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SOURCE Spinnaker Support
Enhanced Maintenance service delivers multinational tax and regulatory updates for third-party maintenance provider's worldwide client base
DENVER, Jan. 2, 2014 /PRNewswire/ -- Spinnaker Support, a global market leader for SAP, JD Edwards, and Siebel third-party maintenance, application/technical management services, and consulting, today announced that its Enhanced Maintenance Support service has delivered stand-alone tax and regulatory compliance updates to companies in Europe, Asia, Africa, and the Americas that required year-end support.
Keeping up with changing tax and regulatory requirements can be a time consuming and tedious task. Culling together end-of-the-year changes can be even more difficult. To ease this burden, Spinnaker Support delivers updates either as part of its standard third-party maintenance model, or to companies that have vendor maintenance but are no longer receiving the required updates under their existing contract. Handling the monitoring of the worldwide updates and changes is Spinnaker Support's Global Tax and Regulatory Compliance (GTR) Team.
The Spinnaker Support GTR team is comprised of experienced tax and regulatory experts, senior developers, and support engineers dedicated to the effective handling of all legislative requirements imposed by governments. Spinnaker Support monitors changes throughout the year but manages an increase in activity towards year-end. The service includes a combination of year-end reporting – Canadian T-4s & T-5's, U.S. 1099s & W-2's (including state EFWI reporting), as well as the budgetary changes that are enacted around the world. Many countries follow a calendar year-end, with budgetary changes requiring attention early in the new year. Many other countries operate with fiscal year-ends, requiring changes at other times throughout the year. Spinnaker Support is fully engaged in making changes for both year-end & new year legislative updates.
Spinnaker Support Distills the Morass of Global Regulatory, Legislative, and Tax Changes into Customized Deliverables for their Clients
Spinnaker Support maintains their reputation on the ability to personalize the tax and regulatory process for each client and deliver timely, accurate updates. It is this attention to detail that has built an unprecedented atmosphere of trust and respect among their clients. Spinnaker Support monitors a host of tax and regulatory sites, identifying over 300 daily notices. For International clients, they monitor Country Updates for over 200 Political Divisions and Sub-Divisions, including Country Income Tax and Budgetary Changes, Treaty and Rate Updates, GST and VAT Changes, Payroll and Social Tax Rate Adjustments, Tax Implications of the EU, MERCOSUR, COMESA, AFTZ and many others. In the US, they monitor Federal and State Income Tax, State Payroll, Unemployment Insurance, Sales and Use Tax and new rules like the recently implemented Sunshine Act.
Spinnaker Support also tracks regulatory requirements that are specific to their client base. Some of the general topics monitored daily include changes and updates made by the following rule making bodies: IASB, IFRS, SEPA, AICPA, GAAP, FASB, PCAOB, COSO, GASB, and SEC. In addition, they monitor legal updates from around the world related to insolvency, bankruptcy and re-structuring, privacy, transportation, anti-trust, and competition; strategy; consumer protection; environmental; corporate and commercial; finance and banking; government and public sector; energy and natural resources; immigration; insurance; intellectual property; international law; employment and HR; litigation, mediation and arbitration; media, telecoms, IT and entertainment; food, drugs, healthcare and life sciences; and real estate and construction. Utilizing Spinnaker Support's customized approach, clients receive only tax, legal and regulatory updates that are unique to their requirements.
Some recent changes include:
Central America & Caribbean:
Proprietary Nine-Step Delivery Process
Spinnaker Support utilizes a proprietary "Nine-Step" Process to ensure accurate and timely delivery of tax and regulatory changes to their clients. In addition to monitoring updates from around the world, Spinnaker Support assesses and analyzes the applicability of the changes to each client, then plans, designs and constructs a customized update or fix, working in conjunction with their clients. Updates and fixes are tested for accuracy, before full deployment, again, working with clients each step of the way. By continually monitoring the tax and regulatory environment, Spinnaker Support optimizes current and subsequent changes for their clients, providing them with informed and seamless transitions when updates arise.
About Spinnaker Support
Spinnaker Support, a global market leader for SAP, JD Edwards, and Siebel third-party maintenance, co-sourcingSM, and consulting services, helps companies maximize their ERP and CRM software investments. Whether companies are planning to replace their high-cost maintenance provider or are seeking supplemental maintenance support for their ERP and CRM applications, Spinnaker Support has a solution to fit their needs. More than 180 current clients worldwide have chosen Spinnaker Support as their provider of choice. Headquartered in Denver, Colorado, Spinnaker Support services are available across the globe via offices located in Cape Town, Denver, London, Mumbai, and Singapore. To learn more about Spinnaker Support, visit www.spinnakersupport.com, call +1-877-476-0576 or follow us on Twitter and LinkedIn.
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