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Rimini Street Issues Next Set of 2016 Global Tax, Legal and Regulatory Updates

Rigorous ISO-certified processes and methodology ensure superior quality, accuracy of deliverables; Recipients include clients in North America, Asia-Pacific, Europe and Latin America

LAS VEGAS, April 11, 2016Rimini Street, Inc., the leading global 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, today announced that it has issued the next set of global tax, legal and regulatory updates for 2016. The updates include the 2016-B 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, as well as global updates affecting SAP and Oracle E-Business Suite clients with operations throughout Asia-Pacific, Europe and Latin America. Rimini Street offers clients accurate deliverables through an innovative combination of a patent-pending tax, legal and regulatory technology, proven methodology and ISO 9001-certified development processes.

Updates for the United States and Canada

In the United States and Canada, Rimini Street updates included numerous tax, legal and regulatory changes required by the Internal Revenue Service and the Canadian Revenue Agency, as well as various state, local and governmental agencies.

For clients in the United States, Rimini Street delivered tax, legal and regulatory updates at the federal, state and local levels. At the U.S. federal level, additional updates were delivered in support of the Patient Protection and Affordable Care Act (PPACA), as well as numerous changes for IRS 1042-S reporting. At the state government level, Rimini Street provided updates for withholding tables, minimum wage rates, allowance amounts, unemployment insurance wage base limits and garnishment rules for numerous tax jurisdictions across the country. At the local government levels, Rimini Street provided dozens of updates for municipalities in Kentucky, Maryland, Ohio, Oregon, Pennsylvania and West Virginia.

For clients in Canada, Rimini Street delivered Record of Employment (ROE) changes, as well as provincial tax table updates for New Brunswick.

Global Updates throughout Asia-Pacific, EMEA and Latin America

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 Chile, India, Malaysia, Mexico, New Zealand, Singapore, the United Kingdom and Uruguay.

The following updates have been delivered to clients:

  • In Chile, the change in requirement to obtain Tax Treaty benefits, as issued by Chile’s Internal Revenue Service (IRS)
  • New electronic tax payment requirements for India, including changes to the ceiling on Tax Rebates under Section 87A, changes in surcharge rates and updates to deductions related to Home Loan Interest and rent paid
  • For Malaysia, several updates, including changes to income tax relief for individual tax payers, the reduction of Malaysia’s Employee Provident Fund contributions, changes to the CP39 Schedular Tax Deduction form, as well as form layout changes for CP8E, as defined by the Inland Revenue Board (IRB) of Malaysia
  • In Mexico, information regarding the latest changes to the social security electronic form for Single System of Self-Determination (SUA), version 3.4.6
  • Several updates for New Zealand effective April 1st, including minimum wage and paid parental leave increases, changes to Accident Compensation Corporation (ACC) levy rates and the extension of parental leave payment to more employees
  • In Singapore, updates to satisfy new itemized pay slip requirements
  • In the UK, several updates effective April 6th, including National Insurance (NI) threshold and limit changes, Real Time Information (RTI) changes, Student Loan annual threshold updates, Scottish income tax changes and company car CO2 emissions updates, as well as income tax rate and threshold annual budget changes
  • In Uruguay, an update that details a new requirement by the federal government to report professional fees electronically

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 2,600 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, 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 over 110,000 updates delivered to date, Rimini Street has a long, successful history and proven track record of providing mission-critical tax, legal and regulatory updates to our Oracle and SAP clients in every major region of the world,” said Paul Henville, group vice president, Global Product Delivery, Rimini Street. “Through our patent-pending research technology and proven methodology, combined with ISO-certified development processes, Rimini Street is committed to ensuring that our clients maintain compliance with the help of our accurate, superior-quality tax, legal and regulatory updates delivered consistently ahead of the vendor’s own planned delivery dates.”

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. Over 2,000 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries rely 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.

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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 forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. 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, 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 (including our pending appeal of the permanent injunction) or in the government inquiry or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the terms and impact of our 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 our recently introduced products and services, including our 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 we expect 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 discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on November 7, 2019, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and 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.

+1 203 347-4446 dpohl@riministreet.com
Media Relations Contact
Michelle McGlocklin

Rimini Street, Inc.

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