Tax Partner Sonia D. Segovia (SDS) was the Chair of the 2021 Philippine Institute of Certified Public Accountants Metro Manila Region-Geographical Area Office (PICPA MMR-GAO) and Association of Certified Public Accountants in Public Practice (ACPAPP) Joint Tax Summit held on 6-7 May. With the theme Navigating the Economic and Tax Development – Now and Beyond COVID-19 Pandemic, the event included sessions on tax transformation programs, local tax updates, and economic forecasts.
The summit kicked off with a session on BIR digitalization and tax transformation programs led by BIR Deputy Commissioner of the Information System Group Hon. Lanee C. David. Keynote Speaker and Bangko Sentral ng Pilipinas (BSP) Deputy Governor Hon. Francisco G. Dakila Jr. talked about the economic recovery plans and programs of the BSP. PICPA Southern Metro Manila Chapter President and Tax Partner Maricris U. See (MUS) introduced Dr. Alvin P. Ang, Director of the Ateneo Center for Economics Research and Development, who gave a lecture on the economic review and forecast for 2021. The question-and-answer session following the lecture was also moderated by MUS.SDS, MUS, Mike, MAA and Don Don presenting at the webinar
The Summit’s 2nd day began with a town hall session on tax updates and reforms in the local tax landscape led by Deputy Executive Director of the Bureau of Local Government Finance Hon. Jose Arnold M. Tan with panel reactors composed of representatives from the Treasurer’s Offices in Local Government Units in Manila, Cebu, and Davao.
Afterwards, SGV Tax Senior Director and Joint Tax Summit Co-Chairman Mike Madlangbayan introduced Tax Partner Margaux A. Advincula (MAA), who moderated a session on the newly legislated Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act with the BIR Technical Working Group. MAA presented the salient points of the Act, particularly the proposed adjustments on corporate tax and other taxes as well as the rationalization of fiscal incentives. MAA, BIR Assistant Commissioner for Legal Services Hon. Larry M. Barcelo, and BIR Assistant Commissioner for Project Management and Implementation Services Hon. Elenita B. Quimosing then conducted an open forum and addressed participants’ questions.
ACPAPP Chairman of the Tax and Advisory Committee and SGV Tax Senior Director Don Don T. Mojica delivered the closing remarks of the Summit and emphasized the importance of staying updated on the latest tax and economic developments.