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SGV International Tax and Transaction Services Partner Atty. Auresana “Rhena” B. Ines (ABI) was a resource speaker at the Excursion: Navigating the Trail of the Accounting Profession webinar organized by the Junior Philippine Institute of Accountants - Pamantasan ng Lungsod ng Maynila (JPIA-PLM) on 20 November 2022 via Zoom. Around 60 Accountancy students attended the event. Atty. Rhena with some of the participants Atty. Rhena talked about her journey to becoming a CPA-Lawyer and personal and professional challenges she encountered. She also shared tips on getting good grades, passing the board and bar exams, and joining a firm that advocates integrity. Atty. Rhena highlighted the need to have a firm purpose to withstand challenges. She shared that she was able to achieve what she had always wanted to do because of her family, team, and SGV’s support. She added that the Firm’s Purpose aligned with hers and that the Firm gave her the opportunity to do what she loves – mentoring, teaching, and helping others comply with rules. Talent Supervising Associate Julia-Anne J. Deypalan and Talent Associate Juliene Marinela M. Salayon assisted Atty. Rhena in coordinating with the JPIA-PLM team.

Global Compliance Reporting (GCR) Partner Hentje Leo L. Leaño (LLL) served as one of the Overall Co-Chairs of the 77th Philippine Institute of Certified Public Accountants (PICPA) Annual National Convention (ANC) held from 23 to 26 November 2022 in Cebu City. GCR Senior Director Meynard L. Sardalla also served as a member of the ANC Overall Committee.  77th PICPA ANC Technical Sessions Committee members Leo concurrently served as the Technical Sessions Committee Chair in charge of the selection of topics, speakers and moderators for the technical sessions held during the ANC. GCR Associate Directors David Jonathan F. Manalili and Mica Alyana C. Rivera, GCR Senior Associate Jan Marion V. Dela Cruz and Administrative Intermediate Anna Eliza S. Hernandez were also part of the ANC’s Technical Sessions Committee. The topics in the technical sessions revolved around the theme of the 77th PICPA ANC, “Play It Forward: Securing a Sustainable Future.” 

Global Compliance Reporting (GCR) Partners Hentje Leo L. Leaño (LLL) and Maricris U. See (MUS) were recognized as Outstanding Philippine Institute of Certified Public Accounts (PICPA) Members from the Metro Manila Region (MMR) during the 77th PICPA Annual National Convention (ANC) held from 23 to 26 November in Cebu City. Outstanding PICPA Members Maricris U. See and Hentje Leo L. Leaño Leo and Maricris were recognized for their outstanding performance as presidents of the PICPA Eastern Metro Manila Chapter (EMMC) for Fiscal Year (FY) 2016-2017 and Southern Metro Manila Chapter (SMMC) for FY 2020-2021, respectively. Their citations noted their active participation as chairs or members of various MMR and PICPA national committees which contributed to the attainment of PICPA’s goals and aspirations. Also recognized during the 77th PICPA ANC were former Business Consulting Partner and Chief Risk Officer Leonardo J. Matignas Jr. (LJM) and former Country Tax Leader Luis P. Ferrer (LPF) as Honorary Life Members. Congratulations, Leo and Maricris!

SGV Partners Marie Stephanie C. Tan-Hamed (MTH), Christian G. Lauron (CGL), and Clairma T. Mangangey (CTM) served as speakers in the 77th Philippine Institute of Certified Public Accountants (PICPA) Annual National Convention (ANC) technical sessions held from 23 to 26 November 2022 in Cebu City. Stephanie provides economic updates Clairma talks about E&S issuesChristian during his technical sessionStephanie kicked off the technical sessions with an economic update focusing on the Philippine developmental objectives and strategy of the new administration in the context of the global economic environment and conditions. Christian, representing the Public Practice Sector, led the discussion on “CPAs as Industry Leaders in a Highly Disrupted Period” while Clairma discussed “Governance of Environmental and Social (E&S) Issues.” Consulting Markets Co-Leader and EY Asean Fields of Play Leader Maria Kathrina Macaisa-Peña (KSM) moderated the panel discussion on CGL’s technical session, while Business Tax Services (BTS) Partner and Asean Tax Transformation Leader Cheryl Edeline C. Ong (CCO) moderated the panel discussion on “Digital and Agile Leadership: Going beyond Paper to PDF.” Nearly 6,000 participants attended the 77th PICPA ANC with more than 4,600 attending physically at the IEC Convention Center and 1,300 virtually via Zoom.

