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SGV served as the Technical Adviser for the 1st Manila Bulletin (MB) Sustainability Forum: Beyond Green held in November 2022. The event recognized the Sustainability programs or initiatives from different companies and one government agency. Event poster SGV’s Climate Change and Sustainability Services (CCaSS) team provided sustainability advisory support to Manila Bulletin in terms of the development of MB’s qualitative assessment checklist for its selection of sustainability programs and initiatives of companies to be recognized. The team also provided comments and suggestions on the checklist prepared by MB for its qualitative assessment of sustainability programs and/or initiatives recognized in the MB Sustainability Honors List 2022.  Benjamin with MB Publishing Corporation President Dr. Emilio “Emil” Yap III Diana and Benjamin with MB Business Development Manager Jordan Tan and MB sales consultant and columnist Philip Cu-Unjieng SGV was represented by SGV Financial Accounting Advisory Services (FAAS) and CCaSS Partner Benjamin N. Villacorte (BNV) and CCaSS Director Diana Sadili-Chu in MB’s special recognition event at the City of Dreams Manila on 24 November. The recognition night honored companies and institutions that have been selected by MB for their contribution towards making a sustainable Philippines a reality. Benjamin with Department of Tourism (DOT) Secretary Christina Garcia Frasco The MB Sustainability Honors List 2022 is an initiative by MB to bring forward conversations about sustainability, with the ultimate goal to become a platform that raises awareness about sustainability in the country.

The SGV Talent Team celebrated Christmas with the theme “The 2000s with a sustainable twist.” Members of the Talent team participated in various activities anchored on sustainability principles during their Christmas party on 16 December 2022. Talent team group photo Alvin and Julie with some of the Talent team members during the Christmas Decor judging Members of the Talent Function teams cleaned the Talent floor areas for their spring-cleaning activity. They also participated in a Christmas decorating activity where recyclable and reusable items from the office and their homes were used as Christmas decorations, an exchange gift activity where members exchanged pre-loved personal items that they think will be useful to their intended recipients, and the Best Costume Awards for members who came in their best 2000s outfit without buying new clothes. There were games and raffles during the party as well. Julie, Clairma, and Martin Julie, Clairma, and Alvin Talent Leader Julie O. Mateo (JOM) and Business Services Group Leader Alvin M. Pinpin (AMP) were judges for the Christmas decorating activity. They also gave their respective messages along with Learning and Development Leader Clairma T. Mangangey (CTM) and Assurance Leader Martin C. Guantes (MCG).

SGV Partners Jose Pepito “Pepz” E. Zabat (JEZ), Hentje Leo L. Leaño (LLL), Eleanore A. Layug (EAL), and Alexis C. Zaragoza (ACZ), SGV Senior Policy Adviser Ambassador and DIWATA Chairman Delia Domingo Albert (DDA), and Market Group (MG) 7 Senior Managers Marc Bonnie Wong, Marco Rene Barredo, Leo Niño Canlas, and Juan Gabriel Ma. Cagampan participated in the 68th Annual National Mine Safety and Environment Conference (ANMSEC) held from 15 to 18 November 2022 at the CAP–John Hay Trade and Cultural Center.  Leo, Aris, Delia, Eleanore, and Pepz with former SGV Partner Jaime F. del Rosario, DIWATA Founding President Atty. Patricia A. O. Bunye, Philippine Mine Safety and Environment Association (PMSEA) President Luis R. Sarmiento, ASEAN Eng., and other ANMSEC participants The conference featured mine safety field demonstrations and competitions and mining, metallurgical, geological, and environmental symposia. The safest mines and the best mining personalities/professionals were also recognized during the event.  Eleanore, Pepz, and Delia with former SGV Partner Jaime F. del Rosario and other DIWATA members In one symposium during the conference, DIWATA Chairman DDA and DIWATA President EAL led the launch of the DIWATA Awards. The Awards will recognize outstanding social development and management programs of companies belonging to the Philippine minerals industry. DIWATA – Women in Resource Development Inc. is an NGO advocating for the responsible development of the Philippines’ wealth of resources in the fields of mining, oil and gas, quarrying, and other mineral resources. Pepz, Eleanore, Delia, and Aris with former SGV Partner Jaime F. del Rosario and other ANMSEC attendees Representatives from mining companies, the Department of Environment and Natural Resources (DENR) and its attached bureaus and agencies, and other Philippine mining industry stakeholders (students, teachers, professional organizations, etc.) attended the event.

