October 2020

Talent joins EY Rebuilders Campaign  SGV’s Talent team, together with the EY Talent community, participated in the EY Global Campaign last 14-25 September. With the theme Rebuilding Your Working World, the program aimed to help those impacted by the pandemic to rebuild and restart their careers through a series of Facebook Live workshops on recruitment-related topics.    JOM, Michelle, Krista, KC, Camille and Mariane during the Facebook Live sessions with other members of the EY Talent community  Talent Leader and Assurance Partner Julie O. Mateo (JOM) was one of the speakers at the Inspire & Ignite Graduate Session where she shared stories on her career journey. She encouraged participants to keep an open mind and explore and widen their career options. She also shared tips on how graduates can navigate the new normal working world. SGV Employer Branding Supervisor Michelle Ong moderated the session. Other speakers included Financial Services Organization APAC Talent Leader Young-Sook Stewart and APAC Talent Attraction and Acquisition Director and Global Strategy and Transactions Recruiting Lead Eva Brookes.  Talent Associates Krista De Guzman, KC Dilla, Camille Pascual, and Mariane Riano participated in different Facebook Live sessions on the four crucial areas in rebuilding one’s career journey: becoming one’s best self, creating an effective resume, building a personal brand, and preparing for an interview.  Over 7,400 people from 99 countries joined the Rebuild Your Working World Facebook group, and over 20,000 viewers tuned in to the live sessions. For more information about the campaign, please visit EY.com. 

Clark conducts CREATE webinar with AFAB  SGV Clark and Tax Partners Hentje Leo L. Leaño (LLL) and Margaux A. Advincula (MAA) led a tax briefing on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill for members of the Authority of the Freeport Area of Bataan (AFAB). AFAB Administrator Engr. Emmanuel D. Pineda welcomed over 80 representatives from different companies and organizations to the event.  LLL and MAA presenting at the AFAB webinar  The speakers discussed the latest updates on the CREATE bill, including its salient features and its potential impact on the Bataan locators. They also explained the proposed adjustments in corporate tax and rationalization of fiscal incentives.   Participants included AFAB Registration Division OIC Alejandro Sugatain, Enterprise Services Officer IV Krizzia Katrina Ocampo, Attorney III Reshel Amor Apigo, Atty. Kara Herrera of the Office of Congressman Jose Enrique Garcia, and SGV Clark Partner-In-Charge Peps Zabat. The webinar was moderated by Tax Associate Director Michael Ray Lapasaran. 

Consulting holds Risk Management webinar   SGV’s Consulting team organized a webinar titled Managing Third-Party Risks using Service Organization Controls (SOC) reports – COVID-19 Considerations on 24 September. The webinar provided a high-level overview on how organizations can manage risks in processes outsourced to third-party service providers through SOC reports.  Consulting Partner Allan W. Ocho (AWO) provided an overview of Trust by Design, a methodology that helps businesses build mutual trust between their company and their third-party service providers. He discussed the key drivers, trends, risks and benefits of third-party risk management, emphasizing the third-party risk assessment process and execution.   AWO and RKC with the Consulting webinar organizing team  SGV Business Consulting Leader Ryan K. Chua (RKC) provided an overview of SOC Reporting, its benefits, importance, and relevance to stakeholders. He also presented sample case studies of SOC Reporting in incident management and payroll processing, among others. He then spoke on the challenges that businesses and their third-party service providers encounter during the pandemic, emphasizing changes to systems and controls. He ended the discussion by presenting action steps that participants may implement in their organizations to maximize SOC Reporting and effectively manage third-party risks.    Over 260 chief risk and compliance officers from various industries, such as banking & capital markets and wealth and asset management sectors, attended the event. Consulting Manager Ma. Isabel Herrera moderated the session. The webinar’s organizing team included Consulting Senior Manager Dara Ledda Urbiztondo, Senior Associates Michelle Helena Uy and Joshua Salvador, and Associate Bianca Monalize Pagarigan.   

Tax Partners hold webinar with SEIPI SGV Tax Partners Cheryl C. Ong (CCO) and Deonah Marco-Go (DMG) were resource speakers at the General Membership Meeting of the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) held last 17 September.   CCO led the discussion on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill and its salient provisions. She also provided insights on how companies can maximize the incentives under the bill and prepare for the proposed tax reforms.   DMG discussed the latest BIR Transfer Pricing issuances, particularly Revenue Regulations No. 19-2020 which prescribes the use of the new BIR Form No. 1709, and Revenue Memorandum Circular Nos. 76-2020 and 98-2020 which clarify certain issues on the filing of BIR Form No. 1709 and its attachments. She discussed the issuances’ salient provisions and how taxpayers can comply with the new requirements. 

SGV Partners and Senior Director join PCA forum  SGV Market Group 8 Leader Narciso “Jun” T. Torres (NTT), Assurance Partner Wenda M. Loyola (WML) and Strategy and Transactions Consultant Alex Dacanay were guest speakers at the Philippine Constructors Association, Inc. (PCA) Talks series on 19 September. With the theme Looking Ahead: What Our Future Looks Like, the webinar discussed the pandemic’s impact on the Philippine construction industry. Representatives from PCA member companies attended the briefing.     NTT provided an overview of SGV and its services. WML presented a market outlook of the construction sector and discussed latest updates and key forecasts on the global, Asian and Philippine construction markets. Emphasizing the pandemic’s impact on construction and infrastructure, she presented key trends in public infrastructure and green investments, public-private partnerships, and public transit, among others. Alex then shared Philippine economic updates and key economic growth drivers and trends in the construction industry. He discussed the government’s Philippine Program for Recovery with Equity and Solidarity (PH-PROGRESO) plan, including the Bayanihan I and II Acts.   The presentations were followed by a panel discussion led by PCA President Will Decena, SMC TPLEX Corporation Chairman Rogelio Murga, DATEM, Inc. President Morris Agoncillo, and Congressman Bayani Fernando. They discussed the challenges that construction companies face in restarting their businesses and action plans on how they can strengthen their operations and increase their resilience

