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LAS VEGAS, August 12, 2013 — Rimini Street, Inc., the leading third-party maintenance and support provider for enterprise software, including 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 and Hyperion software, today announced delivery of its latest global tax, legal and regulatory updates. Rimini Street’s updates include the 2013-D update for PeopleSoft licensees and updates for SAP, EBS and JD Edwards licensees, as required, ahead of the vendors’ own scheduled delivery date for similar updates. The updates provide clients with significant new tax, legal and regulatory changes required for the U.S., Canada, UK, Brazil, Australia and Japan. Through an innovative combination of patent-pending tax, legal and regulatory research technology, methodology and ISO 9001-certified development processes, Rimini Street ensures clients receive the most accurate deliverables with the fastest “legislature-to-live”SM update delivery cycle in the industry.
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 delivered updates to assist with upcoming provisions of the Patient Protection and Affordable Care Act, including a new special accumulator for tracking work hours. By 2015, large employers with 50 or more full-time employees will be required to provide "minimum essential" health care coverage to full-time employees, or pay an annual salary penalty. The updates will subsequently deliver a new report that will use this special accumulator to identify full-time employees -- those that work in excess of 30 hours per week -- and are not currently covered with the employer's health insurance. Updates at the federal level also includes improved reporting for the Additional Medicare Tax on employees wages and other compensations over certain threshholds.
At the state level, updates were delivered for state withholding tables, taxable gross definitions and Federal Unemployment Tax Act (FUTA) tax changes for several states, including Florida, Minnesota and North Dakota. Rimini Street also delivered new garnishment rules for Alabama, effective October 1, 2013, as well as quarterly wage report updates for California, Illinois, and Pennsylvania to bring them into compliance with the latest electronic filing requirements. Numerous local tax updates were also provided for municipalities in Kentucky, Ohio and Pennsylvania.
For clients in Canada, Rimini Street delivered tax changes for the province of New Brunswick, including the Tax Credit Rate (K1P), and the Workers Compensation Board (WCB) Annual Limit. Additional changes also were delivered to support the new Quebec Health Contribution requirements.
With tax, legal and regulatory delivery capabilities for nearly 200 countries, Rimini Street recently provided many required tax, legal and regulatory updates to its global clients, including those in the UK, Australia, Brazil and Japan.
For example, in the UK, Rimini Street delivered additional updates for Real Time Information (RTI) capabilities as required by Her Majesty’s Revenue and Customs. In Brazil, Rimini Street is delivering updates related to Central Bank Circular 3656. In Australia, Rimini Street delivered numerous end-of-year updates, which includes tax and Superannuation rate changes plus changes to limits and thresholds.
The Company also continued to deliver regular updates to Value Added Tax (VAT), Consumption Tax and many other general rulings that could impact client business processes. For example, in Japan, Rimini Street instructed clients about a Consumption Tax change, effective October 2013, which exempts companies from adding tax into product prices, and also already delivered the Japanese Consumption Tax changes effective in 2014 and 2015.
Rimini Street will continue to track and deliver many other potential tax, legal and regulatory updates needed by its clients for the upcoming year-end.
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 patent-pending technology and numerous government and private-sector sources to monitor, collect and verify tax, legal and regulatory changes. These sources include more than seven thousand government web sites and information resources for 24,000+ 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.
“With more than 55,000 tax, legal and regulatory updates delivered since 2005, ahead of the vendors’ own scheduled delivery date, Rimini Street has helped hundreds of clients around the world, from Fortune 500, to global, midmarket and public sector organizations, continue to run mission-critical operations and successfully process billions of dollars in transactions every month,” said Paul Henville, Rimini Street group vice president, global development. “Our dedicated team of tax, legal and regulatory experts, ISO-certified processes and patent-pending research technology and methodology, combine to make Rimini Street’s tax, legal and regulatory updates the most timely, reliable, proven and comprehensive in the industry.”
Rimini Street is the leading third-party 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 annual support fees. Clients can remain on their current software release without any required upgrades or migrations for at least 10 years. Hundreds of global, Fortune 500, midmarket, and public sector organizations from virtually all 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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