August 2022

Members of the SGV Tax Team conducted a seminar on Transfer Pricing: Overview & Updates with PortCalls on 22 July 2022.  Representatives from different logistics companies in the Philippines participated in the joint event, which was held at the Holiday Inn & Suites Makati. Atty. Alden, Atty. Rhena, and PortCalls Director Ms. Mariel Kiatchko SGV International Tax Partner Atty. Auresana B. Ines and SGV Indirect Tax (IDT) Senior Director Atty. Alden Patrick C. Labaguis led the topic discussions. Atty. Rhena discussed concepts and relevant transfer pricing issuances. She also explained the process of preparing transfer pricing documentation. Meanwhile, Atty. Alden gave a brief discussion on how transfer pricing adjustments on imported goods may have customs implications, such as customs duties and value-added tax (VAT) on importation. Both speakers addressed questions from the participants during the open forum.  The onsite seminar was made possible through the initiative of SGV Logistics Leader and IDT Principal Stephanie V. Nava in collaboration with PortCalls. PortCalls is a news and data provider for cargo transport and logistics professionals. IDT Senior Associates Lauren Antonette M. Mendoza, Ernest Joshua G. Ardiente, Kierk Robin M. Ret, and Andrea Nicole C. Loreno were part of the seminar’s organizing team. 

Members of the SGV Indirect Tax team hosted a webinar entitled Customs Updates 2022: An overview of Post Clearance Audit Hot Issues and Recent Customs Issuances for member companies and other representatives of the Super Green Lane (SGL) Association on 20 July 2022.   Customs Updates 2022 speakers SGV Indirect Tax Senior Director Atty. Alden Patrick C. Labaguis and Associate Director Atty. Gracia Mae A. Beronilla led the webinar. The virtual session was coordinated by Logistics Sector Leader and Indirect Tax Principal Stephanie V. Nava and organized by Indirect Tax Senior Associates Kierk Robin M. Ret, Andrea Nicole C. Loreno, and James E. Gregorio. Atty. Gracia began the discussions by summarizing recent customs updates. She talked about the Customs Bonded Warehouse including its establishment and control, the Admission Temporaire or Temporary Admission (ATA) System, Guidelines for Accreditation of Importers and Customs Brokers, and Guidelines in the implementation of the Liquidation and Billing system and post-entry modification of the Single Administrative Document (SAD). Atty. Alden discussed issues under Post Clearance Audit.  Attorneys Gracia and Alden, along with SGL Association President CJ Garcia, addressed inquiries from the participants during the open forum. Deputy Commissioner of Assessment and Coordinating Group, Bureau of Customs Operations Atty. Edward James Dy Buco gave the opening remarks while Atty. Alden gave the closing remarks. In closing, Atty. Alden thanked the participants and ensured them that the SGV Indirect Tax Team is always eager to host subsequent webinars for the SGL Association. 

Philippine Institute of Certified Public Accountants (PICPA) Angeles City Chapter officers paid a courtesy call on SGV Clark Partners and staff on 6 July 2022.  SGV Clark team with PICPA officers MG7 Leader Jose Pepito Zabat led the SGV team with Tax Partner Hentje Leo L. Leaño, Tax Senior Director Leo Niño Canlas, and Associate Directors David Jonathan Manalili, John Marti Duya, Keith Derick Silva, Ezra Yumul, and Alyssa Antonio. They met with PICPA Angeles City Chapter President Dr. Myrna C. Calma, Public Relations Officer Mariel Pamintuan-Palo, and PICPA National Committee on Awards Chair Anna Lissa Chua-Dycaico. They discussed possible projects, programs, and collaborations between the PICPA Angeles City Chapter and SGV Clark. This was followed by an awarding ceremony where SGV Clark received a certificate of appreciation for its continued support for the Chapter.

Members of the SGV Consulting team joined the second annual ISACA Manila Faculty Summit with the theme Emerging Technology: Risk and Rewards on 16 July 2022. The Faculty Summit aimed to raise awareness of the basic concepts around various emerging technologies.  2022 ISACA Manila Faculty Summit resource speakers ISACA Academe Committee Director and SGV Consulting Senior Director Elvin Mercader spearheaded the planning and organization of the Faculty Summit and provided the opening and closing statements. The breakout sessions featured Consulting Senior Director Alvin Manuel and Consulting Associate Director John Panes, who shared their insights on artificial intelligence and cloud technology, respectively, and how they can impact the education sector. ISACA Manila President and Consulting Partner Allan W. Ocho was one of the panelists. He shared his perspectives on how and why the business community, and particularly the education sector, need to adapt to the study and use of these emerging technologies. He also shared some insights and upskilling techniques to help educators keep up with technological developments. More than 90 educators from about 50 different schools and universities across the Philippines attended the talks on emerging technologies such as cloud, blockchain, artificial intelligence (AI), and the Internet of Things (IOT). The event garnered positive feedback from the participants. The virtual event was organized by ISACA Manila, a professional organization composed of information security, assurance, risk management, and governance professionals. Its purpose is to help communities achieve the positive potentials of technology. SGV partners and managers continue to be actively involved as leaders and volunteers in ISACA Manila. 

