September 2023

In line with SGV’s Sustainable Actions for Value-Creation and Enablement (SAVE) Council’s sustainability initiatives and as part of the observance of Earth Week, SGV donated 465.13 kg of preloved clothes to Wear Forward, a local circular-fashion startup. SGVeans from around the country participated in the SAVE Council’s used clothing collection drive, where all nine SGV offices were used as donation sites for preloved items of clothing. Some of the pre-loved clothing donations in SGV offices across the country The SGV SAVE Council expressed its appreciation to everyone who participated in the used clothing collection drive. The Council plans to hold more clothing collection efforts and other opportunities to practice sustainability. Preloved clothing donations packed for shipment to Wear Forward’s warehouse The preloved clothes were sent to Wear Forward’s facility in Bulacan for proper sorting and processing. Wear Forward seeks innovative solutions to the textile waste problem, including clothing recycling and reuse. These initiatives prevent usable clothing from ending up in landfills and further contributing to environmental degradation.

SGV Clark Partner-in-Charge Margaux A. Advincula, together with Business Tax Advisory (BTA) Senior Associates Atty. Ma. Jeanne Therese G. Marasigan and Atty. Fatima Kate N. Garo, joined the 32nd North Luzon Area Business Conference (NLAB) Conference held at the Thunderbird Resort in Poro Point, San Fernando City, La Union. Atty. Margaux (third from right) with Subic Bay Freeport Chamber of Commerce (SBFCC) President Benjamin Antonio III, SBFCC Executive Director Donna May Tamayo, and SGV Business Tax Advisory (BTA) Senior Associates Atty. Ma. Jeanne Therese Marasigan and Atty. Fatima Kate Garo, among others, at the 32nd NLAB Conference Key government officials and prominent business leaders led discussions concerning key issues impacting business and the economy, with a particular focus on investments, tourism, innovation, productivity, and food security in North Luzon. The conference also provided a platform for networking among delegates, allowing them to interact with businessmen from different parts of the country, explore innovative business opportunities, and establish potential partnerships. The two-day event highlighted programs and opportunities for micro, small, and medium enterprises (MSMEs) and their importance in local economic growth. It brought together key officials from member Chambers and business partners located in North Luzon, successfully showcasing the investment potential of the region as an emerging hub for businesses and economic development. The 32nd NLAB Conference was organized by the Philippine Chamber of Commerce and Industry (PCCI) and hosted by the Chamber of Commerce and Industry of La Union (CCILU). 

SGV held its Withholding Tax series as part of the Tax Basics Seminar (TaxBaSe) series, which cover basic and updated tax rules and regulations along with illustrations and practical applications. Participants during the Q&A sessions in SGV Makati (left) and Clark (right) SGV Global Compliance and Reporting (GCR) Partners Josenilo “Nilo” G. Mendoza and Lee Celso R. Vivas were resource speakers in the seminar series held at the SGV Makati and Clark offices, respectively. There were 92 participants in Makati and 36 in Clark. (From left to right) Nilo, Lee, Leo and MeynardSGV GCR Partner Hentje Leo L. Leaño opened the sessions in both the Makati and Clark offices. SGV GCR Partner Francis “Kiko” J. Ricamora was also present during the Clark leg and joined the Q&A session. GCR Senior Director Meynard L. Sardalla and GCR Associate Director David Jonathan F. Manalili hosted the sessions in SGV Makati and Clark, respectively. (From left to right) David, Nilo, Lee, Kiko, and LeoThe Withholding Tax Series is a three-part series that includes General Concepts on Withholding, Expanded Withholding Tax (EWT), and Withholding Tax on Wages (WTW) and Fringe Benefits Tax (FBT). It aims to provide the participants with an updated and in-depth understanding of the general concepts of withholding taxes, and guidance on the computation, filing, payment, and other requirements relating to Final Withholding Tax (FWT) and Withholding Value-Added Tax (WVAT). 

Members of the SGV Clark team paid a courtesy call on newly appointed Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan D. Tan on 30 August 2023 at the SBMA office.  (From left to right) Senior Director Niño Canlas, Associate Director Elgina Rito, Tax Partner Hentje Leo L. Leaño, SBMA Chair and Administrator Jonathan Tan, SGV Clark Partner In-Charge and Head Atty. Margaux A. Advincula, Senior Associate Atty. Fatima Garo, and SBMA Chief of Staff Martin Roman at the SBMA office SGV Clark Partner In-Charge and Head Atty. Margaux A. Advincula, Tax Partner Hentje Leo L. Leaño, Assurance Senior Director Leo Niño Canlas, Global Tax Compliance Associate Director Elgina Rito, and Tax Senior Associate Atty. Fatima Kate Garo congratulated Mr. Tan on his appointment as the new SBMA Chairman and Administrator. They also discussed new collaboration on several tax and investment initiatives to promote the ease of doing business for SBMA locators, including updates on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. They were accompanied by SBMA Chief of Staff and Deputy Administrator for Port Operations Atty. Martin Kristoffer F. Roman.

