Rimini Street Delivers 2012 Year-End Global Tax, Legal and Regulatory Updates
Innovative Research Technology and ISO-Certified Processes Ensure Clients Receive Most Accurate, Timely Deliverables in the Industry
LAS VEGAS, December 3, 2012 - 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 set of 2012 global year-end tax, legal and regulatory updates, including the 2012-F update for PeopleSoft licensees, ahead of the vendor's own scheduled delivery date for similar updates. Rimini Street is delivering updates that include significant new tax, legal and regulatory requirements for the U.S., Canada, UK, Mexico, 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.
Extensive U.S. and Canadian Updates
In the U.S. and Canada, there are numerous year-end 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. federal level, Rimini Street updates include support for the year-end reporting requirements of the Affordable Care Act, which mandates that employers report the cost of coverage under an employer-sponsored group health plan. Updates have also been provided for the additional Medicare tax on high-wage earners and the expiration of the temporary two-percent reduction in the Old Age, Survivors and Disability Insurance (OASDI) tax rate. Rimini Street is closely monitoring negotiations in Congress regarding the "fiscal cliff" and possible additional tax increases set to take effect in January 2013. Any required updates will be provided to clients in a timely manner.
At the U.S. state and local government levels, Rimini Street updates contain minimum wage increases, as well as new Unemployment Insurance Taxable Wage Base figures, standard deductions, exemption amounts and withholding tax rate changes for many states, including Arizona, Florida, Montana, Ohio, Oregon, Vermont and Washington. Dozens of local tax updates are also provided for municipalities in Indiana, Kentucky, Ohio and Pennsylvania.
Rimini Street tax, legal, and regulatory updates for Canada include many provincial and territorial tax changes recently announced for Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nunavut, Ontario, Quebec, Saskatchewan and Yukon. In addition to January 1, 2013 increases to Canadian federal income thresholds and federal personal amounts, updates are also included for changes to the Canada Pension Plan (CPP), Quebec Pension Plan (QPP), Employment Insurance (EI), Quebec Employment Insurance, and Workers' Compensation Board (WCB) limits.
Major Global Updates
Rimini Street has tax, legal and regulatory delivery capabilities for nearly 200 countries and is providing critical global 2012 year-end updates as well as many required updates for 2013.
For example, in the UK, Rimini Street is rolling out significant Real Time Information (RTI) capabilities that are required in 2013 by Her Majesty's Revenue and Customs. In Mexico, Rimini Street will deliver adjustments to minimum wage geographic regions in December 2012 and income tax rate updates, effective January 2013. In Brazil, Rimini Street will ensure compliance with the Brazilian Internal Revenue Service's new public digital bookkeeping system requirements (SPED), and will deliver multiple updates to SPED Digital Tax Bookkeeping (EFD) in December 2012 and January 2013. Rimini Street is monitoring and working to deliver future SPED changes, including SPED Accounting (ECD), which will be effective July 2013.
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 for nearly 200 countries. Rimini Street also participates as a member in many prominent tax, legal and regulatory associations around the world, including the American and Canadian Payroll Associations. 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
"Rimini Street has delivered more than 40,000 critical tax, legal and regulatory updates to hundreds of global, Fortune 500, midmarket and public sector organizations around the world who rely on our proven solution to process billions of dollars in mission-critical transactions every month," said Paul Henville, group vice president, global development, Rimini Street. "Our experienced, ISO-certified global tax, legal and regulatory team remains committed to developing and delivering the most accurate and robust tax, legal and regulatory updates available from any single vendor in the market."
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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