The SGV Tax team held the 2nd Business Tax Services (BTS) Forum at the Washington SyCip Development Center on 2 February 2023, with about 100 participants in attendance. The forum focused on the 2023 outlook from a tax perspective.
EY Asean and SGV BTS Leader Jules E. Riego (JER), Office of the Presidential Adviser on Investment and Economic Affairs Project Lead Rafael Jose Consing, Jr., Vice Chair and Deputy Managing Partner Vivian C. Ruiz (VCR), and Tax Senior Director Atty. Cecille Visto
Vice Chair and Deputy Managing Partner Vivian C. Ruiz (VCR) kicked off the event by delivering her opening remarks. For the technical sessions, resource speakers from the National Economic and Development Authority (NEDA), the Board of Investments (BOI), and the Bureau of Internal Revenue (BIR) discussed Philippine economic updates, developments in the implementation of the ease of doing business law, and tax controversy trends.
SGV General Counsel and Tax Partner Atty. Carol A. Racelis (CAR), BIR Legal Service Assistant Commissioner Larry M. Barcelo, SGV Clark Partner-in-Charge and Head Margaux A. Advincula (MAA), Chief of the BIR Law and Legislative Division Atty. Juanito H. Balbastre III, and JER
NEDA Director for National Policy and Planning Desiree Narvaez described economic growth despite the pandemic while BOI Executive Director Atty. Bobby Fondevilla of the Investment Assistance Center talked about the government’s programs to attract more investors in the Philippines. BIR Assistant Commissioner for Legal Service Atty. Larry Barcelo discussed pressing tax issues in line with the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
Vivian delivers her opening remarks
EY Asean Tax Leader Amarjeet Singh and EY Asean International Tax and Transactions Services Leader Chester Wee led the discussions on tax controversy trends in the ASEAN region and provided updates on Base Erosion and Profit Shifting (BEPS) 2.0.
The forum was spearheaded by EY Asean and SGV BTS Leader Jules E. Riego (JER) and SGV Clark Partner-in-Charge and Head Margaux A. Advincula (MAA). SGV Quantitative Services Leader and Asean Tax Transformation Leader Cheryl Edeline C. Ong (CCO), SGV General Counsel and Asean Tax Quality Leader Carolina A. Racelis (CAR), and BTS Partner Tesi Lou S. Guanzon (TSG) moderated the sessions.
Tax Senior Directors Donna Frances Ylade-Torres, Cecille Visto, and Salvador Rey from the Tax Markets team organized the event, with the support of Tax Senior Directors Michelle Arias, Jaclyn Ordoñez and June Catherine Tañedo; Directors Marian Santos and Kevin Paolo Magtibay; and Associate Directors Frederick Abella, Eden Mae Galas, Phillip Dave Cachapero, and Sheena Marie Morale.
The BTS Forum is an annual thought leadership event organized by the BTS group specifically tailored for SGV clients and stakeholders, with well-curated up-to-date topics relevant to the participants. The second part of the BTS Forum, a roundtable meeting with the BIR Officers from Revenue Region 8B, was held on 8 March 2023.