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.