October 2023

SGV Tax Partner Atty. Auresana “Rhena” B. Ines was the keynote speaker at the “Transfer Pricing Rules & Electronic Invoicing/Receipting System Updates” webinar organized by the Association of Pharma Financial Executives, Inc. Around 50 financial executives attended the webinar, which was held via Zoom, on 21 September 2023. Atty. Rhena (center) with webinar participants Atty. Rhena provided an overview of the electronic invoicing and receipting system and discussed rules on Transfer Pricing. She also talked about the recent developments on Transfer Pricing audit.

Financial Services Organization (FSO) Technology Consulting Principal Anurag Mishra was a panelist in the inaugural Citi Philippines Securities Services forum organized by Citi Securities Services Philippines. Anurag was joined by Citi Philippines CEO Paul Favila and Citi Philippines Securities Services Head Tiffin Tanseco.  Forum photos courtesy of Citi Securities Services Philippines Key asset managers and asset owners attended the forum, which also featured other speakers from The Philippine Stock Exchange, Inc. (PSE), the Philippine Securities and Exchange Commission (SEC), Sun Life, and Citi subject matter experts. They covered topics on macroeconomics, intelligent operations, blockchain, digital assets, innovation, and environmental, social, and governance (ESG).

SGV Chairman and Managing Partner and Financial Executives Institute of the Philippines (FINEX) President Wilson P. Tan was featured in CNN Philippines’s The Final Word on 28 September 2023.  Wilson during the interview He gave an overview on the FINEX Week which was held from 2 to 6 October 2023, where online and in-person sessions engaged participants around resilience and recalibrating their sustainable growth strategies while navigating the uncertainties prevailing in the present business environment. Wilson was joined by FINEX Week Committee Co-Chairperson Mailene Bisnar. Wilson’s interview can be viewed here.

SGV Consulting Partner Charisse Rossielin Y. Cruz was a speaker at the 2023 Insurance Asia forum held at Shangri-La The Fort Manila on 3 October 2023.  Charisse at the Insurance Asia forum Charisse talked about emerging trends, problem areas, and possible opportunities in the insurance industry. She also covered emerging focus areas insurers must be on the lookout for. Fellow distinguished insurers in the Philippines attended the forum.

SGV Financial Services Organization (FSO) Technology Consulting Principal Anurag Mishra was a speaker at the 2023 Asian Banking and Finance forum. It was attended by regulators, prominent bankers, and industry experts. Anurag (left) at the 2023 Asian Banking and Finance forum Anurag talked about embedded finance, digitalization, buy now, pay later (BNPL), loyalty programs, and how hyper-personalization enhances customer experience and engagement. He also discussed the risks associated with these programs as well as how engaged customers drive product improvements and revenues and is a market differentiator. He emphasized the role of regulators in ensuring fair practices, protecting customer data, and promoting transparency in loyalty programs. 

SGV Partners and Managers joined the 2023 Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region (MMR) Geographical Area Office (GAO) Tax Conference with the theme “Beyond Numbers: Reinforcing the Roles of Regulators and Accountants for Effective Tax Compliance.” The event was held from 14 to 15 September at the Century Park Hotel Grand Ballroom in Malate, Manila. Around 400 participants per day attended the event. Group photo with Earvin, Sonia, Crissee and Meynard PICPA MMR Chair and GAO Regional Director Sonia D. Segovia and Tax Conference Committee Chair Maricris “Crissee” U. See led the PICPA MMR GAO team. Tax Conference Committee Co-Chair Meynard Sardalla and Tax Conference Committee Member Earvin Darren Lee were the Masters of Ceremonies during the event. MUS discussed the Bureau of Internal Revenue’s (BIR’s) 2023 Priority Plans highlighting its Digital Transformation Program, as well as its focus on Taxpayer Services, and Audit and Enforcement Program. Philippines and Asean Business Tax Services (BTS) Leader Jules E. Riego capped off Day 1 with his discussion on “How to Properly Manage a Tax Audit.” He highlighted the basic procedures of a tax audit, cited real cases, and provided tips in handling various situations which may occur during a BIR tax audit. Jules discussing the BIR tax audit process SGV Tax Partners Atty. Margaux A. Advincula and Atty. Cherry Liez Rafal-Roble were panelists in a roundtable discussion covering fake receipts and ghost companies in fake transactions. MUS moderated the roundtable discussion. Earvin presents certificates and tokens of appreciation to Crissee, Liez, and Margaux Margaux also joined another roundtable discussion which covered hot tax topics and some controversial taxpayer issues and concerns. PICPA Southern Metro Manila Chapter (SMMC) President Aileen L. Saringan and PICPA Western Metro Manila Chapter (WMMC) President Peter John R. Ventura introduced some of the speakers. SGV Tax Partners Atty. Tesi Lou Guanzon and Jay Ballesteros also joined the conference. The conference was also graced with the presence of Albay Representative Hon. Jose “Joey” Salceda and the virtual presence of BIR Commissioner Hon. Romeo “Jun” Lumagui, Jr. As the conference’s guest speakers, they answered tax questions and tax concerns from the participants.

Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region (MMR) Chair Sonia D. Segovia, with the assistance of PICPA MMR Professional Development Committee Chair Maricris “Crissee” U. See, organized the PICPA MMR’s Non-government Organization (NGO) Summit held from 11 to 12 September 2023 at the Century Park Hotel Manila. More than 160 participants attended the event. Sonia and Crissee (center) with the PICPA MMR NGO Summit speakers and panelists The summit’s theme was “Beyond Numbers: Building Resilience in NGOs through Effective Compliance, Governance and Financial Management.” The summit covered topics related to Philippine Council for NGO Certification (PCNC) accreditation process and guidelines, areas of evaluation, and the applicable taxes for NGOs. It also covered the tools or accounting systems for NGOs, tips on how to properly handle the challenges and risks faced by NGOs, and common issues encountered by NGOs in relation to Securities and Exchange Commission (SEC), Department of Social Welfare and Development (DSWD), and Bureau of Internal Revenue (BIR) matters. PICPA MMR NGO Summit attendees PICPA Southern Metro Manila Chapter (SMMC) President Aileen L. Saringan and PICPA Western Metro Manila Chapter (WMMC) President Peter John R. Ventura introduced some of the speakers, while Crissee moderated the technical session on “Common Findings in Evaluating NGOs: Strategies for Addressing and Implementing Corrective Measures.” The roundtable discussion panelists comprised PCNC evaluators and executives from various companies. 

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte and Business Tax Services (BTS) Partner Atty. Cherry Liez O. Rafal-Roble were speakers in the 2nd World Clean Energy Philippines Conference + Expo 2023 held at the Novotel Hotel. Benjie and Liez talked about “Carbon Emissions Reduction: Replacing Fossil Fuels in Electricity Generation” and “Philippine Sustainability Laws, Incentives, and Taxation,” respectively.  Liez and Benjie at the at 2nd World Clean Energy Philippines Conference + Expo 2023 Benjie described decarbonization as one of the solutions in mitigating the effects of climate change. He also emphasized shifting to renewable energy as one of the means to securing a sustainable energy future. Liez discussed the impact of relevant legislation favoring cleaner energy sources. The event was organized by Escom Events.

SGV Tax Associate Shania Rose A. Lozano ranked 4th in the May – June 2023 US Certified Management Accountant (CMA) exam. She also received the US CMA Distinguished Performance Award for her excellent scores on the exam. The results were announced on 20 September 2023.  SGV Tax Associate Shania Rose A. Lozano, CPA, CMA The CMA title is a credential that represents enhanced expertise in areas of accounting and finance, with competencies in strategic thinking, business analysis, and leadership. It is offered by the Institute of Management Accountants (IMA). Congratulations, Shania!

SGV Chairman and Managing Partner Wilson P. Tan was a panelist at the Makati Business Club’s “A CEO Briefing: The State of Sustainability Reporting in the Philippines” on 18 September 2023. The briefing gathered club members, C-Suite level representatives, CSR, Operations, and Sustainability Officers from various organizations. Wilson (lower right) at the CEO briefing Wilson discussed current trends and developments in sustainability reporting and how International Sustainability Standards Board (ISSB) standards could impact future sustainability reporting. He reiterated the role of regulators, investors, and stakeholders in the need to communicate sustainability information.