In furtherance of SGV’s Diversity, Equity, and Inclusiveness (DE&I) initiatives, and in celebration of the holidays, the Firm’s Tax team, through Market Group (MG) 10, worked with the Quezon City Kabahagi Center for Children with Disabilities (QC Kabahagi) in holding a Christmas event entitled “Kabahagi Krismasaya 2022” at the Serbisyong Bayan Park Covered Court, Batasan Hills, Quezon City on 13 December 2022. Event poster SGV Partners Auresana B. Ines, Lucil Q. Vicerra, and Victor C. De Dios with QC Kabahagi Director Karen Sagun (second from left) at Krismasaya 2022 MG10 was represented by EY Asean Tax DE&I Lead Victor C. De Dios (VCD), together with Indirect Tax Senior Director Alden Patrick C. Labaguis, Associate Director Lauren Antonette M. Mendoza, and Senior Associates Kierk Robin M. Ret and Andrea Nicole C. Loreno. Indirect Tax Head Lucil Q. Vicerra (LQV), International Tax and Transaction Services (ITTS) Partner Auresana B. Ines (ABI), and other SGV staff were also present at the event.  Krismasaya attendees SGV Tax team at Krismasaya 2022 Krismasaya is an annual holiday activity for children with disabilities by QC Kabahagi, headed by Director Karen Sagun. QC Kabahagi is set to run a disability awareness program for SGV Tax professionals this 2023.

Financial Services Organization (FSO) Director Christopher G. Yu passed the 2022 Sustainability and Climate Risk (SCR®) certification exam administered by the Global Association of Risk Professionals (GARP). He received his certification on 22 November 2022. GARP-certified SCR professional Christopher G. Yu The GARP SCR certification formally recognizes proficiency in the following subject matters: Foundations of Climate Change; Sustainability; Climate Change Risk; Sustainability and Climate Policy, Culture, and Governance; Green and Sustainable Finance: Markets and Instruments; Climate Risk Measurement and Management; and Climate Models and Scenario Analysis. It also demonstrates one’s ability to assess and manage the sustainability and climate risk challenges that many industries face. Congratulations, Christopher!

Strategy and Transactions (SaT) Senior Manager Lester Jeff D. Pawid passed the Chartered Financial Analyst (CFA) Level 3 examination. Lester took the Level 3 exam on 6 September 2022 and received the positive news in the first week of November. CFA Level 3 passer, SaT Senior Manager Lester Jeff D. Pawid Offered by the CFA Institute, the CFA credential is the standard of choice for investment professionals with real-world analytical skills, technical competence, and high ethical and professional standards. Level 1 tests a candidate’s knowledge and comprehension of investment tools, while Level 2 focuses on the application of these tools and analysis for asset valuation. Finally, Level 3 synthesizes all learnings in the portfolio management context and incorporates a constructed response component. Candidates who have completed all three levels of the exam may seek to earn the CFA Charter after meeting the required professional work experience.  Lester took the Level 3 exam a week before he reported for his first day of work at SGV. He says that he is grateful for the support of SaT Partner Marie Stephanie T. Hamed (MTH) who allowed him to start at a later date so that he could concentrate on his preparation for the exam.  Congratulations, Lester!

SGV Clark launched the inaugural edition of the Doing Business in Clark publication on 7 November 2022 at the SGV Clark office. Over 100 SGV partners and alumni, key government officials, and representatives from different foreign embassies attended the launch. SGV partners and leaders pose with the DBC brochure Developed by SGV in close collaboration with the Bases Conversion and Development Authority (BCDA), Clark Development Corporation (CDC), and Clark International Airport Corporation (CIAC), the publication is a brief guide for potential foreign and local investors looking to set up business operations in Clark. The publication aims to promote and highlight the developments in Clark, Pampanga, as well as the reforms and initiatives set forth by the government and the private sector that would benefit locators and investors alike. SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) gave the opening remarks. Keynote speakers SGV Vice Chairman and Deputy Managing Partner Maria Vivian C. Ruiz (VCR), SGV Senior Policy Adviser and Former Ambassador Delia Domingo Albert (DDA), BCDA Chairman Delfin N. Lorenzana, BCDA President and CEO Aileen Zosa, CDC President and CEO Atty. Agnes Devanadera, CIAC OIC President and CEO Darwin Cunanan, and Philippine Ambassador to Korea Maria Theresa B. Dizon-De Vega also delivered their respective messages. SGV Clark Partner-in-Charge and Head Margaux A. Advincula (MAA), Market Group 7 leader Jose Pepito E. Zabat III (JEZ), and SGV Clark Tax Partner Hentje Leo L. Leaño (LLL) organized the event. The Doing Business in Clark publication is the latest edition in SGV’s Doing Business in the Philippines series. The brochure presents an economic overview of Clark, its taxation rules, investment policies, incentives for investors, and essential information on Clark’s assets.

