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SGV & Co. partners and officials from the City Government of Mandaue signed a Memorandum of Agreement (MOA) to produce the first Doing Business in Mandaue City publication. SGV and Mandaue City MOA signing SGV will provide free technical assistance to the Mandaue City Government in the conceptualization, design, coverage, and publication of the Doing Business in Mandaue City brochure in printed and digital versions. The publication will feature key information regarding Mandaue City’s current social, political, and economic profile, demographics, tax laws and ordinances, and other relevant data which will be of interest to potential investors and business owners looking to establish operations in the city. The MOA signing took place on 10 December 2021 at the Mandaue City Session Hall. It was virtually attended by SGV Chairman and Country Managing Partner Wilson P. Tan (WPT), SGV Cebu Partner Cheryl Edeline C. Ong (CCO), and Global Compliance & Reporting (GCR) Partner Saha A. Bulagsak. SGV representatives who were physically present during the event were SGV Cebu Partner Margem A. Tagalog (MAT) and Business Tax Services Senior Manager Atty. Karen Mae Calam-Ybañez. Mandaue City Mayor Jonas C. Cortes, Vice Mayor Glenn Bercede, Mandaue Investment Promotions Action Center (MIPAC) representatives, and City Council members also attended the event in-person. Doing Business in Mandaue City will be the latest issue of SGV’s Doing Business in the Philippines series, which not only includes a national edition translated into eight languages, but also more localized editions to promote the investment opportunities in various growth locations.

The SGV Tax Markets Core Team and SGV Business Tax Services (BTS) Team held the 1st SGV Business Tax Services Forum on 14 January 2022. Around 400 local and foreign clients and non-clients participated in the event to gain a deeper understanding of the implications of recent developments in taxation to the private sector and the significant changes and improvements they may bring to the economy. Business Tax Services Forum speakers The program kicked off with opening remarks from SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) and was followed by an extensive discussion of topics such as the Overview of Base Erosion and Profit Shifting (BEPS) 2.0 Project by EY ASEAN International Tax and Transaction Services Leader Chester Wee, Philippine Renewable Energy Sector Investment Opportunities in the Philippines by Department of Energy (DOE) Director Mylene Capongcol, Tax Incentives on Green Infrastructure by Atty. Cheryl Edeline C. Ong (CCO), and the Digital Transformation in Tax Administration and Tax Enforcement in the Digital Economy by the Department of Finance (DOF) Undersecretary Antonette C. Tionko. There was also a Q&A session facilitated by Atty. Jules E. Riego (JER) and Atty. Fidela I. Reyes (FIR) for the participants’ inquiries and clarifications for each presentation. The webinar concluded with closing remarks from SGV Tax Leader Atty. Fabian K. Delos Santos (FKS).  The forum was hosted by Atty. Margaux A. Advincula (MAA) and was organized together with the SGV Tax Markets Team and the BTS Team composed of MAA, Senior Director Atty. Donna Frances G. Ylade-Torres and Tax Director Atty. Joyce Elaine H. Laohoo.

SGV Vice Chair and Deputy Managing Partner and EY ASEAN Assurance Leader Vivian C. Ruiz (VCR), as well as SGV MG7 leader and EY ASEAN Financial Accounting Advisory Services Leader Aris “Bok” Malantic (ACM) were invited by the ASEAN Financial Accounting Advisory Services (FAAS) team to join the first virtual EY ASEAN Finance Executive Forum 2022 on 20 January. Around 500 participants including ASEAN clients from a wide range of sectors attended the event. ACM at EY ASEAN Finance Executive Forum 2022 ACM kicked off the panel discussion with an overview of how advanced data analytics, leadership collaboration, and talent strategy can help build a robust finance function. CFO guest speakers Cora Dizon, CFO of AC Energy (Philippines), Munish Kaushal, Vice President Finance - Global Categories, Marketing & R&D of GlaxoSmithKline (Singapore), and Surayut Thavikulwat, CFO of BTS Group Holdings Plc. (Thailand) shared their leadership insights and experiences with their finance teams in leveraging these key aspects to establish an enhanced corporate reporting future. Singapore Financial Accounting Advisory Services Leader Ronald Wong moderated the panel discussion and Q&A session. VCR delivering her welcome address VCR gave a welcome address during the event, emphasizing stakeholders’ growing need for CFOs and finance leaders to become stewards of long-term value for both financial and nonfinancial performance. EY Global Financial Accounting Advisory Services Leader Tim Gordon delivered the keynote speech and EY ASEAN Climate Change and Sustainability Services Leader Simon Yeo further discussed strategies in navigating the complexity of environmental, social and governance (ESG) reporting. The virtual forum concluded with a brief message from ACM thanking the participants and speakers.

