance (EI), Québec Employment Insurance and Workers’ Compensation Board (WCB) limits.
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 the Czech Republic, Iceland, Malaysia, Mexico, Portugal and Slovakia.
For example, in the Czech Republic, Iceland, Portugal and Slovakia, Rimini Street delivered documentation regarding configuration changes for the VAT rate update as of Janaury 1, 2015. Portugal updates included multiple changes to VAT rates for the regions of Madeira and Azores. In Malaysia, Rimini Street’s updates included changes related to Malaysian Goods and Services Tax (GST). Rimini Street is also preparing to deliver additional updates related to upcoming GST changes by April 2015. Updates in Mexico included support for the new Mexican Tax Administration Service (SAT) electronic accounting requirements for trial balances, journal entries and chart of accounts.
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 2,000 government web sites and 3,100 information sources for 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 and Australian Payroll Associations, the American Bar Association Section of Taxation and the Tax Executives Institute. The innovative combination of technology, 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.
“Rimini Street has already delivered thousands of tax, legal and regulatory updates, across multiple regions and countries, to help our clients as they prepare for year-end processing and compliance. Many countries have different end-of-year compliance dates, and Rimini Street works with each of its clients around the world to assure they timely meet all statutory compliance requirements,” said Paul Henville, Rimini Street Group VP of Global Product Delivery. “With more than 80,000 global tax, legal and regulatory updates delivered to date, Rimini Street is trusted, proven supplier of robust and comprehensive tax, legal and regulatory updates to hundreds of clients around the world.”
Rimini Street is the leading independent provider of enterprise software support services. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs over a decade, including saving 50 percent on their annual support fees. Clients can remain on their current software release without any required upgrades or migrations for at least 15 years after switching to Rimini Street. Hundreds of clients, including global, Fortune 500, midmarket, and public sector organizations from across a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit www.riministreet.com or call within the USA 888-870-9692 or internationally +1 702-839-9671.
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