SGV Clark Partner-in-Charge and Head Margaux A. Advincula (MAA) and Market Group 7 leader Jose Pepito “Peps” E. Zabat III (JEZ) welcomed PEZA OIC Director General Tereso “Theo” Panga, who visited the SGV Clark Office for a special meeting with the SGV Clark Business Tax Services team. The visit took place after Margaux and Peps attended a Special General Membership Meeting (GMM) organized by the American Chamber of Commerce (AmCham) North Luzon Chapter on Ecozones in Depth: Enabling Industry and Investments. Philippine Economic Zone Authority (PEZA) officials, together with members of the AmCham North Luzon Chapter, attended the event at the Clark Marriott Hotel. Market Group 7 leader Jose Pepito E. Zabat III, PEZA OIC Director General Theo Panga, SGV Clark Partner-in-Charge and Head Margaux A. Advincula, and PEZA Enterprise Services Officer II Karen Fernandez  PEZA OIC Director General Theo Panga presented updates on various business and investment opportunities in Clark. He also showcased how PEZA and its ecozones have played a crucial role in attracting Foreign Direct Investments (FDIs) which generated much-needed jobs, exports, local and national revenues, and other economic opportunities for the country.

The SGV Business Tax Services (BTS) team conducted an Electronic Invoicing System (EIS) webinar for clients on 7 November 2022. It was attended by over 800 SGV clients engaged in the export of goods and services, e-commerce, and/or classified as Large Taxpayers by the Bureau of Internal Revenue (BIR), which are covered taxpayers in the upcoming implementation of the EIS. EIS webinar speakers and participants SGV BTS Team awards certificates of appreciation to BIR speakers SGV Technology Consulting Partner Armand N. Cajayon (ANC) discussed the basics of developing an Application Programming Interface (API) that can transmit invoices issued from the taxpayers' system to the BIR. Tax Senior Associate Atty. Ma. May P. Matuguina hosted the webinar and moderated the Q&A session.  The team was also joined by representatives from the BIR. BIR Assistant Commissioner Janette Cruz discussed and answered questions on Revenue Regulations 8-2022 and 9-2022 as well as the latest information, updates, and insights on the BIR’s implementation of the e-Invoicing System (EIS). She was joined by BIR Tax Audit Review Division OIC-Chief Junjun Andallo and Taxpayer Service Programs & Monitoring Division Revenue Officer Tessa Hermosura. SGV Tax Partners Atty. Thyrza F. Marbas (TFM) and Atty. Arlyn A. Sarmiento-Sy (AAS), Senior Directors Atty. Melissa Joyce To and Atty. Rule Amethyst Oporto, Associate Director Atty. Grace Lilac Desuasido, and Senior Associate Atty. Cecille De Villa led the webinar’s organizing team.