SGV Tax Partners took part in the Philippine Institute of Certified Public Accountants Northern Luzon Region (PICPA Northern Luzon) Audit and Tax Local Summit, a CSR Project for Professional Development, on 30 October 2021.  ACE and MUS during the PICPA Northern Luzon Region Audit and Tax Local Summit Tax Partner Aaron C. Escartin (ACE) led the morning session on Differences between Tax and Accounting Rules. Tax Partner Maricris U. See (MUS) led the afternoon session on Expanded Withholding Tax Compliance 101: Understanding the Concept and Common Issues.  The webinars were attended by over 190 participants in both the morning and afternoon sessions. 

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) served as a panelist for Day 2 of the Climate Change Commission (CCC) 2021 Climate Investment Forum held on 23 November 2021.  Climate Investment Forum 2021 poster BNV discussed the global clamor for businesses to adopt a universal standard for sustainability reporting, and how EY has played a leading role in shaping businesses towards creating long-term value by prioritizing sustainability. He opened the presentation by tracing EY’s sustainability and decarbonization journey. In line with SGV’s commitment to building a better working world, BNV shared that EY has launched its long-term value framework and achieved its 2020 goal of carbon neutrality.  BNV described how SGV implements various initiatives to support corporate sustainability through its Sustainable Actions for Value Creation and Enablement (SAVE) Council. He encouraged investors and companies to recognize the importance of sustainability reporting in enhancing their long-term value. He highlighted the role of investors and companies in ensuring that commitments are long-term, and that sustainability is accessible to consumers.  BNV concluded his presentation by sharing SGV’s core service offerings to support clients’ sustainability journey. He and  the other panelists entertained questions from the audience. Moderators Dr. Marqueza L. Reyes and Dr. Ernesto M. Ordoñez concluded the forum. 

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) served as a panelist during an Oracle webinar on 2 December 2021. BNV talked about the global and local landscape of sustainability reporting and how technology and data management can be important to companies issuing sustainability reporting and environmental, social and governance (ESG) performance data. He emphasized key topics such as creating long-term value with sustainability, the global sustainability reporting landscape and managing ESG data to unlock long-term value.  BNV speaking at the webinar The webinar focused on the need for organizations to have strategic and functional knowledge of what sustainability reporting and sustainable business mean for their industry. It also discussed how sustainability reporting can be a key resource in driving change. 

Climate Change and Sustainability Service (CCaSS) Director Erika Courteille was a guest speaker at two separate events on 6 November 2021 and 11 November 2021.  Ignite webinar poster featuring Erika  The first webinar titled Ignite: Discover the Social Enterprise in You was organized by the University of Santo Tomas (UST) Graduate School and had over 800 participants. Erika shared her experiences in starting a social enterprise, the opportunities that eventually led to forming the business model, the impact of COVID-19 on operations and long-term sustainability plans involving a review of emissions in the value chain and shifting to a circular economy. She also briefly mentioned that SGV offers services such as reviewing emissions and sustainability transformation.  Her talk ended with the lessons she learned as a social entrepreneur. Erika presenting at the Rotary Club webinar The second webinar titled Discover Your Own Ecological Footprint and How Many Earths Your Lifestyle Is Worth was hosted by the Rotary Club of Makati Paseo de Roxas. The event was attended by professionals from different industries, the Rotary Club of Makati Paseo de Roxas members, and SGV Business Consulting Partner Leonardo J. Matignas. Erika started her talk by discussing climate change and then described how one can discover one's ecological footprint using the Footprint.org online resource tool. After this activity, she discussed actions that contribute to the carbon footprint per activity and some quick steps to lower emissions. 