SGV Cebu hosted cocktails on 20 July 2022, with SGV Cebu clients and SGV leaders in attendance. SGV ChairmanWilson Tan giving his welcome remarks SGV Chairman and Country Managing Partner Wilson P. Tan welcomed everyone to the event and talked about how glad he was to have the opportunity to reconnect with clients and friends and reestablish professional relationships with the Visayas business community as the country recovers from the challenges brought by the COVID pandemic. He also spoke about SGV Cebu's contribution to the province through the Firm’s active involvement in various projects in the local business community, professional organizations, and local community efforts.  “We will maintain our innovative edge by continuing to anticipate the City’s and the region’s changing business needs and build the highest-performing teams that can ably and effectively address these needs. With our Cebu team leading the way, we are confident that SGV Cebu will continue to grow and shine in keeping with our Purpose of nurturing leaders and enabling businesses to build a better Philippines for our people, clients, and communities,” Wilson said. SGV Partners and clients Meanwhile, Assurance Leader Martin C. Guantes emphasized the Firm’s continuing commitment to improve knowledge and skills for audit quality to enhance investor confidence. SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz and Market Group 4 leader Veronica R. Pore thanked everyone for their continued trust and confidence in SGV. SGV Partners and clients SGV Cebu Partner-in-charge Margem A. Tagalog led a toast to the deep friendship and professional relationship between SGV and the Visayas business community. The SGV Cebu office managers also gave the clients a brief guided tour of the new office. Cebu Senior Tax Associate Atty. May Matuguina was the emcee during the event.  SGV Partners and clients SGV Partners Jun T. Torres, Michael C. Sabado, Alvin M. Pinpin, Aris C. Malantic, Jhoanna C. Go, Jose Raoul Balisalisa, Cheryl C. Ong, Saha A. Bulagsak, Ma. Genalin Q. Arevalo, and Genghis O. Grospe also attended the event. 

Ten SGV Partners and one Manager were sworn into national, regional, and chapter officer positions during the Philippine Institute of Certified Public Accountants (PICPA) turnover and induction ceremonies held on 24 June 2022 at The Oriental Leyte. PICPA officers and members Outgoing President Marydith C. Miguel turned over PICPA leadership to Dr. Erwin Vincent G. Alcala and the new set of officers. She also expressed her gratitude for the opportunity of a lifetime to serve the Institute in such a capacity. She capped off her message by recounting the achievements and accomplishments of the organization during her term and expressed hope for the continuity of these programs. The following SGV Partners and Manager were inducted into national, regional, and chapter offices: Marydith C. Miguel – ex-officio President; Chair, Awards CommitteeJohn T. Villa – Treasurer, PICPA National Board; Chair, Investments CommitteeLucy Lim-Chan – Chair, Ethics CommitteeSonia D. Segovia – Chair, Accountancy Week CelebrationJoseph Ian M. Canlas – Chair, Risk Management CommitteeMaricris U. See – Chair, Annual Planning Conference CommitteeHentje Leo L. Leaño – Co-chair, Annual National Convention CommitteeMeynard A. Bonoen – Chair, Induction and Turnover Ceremonies CommitteePeter John R. Ventura – Chair, Membership Development CommitteeMichael A. Madlangbayan – President, Eastern Metro Manila Chapter; Co-chair, Accountancy Week CelebrationMeynard L. Sardalla – Co-Chair, Annual Planning Conference Committee They were inducted into office by the Professional Regulatory Board of Accountancy (PR BOA) Chair, Hon. Noe G. Quiñanola.

This edition of the SGV Government and Public Sector Bulletin contains some of the highlights of President Ferdinand “Bongbong” Marcos, Jr.’s first State of the Nation Address (SONA) where he presented his key policies and priorities, including priority bills of the Government.See full publication article here: https://www.sgv.ph/publications