SGV Clark Partners and Managers joined the 31st North Luzon Area Business (NLAB) Conference at the Hilton Clark Sun Valley Resort Hotel, Clark Freeport, Pampanga. The two-day event highlighted programs and opportunities for micro, small, and medium enterprises (MSMEs) and large enterprises featuring emerging businesses in North Luzon. Proprietors, top-level management, and executives of enterprises from CAR and Regions I to III attended the event. SGV Clark Partners and Managers at the 31st NLAB Conference SGV was one of the sponsors and key guests of the Metro Angeles Chamber of Commerce & Industry, Inc. (MACCII). SGV Clark Partner-in-Charge Atty. Margaux A. Advincula (MAA), Market Group 7 leader Jose Pepito E. Zabat III (JEZ), SGV Clark Tax Partner Hentje Leo L. Leaño (LLL), Assurance Senior Director Leo Niño R. Canlas, Assurance Associate Director Ezra Yumul, Global Compliance and Reporting (GCR) Associate Director David Jonathan F. Manalili, and Business Tax Advisory (BTA) Associate Director Atty. Philip Dave C. Cachapero represented SGV.  SGV Clark Partner-in-Charge Atty. Margaux A. Advincula, 2nd Dist. of Albay Representative and Committee on Ways & Means Chair Hon. Jose Maria Clemente “Joey” Sarte Salceda, and BTA Associate Director Atty. Philip Dave C. Cachapero Atty. Margaux (leftmost) and Atty. Philip (rightmost) with Bases Conversion and Development Authority (BCDA) Chairman Delfin Lorenzana and Clark Development Corporation (CDC) President Agnes VST Devanadera Key government officials and prominent business leaders graced the event and discussed issues affecting business and the economy particularly in the areas of agribusiness, tourism, infrastructure, and science and technology development, among others. The conference also served as a venue for delegates to network with businessmen from various parts of the country, explore innovative business opportunities, and forge new partnerships. The 31st NLAB Conference was organized by the Philippine Chamber of Commerce and Industry (PCCI) and hosted by the MACCII. It brought together the key officials of the member Chambers and business partners located in North Luzon and promoted the developments being made in New Clark City and nearby areas, as well as the reforms and initiatives set forth by the Government and by the private sector that would affect locators in North Luzon.

The SGV Customs team conducted a complimentary Customs Updates seminar for various clients/importers located in Davao on 13 December 2022 at the SGV Davao office. The SGV Customs Updates seminar was headed by Indirect Tax and Customs Partner Atty. Stephanie V. Nava (SVN) and featured discussions led by Senior Director Atty. Jo Ann Marie O. Casio, Associate Director Atty. Dawna Fya O. Bandiola, and Senior Associates Atty. Michelle V. Alvaro and Atty. Andrea Nicole C. Loreno. Event poster SGV Davao clients/importers at the Customs Updates seminar SGV Davao Tax Partner Saha P. Adlawan-Bulagsak (SAB) delivered the opening remarks and Atty. Jo Ann initiated the discussion by giving an introduction on the Bureau of Customs (BOC) processes. She also explained the Post Clearance Audit (PCA) and Prior Disclosure Program (PDP) processes. Atty. Dawna provided an in-depth lecture on the Authorized Economic Operator (AEO) Program, Strategic Trade Management Act (STMA), and New Rules on Accreditation of Importers.  The SGV Customs team with SGV Davao Partners Saha P. Adlawan-Bulagsak and Jose Raoul J. Balisalisa The SGV Customs Team with SGV Davao Partners Saha P. Adlawan-Bulagsak and Jose Raoul J. Balisalisa Atty. Nicole then described the phases of establishing and operating a Customs Bonded Warehouse. She also presented updates on the 2022 ASEAN Harmonized Tariff Nomenclature (AHTN 2022) and discussed the Tariff Classification/Dispute Ruling.  Atty. Michelle provided clarification on the list of imported articles that no longer require the issuance of an Authority to Release Imported Goods (ATRIG) prior to release from the custody of the Bureau of Customs. She discussed the implementation of the Net Weight per Line-Item Declaration for All PEZA Shipments and updated the clients on other recent customs issuances.  The seminar concluded with a message from SGV Davao Partner-in-charge Jose Raoul J. Balisalisa (JJB) who thanked the attendees for their time and mentioned that the Customs Updates seminar is part of the thought leadership initiatives of the Firm. 

