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LAS VEGAS - November 10, 2015 - 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 PeopleSoft 2015 year-end tax, legal and regulatory updates, 2015-E for the US and Canada, as well as global updates for many countries. The updates were 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. SAP, JD Edwards and Oracle E-Business Suite clients, as well as clients with operations in more than a dozen countries across Asia-Pacific, EMEA and Latin America received significant new tax, legal and regulatory changes from Rimini Street that were required to ensure compliance with the growing number of legislative changes around the world.
In the United States and Canada, Rimini Street provided 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 become effective January 1, 2016. At the U.S. federal government level, Rimini Street updates included additional support for the Patient Protection and Affordable Care Act (PPACA). Tax form definition and year-end reporting changes were also included.
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 Arkansas, Connecticut, Hawaii, Michigan, New York, Rhode Island and South Dakota. Rimini Street also provided garnishment rules and quarterly electronic filing changes for several states, and local tax updates for municipalities in California, Indiana, Kentucky, Ohio, Pennsylvania and West Virginia.
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, 2016, the updates also included changes for the Canada Pension Plan (CPP), Record of Employment (ROE), Québec Parental Insurance Plan (QPIP), Employment Insurance (EI), 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 Austria, Brazil, China, the Czech Republic, Hong Kong, India, Italy, Japan, Norway, Romania, Ukraine and the United Kingdom.
For example, Rimini Street updates contained changes to VAT rates for Austria, Romania and the Ukraine, effective January 2016, and proposed changes to VAT rates for Italy are being monitored. In Brazil, Rimini Street delivered multiple updates to clients to support 2016 SPED (Public System of Digital Accounting) adjustments to Block K and Nota Fiscal Electronic requirements. The update in China included notification of various changes to minimum wage rates and contribution rates. In the Czech Republic, updates included the new VAT control statement, effective January 2016. For Hong Kong, Rimini Street updates included minimum wages and child allowance changes. The update for India included changes to form 24Q, the quarterly income tax deduction statement, as well as updates to Labour Welfare Fund Contribution rates. For Japan, Rimini Street provided multiple updates to support the implementation of My Number and Corporate Number. In Norway, notification of the new Norwegian Accounting Standard (NRS) release effective January 2016 was included. In the United Kingdom, Rimini Street delivered several updates, including changes to Student Loan thresholds and P60 forms effective April 2016, as well as updates to Voluntary Payroll Benefits and the Transferrable Allowance Calculation.
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.
“As payroll teams navigate year-end complexities and updates in order to successfully close out 2015 and prepare for 2016, Rimini Street’s dedicated team of tax, legal and regulatory professionals continue to be on point to deliver the most robust, comprehensive and accurate deliverables to our family of Oracle and SAP clients around the world,” said Paul Henville, group vice president, Global Product Delivery, Rimini Street. “Our clients rely on us to help them successfully complete billions of dollars in mission-critical transactions every month, and they can rest assured knowing that Rimini Street has delivered over 100,000 global tax, legal and regulatory updates to clients since 2005 using our patent-pending research technology, a proven methodology and ISO-certified development processes.”
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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