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Rimini Street Delivers Initial Global Tax, Legal and Regulatory Updates for 2017

ISO-certified updates ensure accurate deliverables for U.S., Canada and more than a dozen countries across Asia-Pacific, EMEA and Latin America

LAS VEGAS, January 17, 2017Rimini Street, Inc., the leading global independent provider of enterprise software support services for SAP SE’s (NYSE:SAP) Business Suite, BusinessObjects and HANA Database software and Oracle Corporation’s (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail, Oracle Agile PLM and Oracle ATG Web Commerce software, today announced delivery of the first set of global tax, legal and regulatory updates for the new year. The updates include the 2017-A update for PeopleSoft clients in the United States and Canada, which were delivered ahead of the vendor’s own scheduled delivery date for similar updates. Additionally, the Company delivered global updates affecting SAP and Oracle E-Business Suite clients with operations throughout the United States and Canada, as well as Australia, Brazil, Columbia, Hungary, Indonesia, Ireland, Japan, Mexico, Norway, Papua New Guinea, Romania, Singapore and the United Kingdom. Rimini Street provides accurate, high-quality deliverables and has issued more than 125,000 tax, legal and regulatory updates to clients to date using an innovative combination of a patent-pending tax, legal and regulatory technology, a proven methodology and ISO 9001-certified development processes.

Updates for the United States and Canada

In the United States and Canada, Rimini Street provided numerous year-end processing and reporting updates, including tax, reporting and filing changes required by the Internal Revenue Service and the Canada Revenue Agency, as well as federal, state, local and territory governments. At the U.S. federal government level, Rimini Street delivered updates related to IRS 1099 Forms and the Patient Protection and Affordable Care Act (PPACA). Rimini Street also delivered an individual update to address IRS Notice 1036, which included withholding table changes effective January 1, 2017.

At the state, local and territory government levels, Rimini Street’s updates contained various standard deductions, exemption amounts and tax rate changes for many states, including California, Indiana, Kentucky, Minnesota, New Jersey, New Mexico, New York, Oklahoma and Rhode Island. Minimum wage changes were also included for Alaska, Arizona, Colorado, Maine, Missouri and Washington. Additional Unemployment Insurance Taxable Wage Base changes were included for Alaska, Hawaii, Idaho, Minnesota, North Carolina, North Dakota, Oregon, Rhode Island, Utah and Vermont. Several state updates also included new Federal Unemployment Tax Act (FUTA) Credit Reduction rates. At the local level, dozens of tax updates were provided for municipalities in Indiana, Kentucky, Ohio, Oregon and Pennsylvania.

For clients in Canada, Rimini Street delivered year-end reporting changes, including support for T4, T4A, RL-1 and RL-2 slips and electronic filing.

Updates for Asia-Pacific, EMEA and Latin America

With tax, legal and regulatory delivery capabilities for nearly 200 countries, Rimini Street also recently provided many required updates to its clients who need tax, legal and regulatory support for Australia, Brazil, Columbia, Hungary, Indonesia, Ireland, Japan, Mexico, Norway, Papua New Guinea, Romania, Singapore and the United Kingdom.

The following updates have been delivered to clients:

  • For Australia, updates to the Protected Earnings Amount (PEA) and also taxation of working holiday makers and temporary foreign workers, effective January 1, 2017.
  • For Brazil, changes to the Electronic Manifest of Fiscal Documents (MDF-e).
  • For Columbia, updates to the 2017 Tax Value Unit (UVT).
  • For Hungary, updates to VAT invoice and the threshold for recapitulative statement reporting.
  • For Indonesia, changes to the minimum wage for the province of Jakarta, effective January 1, 2017.
  • For Ireland, changes include updates to tax rates and bands, the Universal Social Charge (USC) and PRSI rates and bands, as well as changes to Forms P35, P35L and P35LT, effective January 1, 2017.
  • For Japan, withholding slip reporting and 2017 withholding tax table updates.
  • For Mexico, changes to electronic payroll receipts and updates to XSD and Catalog of Complements. Also included updates related to the Daily Minimum Wage increase and required Anti-Money Laundering Law reporting regarding outsourcing.
  • For Norway, included the new VAT return form RF-0002 for 2017.
  • For Papua New Guinea, changes delivered were related to the Foreign Contractor Withholding Tax (FCWT) rate, implementation of the OECD Country-by-Country reporting standards and the increase to the taxable component of employer-provided housing benefits.
  • For Romania, included the reduction of the standard VAT rate for 2017.
  • For Singapore, changes to the technical specification for filings as required by the Inland Revenue Authority of Singapore (IRAS).
  • For the United Kingdom, updates to income tax rates and threshold annual budget increases, changes to form P60 for 2016-2017, the addition of National Insurance numbers with “KC” prefix, increase to the Company Car and Van Fuel Benefits, and Statutory Payments Annual Budget, effective April 6, 2017.

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 advanced technology and numerous government and private-sector sources to monitor, collect and verify tax, legal and regulatory changes. These sources include more than 3,000 government web sites and close to 3,400 information sources covering more than 26,000 localities in nearly 200 countries.

Rimini Street also participates in and is a member of 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, 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.

“For over a decade, hundreds of organizations have been able to get a head-start on compliance changes and updates associated with the New Year with the help of Rimini Street’s dedicated tax, legal and regulatory team, who leverage patent-pending research technology and ISO-certified development processes to provide comprehensive and accurate deliverables,” said Paul Henville, group vice president, Global Product Delivery, Rimini Street. “Rimini Street has now delivered more than 125,000 mission-critical tax, legal and regulatory updates to Oracle and SAP clients all around the world since 2005, and continues its commitment to helping clients comply with ever-changing tax, legal and regulatory requirements.”

To learn more, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, more than 3,500 Fortune 500, Fortune Global 100, midmarket, public sector and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the duration of and economic, operational and financial impacts on Rimini Street’s business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt Rimini Street’s business or that of its current and prospective clients, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; Rimini Street’s need and ability to raise additional equity or debt financing on favorable terms and Rimini Street’s ability to generate cash flows from operations to help fund increased investment in Rimini Street’s growth initiatives; the sufficiency of Rimini Street’s cash and cash equivalents to meet its liquidity requirements; the terms and impact of Rimini Street’s outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of Rimini Street’s recently introduced products and services, including its Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services Rimini Street expects to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those risks discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on August 5, 2020 and as updated from time to time by other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2020 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

Investor relations contact:

Dean Pohl

Rimini Street, Inc.

+1 925-523-7636 dpohl@riministreet.com
Media relations contact:

Michelle McGlocklin

Rimini Street, Inc.

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