Rimini Street Delivers New 2017 Global Tax, Legal and Regulatory Updates

Over 130,000 mission-critical tax, legal and regulatory updates delivered worldwide to date

LAS VEGAS, April 17, 2017 – Rimini 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 next set of global tax, legal and regulatory updates for 2017.  Including the 2017-B update for PeopleSoft clients in the United States and Canada, these updates were once again delivered to clients before the vendor’s own scheduled delivery date for similar updates. In addition, the global updates delivered affected SAP, Oracle E-Business Suite and JD Edwards clients with operations throughout the United States and Canada, as well as the Asia-Pacific, Latin America and Europe, Middle East and Africa regions.

To date, Rimini Street has issued more than 130,000 tax, legal and regulatory updates. The Company uses 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.

Updates for the United States and Canada

In the United States and Canada, Rimini Street provided numerous 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 2016 1042-S Form, 1099-MISC and IRS 1099-INT Form and Instructions for Form 1099-INT. The updates also included changes to Publication 1187 to provide specifications for electronic filing of 2016 Form 1042-S.

At the state level, Rimini Street’s updates related to W-2 Electronic Files, Minimum Wage updates, Taxable Wage Base increases, Income Tax increases, Disability Wage Base increases and Maximum Assessable Earnings for many states, including Colorado, the District of Columbia, Maine, Maryland, Missouri, North Dakota, Oregon and Vermont. At the local level, dozens of tax updates were provided for municipalities in Kentucky, Maryland, Ohio, Oregon, Pennsylvania and West Virginia, including the U.S. Virgin Islands.

For clients in Canada, Rimini Street delivered T4 and T4A form electronic changes for tax year 2016, and RL-1 and RL-2 slips and electronic filing updates. The updates also contained changes related to Garnishment of Support Payments as required by Revenu Québec, Payroll Tax Updates for Ontario, the RRSP Contribution Limit increase and State Maximum Assessable Earnings increases.

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 Argentina, Australia, Brazil, Columbia, Hong Kong, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, New Zealand, Poland, Singapore, Taiwan and the United Kingdom.

  • For Argentina, regional withholding tax changes for gross income and changes in Turnover tax law for the province of Santa Fe.
  • For Australia, updates to the Fringe Benefits Tax Rate.
  • For Brazil, changes to SPED NF-e, SPED EFD and COFIS.
  • For Columbia, updates related to federal tax reform depreciation and amortization, and VAT changes, as well as self-withholding income tax rates.
  • For Hong Kong, revisions to the Statutory Minimum Wage Rate and the requirement to keep the record for employee hours worked.
  • For India, changes to the new Goods and Services Tax (GST), including instructions, configurations and tax procedure migration, effective July 1, 2017.
  • For Indonesia, changes to the minimum wage for all provinces and new income cap on the BPJS Pension Program.
  • For Israel, updates to the 856 Report.
  • For Italy, new exemption rule updates.
  • For Japan, Health insurance rates by prefecture, Long-term Care insurance rate and Employment insurance rate changes.
  • For Malaysia, updates to tax relief changes, income tax rate and the mandatory submission of Return Form of an Employer (Form E) via e-Filing as required by the Inland Revenue Board of Malaysia (IRBM).
  • For Mexico, changes related to Unit of Measure and Update (UMA) value.
  • For New Zealand, updates to Pay as You Earn (PAYE) withholding and reporting for employee share schemes and the Accident Compensation Corporation (ACC) Earners’ Levy threshold.
  • For Poland, changes to the new legal update related to SAF-T files as required by the Polish Ministry of Finance.
  • For Singapore, changes related to new paternity leave legislation and the requirement of Retrenchment Notifications to the Ministry of Manpower (MoM).
  • For Taiwan, changes to electronic filing for non-resident taxpayers and non-resident employee salary withholding tax baseline introduced by the Ministry of Finance.
  • For the United Kingdom, updates affected Real Time Information reporting (RTI), Thresholds, the Apprenticeship Levy, National Insurance, P60 and EPS Data Validation.

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 3,200 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.

“Hundreds of organizations have benefited from the efficiency and convenience of leveraging Rimini Street’s proven, comprehensive tax, legal and regulatory updates. Through our patent-pending research technology and ISO-certified development processes, Rimini Street has delivered more than 130,000 updates worldwide to our Oracle and SAP clients to date,” said Paul Henville, group vice president, Global Product Delivery, Rimini Street. “Our global team of experts, engineers and support professionals remains dedicated to helping clients stay compliant with the constant shift in tax, legal and regulatory updates and to ensuring mission-critical transactions continue to run smoothly.”

 

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. More than 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 https://www.riministreet.com/, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (IR-RMNI)

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, catastrophic events that disrupt our business, 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; 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 Annual Report on Form 10-K to be filed by March 16, 2020, 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.

 

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Investor Relations Contact:
Dean Pohl
Rimini Street, Inc.
+1 203 347-4446
[email protected]

Media Relations Contact:
Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
[email protected]

Relações com investidores:

Dean Pohl

Rimini Street, Inc.

+1 925 523-7636 dpohl@riministreet.com
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BRSA

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