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The SGV 1 and SGV 2 buildings were recognized by the Green Business Certification Inc. (GBCI) as the first Total Resource Use and Efficiency (TRUE) Precertified facilities in the Philippines. This recognition highlights SGV's commitment to sustainability and environmental stewardship and marks the beginning of its path to full TRUE Certification for Zero Waste.  SGV 1 and 2 buildings This initiative is part of the environmental efforts of the SGV Sustainable Actions for Value-Creation and Enablement (SAVE) Council as the Firm adopts and redefines better ways of doing business, particularly in pursuing and achieving its zero-waste goals while becoming a more resource-efficient organization. GBCI is the world’s leading sustainability and health certification and credentialing body. Its TRUE Certification for Zero Waste program strives to change the way materials flow through society while ensuring that all products are eventually reused and diverted from landfill, incineration (waste-to-energy), and the environment. 

SGV Baguio conducted a two-day Tax Compliance Seminar from 27 to 28 July 2023 at the Venus Parkview Hotel, Baguio City. The seminar discussions focused on the taxation of local accounts payable (AP) process and tax assessment backroom support. It also highlighted the strict rules on substantiation for input VAT and income tax purposes. Eighty-eight participants from various companies attended the event.Leo at the Tax Compliance Seminar SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño discussed the basic concepts of input value-added tax (VAT), guidance in determining the proper expanded withholding tax (EWT) base and applicable EWT rates on local purchase transactions, and rules in claiming income tax deductions. He also provided a bonus discussion on the preparation of documents and information for tax assessments. Leo facilitates interactive exercises

SGV Climate Change and Sustainability Services (CCaSS) Senior Associate Raymond R. Paras was a resource speaker at the Mapúa University webinar entitled “Driving Sustainability and Carbon Neutrality: Empowering the Next Generation for a Greener Future” held via Zoom on 29 July 2023. More than 230 participants, composed of students from various local and international universities, educators, industry professionals, and participants from non-government organizations (NGOs) and government agencies attended the webinar. Webinar poster Raymond presented an overview of sustainability where he discussed its definition, pillars, the driving forces that kickstart initiatives and meaningful actions toward sustainable development, and global and local regulatory developments in relation to sustainability reporting. CCaSS Senior Associate Raymond Paras during the webinar He talked about the awareness of different generations on environmental issues and how governments, organizations, and communities can help mitigate their impact. He noted various sources of information that play an increasingly important role in how individuals, across all generations, perceive and react to information. He also described some initiatives of SGV’s Sustainable Actions for Value Creation and Enablement (SAVE) Council such as the SAVE4Water Project and the reusable-clothes donation drive in April 2023. Webinar participants Raymond also discussed actions that can be taken by various generations to build a more sustainable future, including some scenario analysis for the participants. A Q&A session was conducted after the presentation where participants asked for advice on how they can provide sustainable solutions in partnership with local communities. The webinar was conducted in line with Sustainable Development Goals 4 (Quality Education) and 13 (Climate Action) of the United Nations Sustainable Development Goals. It aimed to equip and inspire participants to create a sustainable and carbon-neutral world.

The Climate Change and Sustainability Services (CCaSS) team closed FY23 by observing Philippine Environment Month through a Sustainabits session on e-waste. The session, entitled “Reduce, Reuse, E-Cyle: E-waste management and handling” aimed to advance the audience’s knowledge on Circular Economy by tackling the fastest growing yet valuable waste stream of electronic waste. CCaSS team (right) during the Sustainabits session Business Consulting and CCaSS Partner Conrad Allan M. Alviz welcomed more than 200 attendees and reiterated the importance of contributing to a circular economy by being mindful of e-waste. He urged the audience to share their knowledge with their communities to create a greater impact on the environment. CCaSS Manager Carla Capistrano, Senior Associate KC Corpus, and Associate Marianne Velasco continued the session with their respective discussions. Marianne talked about the definition of e-waste, the types of e-waste and the problem with its over-production versus its low collection rates. Carla then talked about the Tokyo 2020 Medal Project as a case study of e-waste management and recovery of precious metals. KC discussed local e-waste initiatives and urged everyone to practice proper e-waste management through reducing, reusing, and recycling. These include maintaining electronics, re-evaluating purchases, buying used gadgets, and recycling or disposing of them properly by their end-of-life. The session was capped off with a call for the audience’s re-commitment toward responsible action for proper waste management, building on a prior CCaSS session on Circular Economy. The SAVE Council’s Sustainabits initiative is a series of half-hour webcasts covering ideas, movements, principles, and leading industry practices regarding sustainability, social equity, and climate change. 

SGV Clark Partner-in-Charge Atty. Margaux A. Advincula was a resource speaker at the 2023 2nd Quarter General Membership Meeting (GMM) organized by the Clark Investors and Locators Association (CILA) held at the Summerset Ballroom, Old Royce Hotel in Clark, Pampanga on 31 July 2023. The meeting brought together business owners and investors, as well as prominent business leaders in Clark, Pampanga.  Atty. Margaux at the 2023 CILA 2nd Quarter GMM CILA President Dr. Francisco Villanueva Jr. introduced Atty. Margaux as the resource speaker and initiated the discussion on updates on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Implementing Rules and Regulations (IRR) and related Bureau of Internal Revenue (BIR) Issuances, which were included in his President’s Report. He also highlighted the various meetings conducted by CILA in its efforts to reach out to as many people and organizations within the ambit of concerned government agencies such as the Department of Finance (DOF) and the BIR. Atty. Margaux (center) receives certificate and token of appreciation from CILA, represented by its President Dr. Frankie Villanueva (left) and Vice Chairman Radito Tuazon (right) Atty. Margaux led the discussion on updates regarding the CREATE Act and its IRR and recent BIR issuances with a particular focus on the provisions related to the VAT exemption on importation and VAT zero-rating on local purchases by Registered Business Enterprises (RBEs).  (From left to right) Dir. Darwin Malinit, CILA President Dr. Frankie Villanueva, BOC Collector Atty. Noe L. Espenilla Jr., Atty. Margaux, CILA Executive Vice President Evelyn Yumul, and Dir. Froilanda Rodriguez Atty. Margaux was joined by Business Tax Advisory (BTA) Senior Associate Atty. Jessica Ella S. Lagman. 

