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Rimini Street Delivers Next Round of 2017 Global Tax, Legal and Regulatory Updates

Vital ISO 9001-certified tax, legal and regulatory updates issued for client operations across North America, Asia-Pacific, Europe and Latin America

LAS VEGAS, July 11, 2017Rimini Street, Inc., a global provider of enterprise software products and services, and the leading independent support provider for Oracle and SAP products, today announced delivery of the next set of global tax, legal and regulatory updates for 2017. These updates included Rimini Street’s 2017-C update for its PeopleSoft clients in the United States and Canada, which were once again delivered to clients before the original vendor’s own scheduled delivery date for similar updates. The numerous updates delivered also affected its SAP, Oracle E-Business Suite and JD Edwards clients operating throughout North America, Asia-Pacific, Europe and Latin America.

Rimini Street delivers its tax, legal and regulatory updates using an innovative combination of a patent-pending tax, legal and regulatory technology, a proven methodology, and ISO 9001-certified development processes to ensure clients receive accurate, high-quality deliverables. The Company has issued more than 135,000 tax, legal and regulatory updates to date.

Updates for the United States and Canada

In the United States and Canada, Rimini Street provided tax, legal and regulatory updates 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 the Equal Employment Opportunity Commission (EEOC) EEO-4 survey, formally known as the State and Local Government Report. The updates also included changes to the Patient Protection and Affordable Care Act (PPACA) and updates related to new guidance and configuration for lease accounting, as required by the Financial Accounting Standards Board (FASB).

At the state level, Rimini Street delivered updates related to garnishment rule changes and support for the New York Family Leave Law. At the territory level, Rimini Street issued updates to the 941-PR U.S. Employment Tax form for Puerto Rico.

For clients in Canada, Rimini Street delivered Canadian provincial tax table updates and changes to minimum wage increases for Prince Edward Island.

Updates for Asia-Pacific, Europe 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 Argentina, Australia, Brazil, China, France, Hong Kong, India, Italy, Japan,  New Zealand, Norway, Singapore, Spain and the United Kingdom.

The following updates have been delivered to clients:

  • For Argentina, regional withholding tax changes for gross income (Ingresos Brutos)
  • For Australia, updates to the Fringe Benefits Tax Rate, as well as year-end 2017 and start of year 2018 payroll updates
  • For Brazil, updates related to the release of the new PVA Version 4.0.1 for SPED ECD (Digital Accounting Tax Bookkeeping – SPED Contabil) and the new income tax withheld at Source Generator Programme (PGD Dirf 2017)
  • For China, changes to 2017 Average Annual Salary, Minimum Wage rate, Social Insurance Contribution and rate changes for Unemployment and Medical for Shanghai
  • For France, changes to annual reporting of late payments
  • For Hong Kong, revisions to the Monthly Minimum Cap and Employee’s Work Injury and Other Compensation
  • For India, multiple updates to support the introduction of the country’s Goods and Services Tax (GST)
  • For Italy, new VAT payments communication updates
  • For Japan, revisions and updates related to the pension contribution rate increase and withholding tax statement
  • For New Zealand, a number of updates to the minimum wage increase, bank account number validation table, school loan deduction threshold and reporting equity payments to employees
  • For Norway, changes to the SAF-T reporting update, as required by The Norwegian Tax Administration
  • For Singapore, changes to foreign worker levies and re-employment requirements and limits
  • For Spain, updates to the new Immediate Supply of Information system (SII)
  • For the United Kingdom, updates affecting UK payroll annual updates, gender pay gap reporting, auto enrollment threshold and EDI P11D updates

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 3,400 government web sites and close to 3,500 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.

“Our clients from around the world have benefited from the more than 135,000 tax, legal and regulatory updates delivered by Rimini Street’s dedicated team of experts using our patent-pending research technology and proven methodology,” said Paul Henville, group vice president, Global Product Delivery, Rimini Street. “Combined with the premium-level support they receive from Rimini Street, our clients can rest assured knowing that the vital tax, legal and regulatory updates they receive help keep their existing applications compliant and supported without required upgrades for a minimum of 15 years.”

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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