2020

Tax Partners speak at ACPAPP webinar  Tax Partners Deonah Marco-Go (DMG) and Margaux A. Advincula (MAA) facilitated a tax webinar for members of the Association of Certified Public Accountants in Public Practice (ACPAPP).   MAA kicked off the session with an in-depth discussion on what taxpayers can expect of audits conducted by the Bureau of Internal Revenue (BIR) in the new normal. She outlined the tax assessment process and explained its significant stages. She also discussed due-process requirements, assessment notices served on taxpayers, and issues raised with Letters of Authority and Assessment Notices issued by the BIR. MAA also explained tax audit-related topics, such as the rules on the issuance and enforcement of Subpoenas Duces Tecum, and key takeaways from the issuances published by the BIR in light of the COVID-19 pandemic.   Speakers and participants at the ACPAPP webinar  DMG discussed the latest tax updates and emphasized the recent BIR regulations and issuances such as RR 19-2020 which prescribes the use of the new BIR Form No. 1709. She also spoke on the provisions of RMO 21-2020 which provides the policies and guidelines for the inspection and supervision over the destruction and disposal of wastes, and obsolete goods and assets. She explained the salient provisions of each issuance, detailing its prescribed procedures — the BIR guidelines on the implementation of the forms to be used and the tasks described, and the penalties for violations of the provisions.   The session culminated with a lively question & answer period. The event brought together over 250 participants including SGV Assurance Partner and former Chairman Itos Cruz; Tax Partner Sonia Segovia; former Board of Accountancy Chair Joel Tan Torres; ACPAPP President Anita Rodriguez; and former ACPAPP Presidents Atty. Arminda Guerrero, Carlito Dimar, Jerome Antonio Constantino, and George Villaruz.

KSM presents at FINEX-SAP webinar  SGV Consulting Markets Co-Leader and EY ASEAN Finance Fields of Play Leader Kathrina S. Macaisa (KSM) was one of the speakers at a webinar titled Transform to Agile by Leveraging Emerging Technologies hosted by the Financial Executives Institute of the Philippines (FINEX) and SAP on 28 July. Other speakers included executives from the banking and technology solutions industries. SGV Chairman and Country Managing Partner and FINEX Professional Development Committee Co-Chair Wilson Tan delivered the opening remarks.  KSM with other speakers at the FINEX-SAP webinar  KSM led a session titled Finance of the Future and discussed the challenges that CFOs face caused by disruptive forces such as digital transformation and COVID-19. She shared that transforming to agile goes beyond embracing tools and technology. Emphasizing the need to embrace technological innovations available in the market, KSM explained that companies also need to equip their finance functions and teams with the right tools to increase efficiency and enhance agility. She also discussed the importance of anchoring transformation programs on a vision that is aligned with the company’s overall vision and strategy. She added that companies should consider the dynamic value drivers shaping the future of finance to protect and enhance their finance functions.

JMC leads IIAP sustainability webinar  SGV Consulting Partner and EY ASEAN Consulting Quality Leader Joseph Ian M. Canlas (JMC) facilitated a session on sustainability and climate risk at the Institute of Internal Auditors Philippines (IIAP) Risk Summit on 30 July. Over 100 internal auditors from various companies in the Philippines attended the summit, which aimed to discuss the importance of sustainability and climate change risk considerations in a company’s enterprise risk management (ERM) process.   JMC discussed research-based climate change risks and their related causes and their impact on both a local and global scale. He also explained the possible impact on the economy and gave examples of damage to the environment. He emphasized that companies should consider climate change and sustainability risks in their ERM process and provided examples of how businesses can minimize the effects of the related risks and maximize potential opportunities. He also shared some actions that the Philippine Government and different private companies are taking to address climate change issues. 

SGVeans conduct COVID-19 relief projects  SGVean members of the Junior Chamber International (JCI) Perlas Pasay, Inc. facilitated a donation drive for medical frontliners and marginalized communities. Financial Services Organization Senior Director and JCI Perlas Pasay President Cathy Biliran and SGV Executive Secretary and former JCI Perlas Pasay President Meldy Baldovino were among those who led the activities.   In partnership with other non-government organizations, JCI was able to donate food, water, sanitation tents, and personal protective equipment such as masks and alcohol-based disinfectants to hospitals and barangays in Metro Manila, Mindoro, Cebu and Bohol.   Turnover of donations to frontliners at Pinamalayan Doctors Hospital  JCI Perlas Pasay, Inc. is a non-stock, non-profit, leadership organization composed of young Filipino women that aims to empower young people to create positive change. The organization recently launched Project PIE (Paper and Ink for Education), a donation drive that aims to provide school supplies to public schools in the Philippines.   To know more about JCI’s projects, visit the JCI Facebook page.