SGV Clark Partner-In-Charge Atty. Margaux A. Advincula and SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño were speakers in the Tax Compliance Seminar hosted by the Philippine Stationers Association, Inc. (PSAI) held on 9 August 2023 at the Diamond Hotel Manila. Leo (left) and Margaux (right) with PSAI officers Leo and Margaux discussed common tax compliance issues encountered by taxpayers. They provided tips on dealing with Bureau of Internal Revenue (BIR) audits and updates on recent tax-related issuances from the BIR.

SGV Consulting Partner Conrad Allan M. Alviz together with Manager Reymark Lazo and Seniors Renz Criste and Karla Espina joined the Philippine Institute of Certified Public Accountants (PICPA) webinar titled “Spotlight on Commerce and Industry – Emergence of AI to Accountancy Profession” organized by the PICPA Quezon Province Chapter via Zoom. Sixty participants from public practice, academe, and commerce and industry sectors attended the webinar. Conrad’s speaker slide Conrad shared his insights on how Artificial Intelligence (AI) is currently shaping the accounting profession across all four accounting sectors – Public Practice, Commerce and Industry, Government, and Education. He discussed the definition of AI and provided a brief background on its evolution. He also demonstrated basic prompts in using ChatGPT, an AI-enabled tool. He provided sample use cases and relevant news on how AI is being used in each accounting sector. He also further elaborated on the key considerations, advantages, and disadvantages of using AI technology.  Conrad concluded the discussion by emphasizing that AI is transforming accountants' roles and skills, necessitating upskilling and training. He also suggested that accountants embrace AI, adopt a culture of innovation, and seek continuous improvement. He also highlighted that while AI offers increased efficiency and decision-making, it also presents challenges like upskilling and training, as well as concerns for trust, safety, and privacy.

SGV’s Financial Services Organization (FSO) team hosted its fourth episode of FStOries with the theme “A Mother’s Unconditional Love” simultaneously at the e-Café and via MS Teams. In celebration of Mother’s Day, it featured Partners who are also mothers. More than 100 participants attended the event. (From left to right) Francis, Janeth, Marga, and Janet at the FStOries Episode 4 session FSO Leader Christian G. Lauron welcomed the participants to the event. FSO Assurance Leader Janet S. Alvarado-Paraiso and FSO International Tax and Transaction Services (ITTS) Advisory Principal Ma. Margarita “Marga” D. Mallari-Acaban were the panelists while Wealth & Asset Management (WAM) Leader Ray Francis C. Balagtas served as the moderator. FSO Partners with in-person participants Janet and Marga talked about the challenges, lessons, and memorable experiences that come with motherhood and shared some advice which helped them get through difficult times. They also talked about their motivation to move forward and advance their careers as professionals concurrent with their commitments and responsibilities at home.  Banking & Capital Markets (BCM) Leader and FSO People Champion Janeth Nuñez-Javier delivered the closing remarks, where she thanked everyone for attending the event. There were also treats served after the session.

SGV Global Compliance and Reporting (GCR) Partners Hentje Leo L. Leaño and Joanna T. Dela Chica were resource speakers on the topic of Value-Added Tax (VAT) in SGV Makati’s Tax Basics Seminars (Tax BaSe) series held at the Washington SyCip Development Center (WSDC). Leo was also a speaker in the Clark leg of the series held at the SGV Clark Office. There were 133 participants in Makati and 60 in Clark. Leo discusses CREATE Act VAT updates Joanna (left) discusses input VAT substantiation requirements The sessions focused on providing the participants with an updated and in-depth understanding of the basic concepts of VAT and the VAT filing and administrative requirements. Leo and Joanna’s discussions highlighted the VAT provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and updates on the related BIR issuances, especially their impact on Ecozone locators. For the Clark sessions, Leo focused on the impact on entities registered with the Clark Development Corporation (CDC) and the Subic Bay Metropolitan Authority (SBMA), and other Ecozone locators. Leo (right) at the Clark leg of the SGV Tax BaSe series SGV Clark Partner-in-Charge Atty. Margaux A. Advincula delivered the opening remarks, while Market Group 7 Leader Jose Pepito E. Zabat delivered the welcome remarks in Clark.

SGV Global Compliance and Reporting (GCR) Senior Director Meynard L. Sardalla served as a resource speaker at the General Membership Meeting (GMM) of the Association of Hotel and Restaurants Finance Officers of the Philippines (AHARFOPHIL) on 27 July 2023 at Ascott Bonifacio Global City. Finance and accounting officers of member restaurants and hotel properties across the Philippines attended the meeting. SGV GCR Senior Director Meynard L. Sardalla at the AHARFOPHIL GMM Meynard talked about common BIR findings for hotels and restaurants and provided relevant tax updates applicable to the hospitality industry. He also discussed the pending bill on taxation of digital services and its implications for hotel and restaurant operators. Sonia (third from left) with Meynard (center) as he accepts his certificate of appreciation from AHARFOPHIL Market Group (MG) 7 Leader Jose Pepito E. Zabat, GCR Leader Sonia D. Segovia, and Senior Managers Grail B. Ragos and Marc Bonnie B. Wong were also present at the GMM.