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Rimini Street Delivers Initial Global Tax, Legal and Regulatory Updates for 2013
Clients Receive Update for New U.S. "Fiscal Cliff" Legislation One Day after President Signs into Law
LAS VEGAS, January 14, 2013 - Rimini Street, Inc., the leading third-party maintenance and support provider for enterprise software, including SAP AG (NYSE:SAP) software and Oracle Corporation's (NASDAQ: ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database and Hyperion software, today announced delivery of its first global tax, legal and regulatory updates for the new year, including the 2013-A update for PeopleSoft licensees as well as updates affecting SAP and JD Edwards licensees for North America payroll, ahead of the vendor's own scheduled delivery date for similar updates. Additionally, Rimini Street delivered an individual tax and regulatory update to address the "fiscal cliff" legislation one day after it was signed into law by President Obama on January 3.
Rimini Street's global updates included significant new tax, legal and regulatory requirements for the U.S., Canada, UK, Brazil and other geographies. Through an innovative combination of patent-pending tax, legal and regulatory research technology, methodology and ISO-certified quality processes, Rimini Street ensures clients receive the most accurate deliverables with the fastest "legislature-to-live"SM update delivery cycle in the industry.
U.S. "Fiscal Cliff" Tax & Regulatory Updates Delivered to Clients in One Day
Known officially as the "American Taxpayer Relief Act of 2012," the recent "fiscal cliff" legislation approved by Congress on New Year's Day and signed by the President the following day, contains more than 150 pages of legislation, with numerous impacts to payroll processing. Rimini Street delivered an individual tax and regulatory update to all impacted clients on January 4, one day after the Internal Revenue Service (IRS) posted Notice 1036 which revised tax requirements corresponding to the new legislation. The fast delivery of the new tax and regulatory updates allowed Rimini Street clients to implement the new IRS requirements well before the February 15 deadline.
U.S. and Canadian Updates
In the U.S. and Canada, there were numerous year-end processing and reporting updates including tax, reporting and filing changes required by the Internal Revenue Service, the Canadian Revenue Agency, and state, provincial and local governments.
At the U.S. state, local and territory government levels, Rimini Street updates contained minimum wage increases, Unemployment Insurance Taxable Wage Base figures, standard deductions, exemption amounts and withholding tax rate changes for many states, including California, Colorado, Hawaii, Minnesota, Missouri, North Dakota, Nebraska, New York and Pennsylvania. Dozens of local tax updates were also provided for municipalities in Kentucky, Maryland, Ohio, Oregon and Pennsylvania, as well as the U.S. territory Puerto Rico. Rimini Street tax, legal, and regulatory updates for Canada included several territorial tax changes recently announced for Yukon.
With tax, legal and regulatory delivery capabilities for nearly 200 countries, Rimini Street recently provided many required tax, legal and regulatory updates for 2013 to its global clients.
For example in the UK, Rimini Street continued to roll out Real Time Information (RTI) capabilities for 2013 as required by Her Majesty's Revenue and Customs. UK clients also will receive year-end and start of year tax, legal and regulatory updates. In Brazil, Rimini Street will deliver multiple updates to keep clients compliant with the Brazilian Internal Revenue Service's new public digital bookkeeping systems requirements (SPED EFD).
Industry-Leading Tax, Legal & Regulatory Research and Technology
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.
Proven and Reliable Global Delivery
"Hundreds of companies around the world rely on Rimini Street's ISO-certified tax, legal and regulatory solution to process billions of dollars in mission-critical transactions every month," said Paul Henville, Rimini Street group vice president, global development. "With the proven experience of delivering more than 45,000 critical tax, legal and regulatory updates to global, Fortune 500, midmarket and public sector organizations worldwide, Rimini Street's veteran global tax, legal and regulatory team is committed to developing and providing the most accurate, robust and timely tax, legal and regulatory updates available."
About Rimini Street, Inc.
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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