CCaSS holds virtual signing ceremony with PCEx  SGV’s Climate Change and Sustainability Services (CCaSS) Team, led by CCaSS Partner Benjamin N. Villacorte (BNV), organized a virtual signing ceremony with Plastic Credit Exchange (PCEx). The ceremony formalized the Firm’s engagement with PCEx aimed at upholding transparency and driving long-term growth in the organization.     Nanette Medved-Po and Richard De Guzman presenting at the virtual signing ceremony  PCEx Founder Nanette Medved-Po welcomed participants to the event and thanked SGV for supporting the organization’s core sustainability initiatives that aim to deliver solutions to global environmental issues. PCEx Sustainable Community Development Manager Richard De Guzman moderated the session and provided an overview of the organization’s services and operations. He discussed their plastic offsetting and crediting program and plastic neutral certification process which aim to help businesses reduce plastic waste and achieve plastic neutrality.   CCaSS Senior Associate Yna Antipala then presented an overview of SGV’s CCaSS offerings and solutions, including the EY Sustainability Assurance Methodology. BNV delivered the closing remarks and emphasized the Firm’s commitment towards building a future with economic stability and environmental security.   SGV Partners and staff with Nanette and Richard during the virtual signing ceremony  Participants at the event included SGV Chairman and Country Managing Partner Wilson Tan, Vice Chair and Deputy Managing Partner Vivian Ruiz, Learning and Development Leader and CCaSS Partner Clairma Mangangey, Market Group 7 Leader Aris Malantic, Assurance Senior Partner Itos Cruz, and Tax Partner Sonia Segovia.   PCEx is a non-profit organization that partners with sustainability-conscious businesses around the globe to responsibly offset their plastic footprint and reduce the flow of plastic waste into landfills and oceans. 

MCM inducted as First Member of PRC CPD Council   Market Group 2 Leader Marydith C. Miguel (MCM) was inducted as the First Member of the Professional Regulation Commission Continuing Professional Development (PRC - CPD) Council for Accountancy, representing the Philippine Institute of Certified Public Accountants (PICPA). PRC Chairman Hon. Teofilo S. Pilando, Jr. led the virtual ceremony on 6 October. PRC Board of Accountancy Chairman Hon. Noe G. Quiñanola was also inducted as the Chairman of the Council. Other attendees included PRC Commissioners Hon. Yolanda D. Reyes and Hon. Jose Y. Cueto, Jr.  The CPD Council for Accountancy is responsible for the promotion and implementation of programs aimed at the continuous improvement of knowledge, skills and competencies of professional accountants.  Congratulations, MCM! 

COIN Team holds ASEAN Tax webcast  SGV’s China Overseas Investment Network (COIN) team, led by Tax Partners Fidela Francisca I. Reyes (FIR) and Maricris U. See (MUS) and Assurance Senior Manager Jonathan Bino, facilitated a webinar titled Going Global Webinar Series 2: Investing in Malaysia and the Philippines last 18 September. The webinar was conducted in Mandarin and hosted by EY China. Other speakers included members of the EY Malaysia COIN Team.  FIR, MUS and Jonathan with other members of the EY ASEAN COIN Team   The speakers discussed the tax considerations in setting up manufacturing facilities in or transferring supply chain operations to the Philippines. They presented local policies and regulations that may impact existing and new investors, such as COVID-19-related stimulus plans and tax incentives intended to mitigate the impact of the pandemic. The webinar was well-received by participants composed of executives and representatives from Chinese companies.  

CCO speaks at PAMPI meeting  On 23 September, SGV Tax Partner Cheryl C. Ong (CCO) was also a guest speaker at the General Membership Meeting of the Philippine Association of Meat Processors Inc. (PAMPI). Over 60 participants composed of representatives from manufacturers of processed meats and suppliers attended the meeting.   CCO with participants at the PAMPI meeting  She discussed tax updates on recent BIR issuances, the Bayanihan 2 Law, and pending legislation before Congress. She also discussed newly issued regulations such as the submission of BIR Form No. 1709 and related attachments on related-party transactions, the Voluntary Assessment and Payment Program for Taxable Year 2018 (RR No. 21-2020), the CREATE bill, and the extension of the period to avail of estate tax amnesty (House Bill No. 7068). 

Cebu holds CREATE webinar  SGV Cebu organized a webinar on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill for members of the Mactan Export Processing Zone Chamber of Exporters and Manufacturers (MEPZCEM) and the Association of MEPZ Controllers and Accountants (AMCA) last 18 September. Tax Manager Anne Momongan moderated the session.   CCO presenting at the CREATE webinar  SGV Tax Partner and SGV Cebu Partner-in-Charge Cheryl C. Ong (CCO) discussed updates on the bill’s progress, its salient provisions and proposed tax incentives. She explained business strategies companies can explore to maximize the bill’s incentives, creating better opportunities for their businesses. She also provided insights on how companies can prepare for the proposed tax reforms. The webinar’s organizing team included Tax Managers Karen Mae Calam-Ibanez, Edmond Emperio and Senior Associate Wennonah Marie Garces.