SGV held its first-ever weeklong Sustainability Summit from 7 to 11 August 2023. SGV’s Sustainable Actions for Value-Creation and Enablement (SAVE) Council and its four pillars spearheaded the event, with the theme, “Build Today, Save Tomorrow: Invest in long-term value creation towards sustainable growth,” which reflects the Firm’s commitment to building a better and more sustainable working world. The Summit showcased the Firm’s sustainability efforts with the goal to inspire SGVeans to adopt a more sustainable lifestyle. SGV Sustainability Summit organizers, speakers, and on-site participants Various talks, simulation activities, demos, and exercises were conducted during the event. It also featured several distinguished external resource speakers, who provided in-depth insights into their sustainability journeys, both professional and personal. Participants check the display of sustainable products One of the highlights of the weeklong event was an auction held for the benefit of the Mindanao fisherfolk. Over 100 registered online and onsite bidders participated in the Treasure Trove auction, raising a total of PhP95,000.00. Chief Sustainability Officer and SAVE Council Chair Clairma T. Mangangey spoke on the state of sustainability efforts and the Firm’s progress toward achieving its sustainability targets. SGV Partners and Principals also shared their sustainability journeys. SGV SAVE Council group photo The Summit was capped off with messages from Chairman and Managing Partner Wilson P. Tan, EY Global Vice Chair for Sustainability Amy Brachio, CCaSS Partner Benjamin N. Villacorte, and Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz.

The SGV Financial Services Organization (FSO) Banking and Capital Markets (BCM) team hosted its annual Banking Industry Briefing on 31 August 2023. Topics such as Sustainability and Climate Risks, Digital Transformation, Innovation and Cyber Security, and a case study on Digital Innovation were discussed. More than 300 participants attended the event. (From left to right) FSO Leader Christian Lauron, BCM Leader Janeth Nuñez-Javier, FSO Assurance Leader Irene Janet Alvarado-Paraiso, Chairman and Managing Partner Wilson Tan, Maya Bank President Angelo Madrid, BSP Financial Supervision Sector Senior Director Melchor Plabasan, BSP Assistant Governor Lyn Javier, Deputy BCM Leader Veronica Arce Balisi, and Markets Leader Vicky Salas at the Banking Industry Briefing FSO Leader Christian Lauron welcomed the participants and delivered the opening remarks. SGV Markets Leader Vicky Salas served as the moderator during the Q&A session with external speakers: Bangko Sentral ng Pilipinas (BSP) Assistant Governor Lyn Javier, BSP Financial Supervision Sector Senior Director Melchor Plabasan, and Maya Bank President Angelo Madrid. Banking Industry Briefing participants FSO Forensics and Cybersecurity Partners discussed different solutions relevant to banking clients and relevant regulatory updates and their impact on the audit of banks. FSO Partner and Wealth & Asset Management (WAM) Leader Ray Francis Balagtas delivered the closing remarks. SGV Chairman and Managing Partner Wilson Tan and FSO Assurance Leader Irene Janet Alvarado-Paraiso, among other Partners, were also present during the event. The FY24 Banking Industry Briefing was organized by FSO Partners and BCM Leader Janeth Nuñez-Javier and Deputy BCM Leader Veronica Arce Balisi together with FSO Senior Managers and BCM Lead Managers Geraldine Rose Ogerio and Glaiza Escaño.

SGV Leaders and Partners paid a courtesy call on newly appointed Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona, Jr. on 23 August 2023. BSP Governor Remolona’s term began on 3 July. SGV Leaders and Partners with newly appointed BSP Governor Eli Remolona, Jr. (center) The SGV team was led by Chairman and Country Managing Partner Wilson P. Tan. He was joined by SGV Financial Services Organization (FSO) Leader Christian G. Lauron, FSO Assurance Leader Irene Janet S. Alvarado-Paraiso, and FSO Banking and Capital Markets Sector Leader Janeth T. Nuñez-Javier and SGV Partners Maria Margarita D. Mallari-Acaban, Veronica Arce Balisi, Joseph Ian M. Canlas, and Charisse Rossielin Y. Cruz.  BSP Senior Assistant Governor Johnny Noe E. Ravalo, BSP Assistant Governor Lyn Javier, and BSP Governor’s Chief of Staff Pia Roman-Tayag were also present during the courtesy call.