SGV’s Indirect Tax (IDT) team conducted a virtual Strategic Trade Management Act (STMA) Awareness Forum for clients on 27 October 2022 via MS Teams. The forum aimed to provide valuable insights into Republic Act (RA) No. 10697, “An Act Preventing the Proliferation of Weapons of Mass Destruction by Managing the Trade in Strategic Goods, the Provision of Related Services, and for other purposes.” More than 100 clients from various industries engaged in importation and exportation, logistics, and freight forwarding services attended the event. SGV Tax Leader Fabian K. Delos Santos (FKS) delivers his opening remarks IDT Manager Erika Ruiz gives a brief background on the STMA The SGV IDT team led by IDT Principal Arlyn A. Sarmiento-Sy (fourth from left) awards a Certificate of Appreciation to DTI representative Atty. Dimayacyac SGV Tax Leader Fabian K. Delos Santos (FKS) kicked off the event by delivering his opening remarks. IDT Manager Erika Joy S. Ruiz served as one of the resource speakers. She discussed the relevant implementing rules and regulations (IRRs) of STMA including a brief background of the law, its implementation by the Department of Trade and Industry (DTI), relevant STMA issuances and common issues, and practical tips. DTI–Strategic Trade Management Office (STMO) Senior Trade Specialist John Derrick C. Anchinges and OIC-Director Atty. Janice S. Dimayacyac were also speakers at the event. Mr. Anchinges discussed the recent developments and implementation of STMA, DTI-STMO-conducted audits, the number of ongoing, registered, or licensed applicants, and other relevant topics, while Atty. Dimayacyac served as one of the panelists and moderators during the open forum session.  SGV IDT Leader Lucil Q. Vicerra (LQV) delivered the closing remarks and thanked the IDT team for organizing the event and the DTI–STMO representatives for sharing their knowledge and expertise on the subject matter. The STMA forum was led by IDT Principals Arlyn A. Sarmiento-Sy (AAS) and Victor C. de Dios (VCD) as Project Head and Co-Project Head, respectively. They were supported by IDT Senior Associate Gabriel B. Carumba as the Project Lead, and IDT Managers Erika Joy S. Ruiz and Edwin M. Sulit as the Co-Project Leads. IDT Senior Associate Jerry M. Santos acted as the event host. The IDT team paid a courtesy visit at the DTI-STMO on 17 November 2022 to physically award the Certificate of Appreciation to Mr. Anchinges and Atty. Dimayacyac. Programs and activities of the DTI-STMO were also briefly discussed during the visit.

Members of the SGV Indirect Tax (IDT) team conducted a webinar entitled Exploring Trade Opportunities Through the Lens of Logistical Challenges with the British Chamber of Commerce of the Philippines (BCCP) on 17 November 2022. Representatives from the BCCP and the Bureau of Customs (BOC) participated in the joint event, which was held online via Zoom. Speakers at the Exploring Trade Opportunities Through the Lens of Logistical Challenges webinar SGV IDT Senior Director Atty. Alden Patrick C. Labaguis and Ms. Genilyn D. Minardo, Customs Operations Officer V of the BOC, led the webinar. Atty. Alden commenced the webinar by giving a brief update about the Bureau of Customs’ collections as of 31 October 2022, and the factors contributing to the BOC’s revenue and collections. He shared his extensive knowledge on common customs issues and possible workarounds to help clients address these issues and, consequently, help the government to collect the proper taxes on importation. He discussed major customs issues relating to port congestion, logistical delays resulting in demurrage and detention fees, concerns on the issuance of import permits and government approval, and lengthy customs procedures.  Atty. Alden also discussed the governing customs laws in the Philippines, new rules on importation accreditation, Super Green Lane (SGL) accreditation and its benefits, lodgment procedures, post-clearance audit (PCA), the importance of the Prior Disclosure Program (PDP), advance rulings, and the computation of duties, taxes, freight, penalties, and interests. Meanwhile, Ms. Genilyn discussed the Authorized Economic Operator (AEO) Program.  Both speakers addressed questions from the participants during the open forum. SGV IDT Associate Director Atty. Gracia Mae A. Beronilla, and Senior Associates Attys. Michelle V. Alvaro, Charlene Joy W. Millares, Andrea Nicole C. Loreno, and Natividad G. Busa were part of the webinar's organizing team.