SGV’s Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) teams hosted a webinar titled Climate change and its impact on your reporting on 5 December 2022. The webinar was attended by about 121 Chief Financial Officers and finance team members.  Event poster Assurance Leader Martin C. Guantes (MCG) delivered the opening remarks while FAAS and CCaSS Partner Benjamin N. Villacorte (BNV) and FAAS Senior Director Anna Maria Rubi B. Diaz (Rhia) were the resource speakers at the event. Benjamin and Rhia were also joined by EY Asean FAAS Leader Aris C. Malantic (ACM) for a panel discussion moderated by FAAS Director Sheena Dyan C. Suarez, who hosted the webinar as well. Martin delivers his opening remarks Benjamin talks about creating long-term value with sustainability Rhia talks about accounting for climate change Benjamin and Rhia talked about creating long-term value with sustainability, developments on sustainability standards, and accounting for climate change. Benjamin said that creating long-term value is a strategic move by organizations. He also added that long-term value and sustainability have created a strategic imperative for business leaders to act, driven by investors, regulators, employees, consumers, and a broader society. Panel discussion Rhia talked about increasing expectations from stakeholders and the role of entities in explaining how climate-related matters are considered material from a qualitative perspective in preparing their financial statements. She also discussed accounting considerations that entities need to contemplate in accounting for climate change particularly Philippine Accounting Standard (PAS) 16, Property, Plant and Equipment; PAS 36, Impairment of Assets; PAS 37, Provisions, Contingent Liabilities and Contingent Assets; and PAS 1, Presentation of Financial Statements. CCaSS Senior Director Crystal Aleli R. Cornell, CCaSS Associate Director Rosheena E. Borlaza, FAAS Associate Director Russel P. Ocol, FAAS Administrative Lead Kristine Kaye E. Bacay, FAAS Senior Associate John Andrew H. King, FAAS Associate Julia John B. Tabuzo, and EY Technology Associate John Edward C. Saw were part of the organizing team.

SGV International Tax and Transaction Services (ITTS) Partner Atty. Auresana “Rhena” B. Ines (ABI) and Indirect Tax (IDT) Senior Director Atty. Alden Patrick C. Labaguis participated in the 3rd IT & Business Process Association of the Philippines (IBPAP) CEO Forum with the theme “Harnessing Multi-Sectoral Synergy for Talent Development in PH IT-BPM” on 28 November 2022 at the Manila House, Bonifacio Global City, Taguig. The event was attended by IBPAP Platinum Club members and Ernst & Young Global Delivery Services (EY GDS) representatives. Atty. Rhena (left) and Atty. Alden (right) with IBPAP President and CEO Jack Madrid (center) Guest speakers covered the Philippine Skills Framework which focuses on creating a common skills language, building deep skills for a lean workforce, enhancing business competitiveness, and supporting employment and employability. EY GDS Philippines Consulting Leader Raymond Garret Go was part of the panel discussion. They talked about IT-BPM’s roadmap to 2028, the need to acquire and develop young and innovative talent, the DTI’s role in helping the industry, the execution of set rules, and the role of the academe in upgrading and rescaling courses. The forum concluded with a call to action for the government, academe, and private sector to respond quickly and create other modes of learning such as certification programs. 

SGV International Tax and Transaction Services (ITTS) Partner Atty. Auresana “Rhena” B. Ines (ABI) hosted a webinar on “Recent Developments on Transfer Pricing in the Philippines” organized by the Philippine Institute of Certified Public Accountants (PICPA) Western Metro Manila Chapter (WMMC) on 28 November 2022. Around 70 PICPA members and officers attended the event. Event poster During the session, Atty. Rhena helped participants clarify the items to be disclosed in their respective Information Return on Related Party Transactions (BIR Form 1709), the types of taxpayers required to prepare Transfer Pricing documentation, and the items that they should consider or look into while preparing their audited financial statements for Transfer Pricing audit.