  SGV JAMM 2.0: Are you up for it?  As part of EY’s #BetterTogether campaign, the SGV Talent Team will be holding the SGV J.A.M.M. 2.0 (Just About Music & More!) contest from 14 August to 23 October. The contest aims to bring the SGV community closer together virtually during these trying times through fun and exciting song, dance and artistic performances, among others.  Unlike the previous JAMM sessions that featured solo and small group acts, SGV JAMM 2.0 will showcase the talents of more members of each Market Group (MG), including both partners and staff. Each MG and BES must submit a 25-minute video on their interpretation of the theme #BetterTogether.   Submissions will be accepted at https://tinyurl.com/SGVJAMM2 until 12 August. MG representatives will be given access to the link after they advise their respective MG Talent Consultants. One entry will be featured per week at the SGV@Home Facebook group starting 14 August.   The MG with the best entry will win a prize equivalent to Php 50,000 which will be donated (in cash or in kind) to a charitable institution of their choice. Winners will be announced through email and at the SGV@Home Facebook group during the week of 26-30 October.  For more information, please refer to announcements from the Talent Team or posts at the SGV@Home Facebook group. 

PAS holds Tax Seminar  SGV People Advisory Services (PAS) conducted a seminar on year-end annualization tax requirements and Philippine individual income tax compliance issues for mobile employees on 11 December 2019 at the Washington SyCip Development Center (WSDC). Over 150 financial and human resources executives participated in the seminar.   PAS Partner CRM and Senior Directors Marlynda Masangcay and Jose Rey Manuel speaking at the Tax Seminar   Senior Director Rogelanne Villarubia welcomed participants to the briefing and PAS Leader and Tax Partner Czarina R. Miranda (CRM) provided a comprehensive discussion on year-end annualization. Senior Directors Jocelyn Magaway and Marlynda Masangcay discussed issues affecting mobile employees, tax updates that impact annualization and tax filing and registration requirements for local and foreign nationals. Senior Director Elena Manuel explained annualization results and tax administrative issues.   Seminar participants fill up the WSDC  PAS Executive Director Josephine Adalem discussed individual tax compliance issues of mobile employees and Senior Directors Jose Rey Manuel and Elena Manuel presented illustrative case studies on the different tax issues discussed. The seminar concluded with an insightful open forum.

FSO Director reaches for the sky  SGV Financial Services Organization (FSO) Director Ruben D. Simon Jr. celebrated his 10th year as a mountaineer by penning an article titled The Mountains are Calling that was published in the lifestyle section of the Manila Bulletin on 5 January 2020.   Ben at the summit of Mount Kilimanjaro  Having completed over 100 expeditions, Ben has extensive mountaineering experience covering major peaks and sierras around the world. He shares three important lessons he learned after successfully reaching the summits of Mount Makiling in Laguna, Mount Pulag in Benguet and Mount Halcon in Mindoro. First, respect the mountain and take nothing but pictures when hiking. Second, never underestimate the unpredictable alpine climate and bring proper equipment. Third, hikers must mentally prepare themselves to face rough terrain and extreme temperatures. He emphasizes that successful mountaineering does not solely depend on strength but also on perseverance and endurance.   As an advocate of responsible mountaineering, Ben asks readers to help conserve and protect mountain ecosystems for future generations. He also encourages others to heed the call of the mountains and explore the wonders that the Philippine landscape has to offer.   To read Ben’s full article, go to https://lifestyle.mb.com.ph/2020/01/07/the-mountains-are-calling1/   This feature was written with the permission of the Manila Bulletin, where the article was first published. The Manila Bulletin retains all rights to the article. 

CCO speaks at ECCP morning coffee session  The European Chamber of Commerce of the Philippines (ECCP) - Cebu organized a morning coffee session on Tax Reform Packages and How to Handle BIR Audits last 16 December 2019 at the University of San Carlos. SGV Cebu Partner-in-charge and Tax Partner Cheryl Edeline C. Ong (CCO) led the session before financial executives from small and medium enterprises and export-oriented industries.   CCO speaking at the ECCP Seminar  CCO discussed proposed tax reform packages including the Corporate Income Tax and Incentives Rationalization Act (CITIRA) [House Bill No. 4157], the Real Property Valuation Act [HB No. 305], and the Passive Income and Financial Intermediary Taxation Act (PIFITA) [HB No. 304]. She also discussed relevant BIR audit procedures and taxpayers’ remedies.