SGV Consulting Partner Carlo G. Dimarucut (CGD) participated as a thought leader and moderator in an event organized by Rockbird Media titled 8th Digital Transformation Asia 2021 - A Virtual Strategy Meeting in the Philippines on 10 November 2021. CGD shared his insights during the deep-dive discussion, A future-ready organization: How an integrated risk management reduces business disruption. CGD with other speakers at the event The event served as an avenue for business leaders and tech industry experts in the Philippines to connect and collaborate. It featured trending topics such as innovative tech, cutting-edge strategies on Data Science, Intelligent Automation, 5G Tech, Agile & DevOps, Data Center Infrastructure, Cybersecurity, Cloud, Artificial Intelligence and other tech-related topics. Other thought leaders included Hungry Workhorse Founder and CEO Rey Lugtu, Cypher Learning Founder and CEO Graham Glass, Alibaba Cloud Intelligence - Philippines Country Manager Allen Guo and others.

To inspire SGVeans to nurture connections amidst trying times, the SGV Consulting team conducted the 5th installment of the SheInspires webinar series entitled Corona Love: Love Under Lockdown on 17 December 2021. More than 300 people from SGV attended the event. The webinar took the form of a dialogue moderated by Consulting Partner Jan Ray G. Manlapaz (RGM) and Tax Principal Victor C. De Dios (VCD). Panelists and moderators with RAF and MDM The webinar focused on how the pandemic has been affecting relationships. Panelists shared their personal relationship stories and the roles they have assumed since the pandemic started. They also offered support by expressing their thoughts, feelings, and anxieties, reassuring the participants that they will get through the pandemic together with their partners. Other key takeaways from the event included lessons on the importance of choosing a life partner and how strong relationships are founded on trust, clear communication, and self-worth. Tax Partner Margaux A. Advincula (MAA), Assurance Partner and BES-BSG Head Alvin M. Pinpin (AMP), Consulting Manager Mina L. Sanchez and Consulting Senior Associate Jastine Casco were the panelists at the event. The webinar concluded with the panelists sharing their insights on long-lasting relationships.

The EY Ripples Team in SGV conducted year three of its business clinic on 16 December 2021. Co-organized once more with Endeavor Philippines, this initiative-oriented impact entrepreneurs on leading practices in tax and financial planning to help drive growth in their respective organizations. Participating company representativesand volunteer managers and partners at the EY Ripples Business clinic SGV Chairman and CMP Wilson Tan (WPT) and Endeavor Philippines Co-Founder and Managing Director Manny Ayala welcomed impact entrepreneurs from companies that are mostly engaged in the medical, fintech, and business process outsourcing industries. WPT and Manny Ayala delivering opening remarks at the EY Ripples Business Clinic Tax Services Principal Arlyn Sy (AAS) led a plenary session on how to handle BIR tax audits. She discussed common issues and practical approaches in dealing with them, as well as helpful tips to manage the audit. She emphasized good reporting standards and practices. She also covered how to instill a culture of compliance in a startup company. AAS leading a plenary on How to Handle a BIR Audit The plenary sessions were followed by group mentoring sessions in breakout rooms, where Strategy and Transactions, Assurance and Tax partners and managers addressed participants’ questions.  EY Ripples is a global corporate responsibility program that provides EY professionals with opportunities to use their knowledge, skills and experience to positively impact millions of lives by working with impact entrepreneurs and supporting the next generation to develop mindsets and skills to find and sustain meaningful work.