Information

SGV Clark Tax Partners Atty. Margaux A. Advincula (MAA) and Hentje Leo L. Leaño (LLL) spoke at the Business Registration and Basic Bureau of Internal Revenue (BIR) Compliances webinar organized by the Philippine Institute of Certified Public Accountants (PICPA) Central Luzon Region. The webinar was part of the First Regional Summit for Micro Small Medium Enterprises (MSME).   MAA and LLL speak at the Business Registration and Basic Bureau of Internal Revenue (BIR) Compliances webinar Mr. Rizaldy R. Martin, President of the PICPA Bulacan Chapter, welcomed nearly 640 participants in his opening remarks. MAA kicked off the discussion proper about “Business Registration” while LLL discussed the “Basic BIR Compliances” for MSMEs. The webinar concluded with an open forum where MAA and LLL addressed the various questions of participants.  The session was hosted by Mr. Edward A. Isip, Secretary of the PICPA Bulacan Chapter. SGV Clark Office Head and Assurance Partner Jose Pepito E. Zabat (JEZ) was also present at the Regional Summit.

The Philippine Institute of Certified Public Accountants (PICPA) Chapters of Angeles City, Aurora, Bataan, Bulacan, Cabanatuan, Freeport Area of Bataan, Nueva Ecija, Olongapo, Pampanga and Tarlac organized a webinar titled CREATE Act with focus on VAT and its impact to Registered Business Enterprises (RBEs) last 15 July. PICPA Angeles City Chapter President Ms. Julyn Nyril Tiatco-Santos gave the opening remarks and welcomed over 300 participants. PICPA Nueva Ecija Chapter EVP Aileen Fae Africa introduced the speakers, SGV Clark Tax Partner Hentje Leo L. Leaño (LLL) and Tax Associate Director Michael Laparasan. LLL and Michael presenting at the webinarThey discussed the salient features of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, focusing on its VAT provisions and the VAT impact of the rules under Revenue Regulations (RR) No. 9-2021. They also explained its impact on RBEs and their suppliers.  The webinar concluded with an open forum where the speakers addressed the participants’ questions. Tax Associate Brevin Perez was part of the webinar’s organizing team.

The PH EY Private team headed by Jun Torres (NTT), Kristopher Catalan (KSC), Atty. Jules Riego (JER) and Conrad M. Alviz (CMA) successfully organized and conducted the first of the IPO journey webinar series entitled IPOs: Transaction or Transformation.  The webinar was conducted in cooperation with the Philippine Stock Exchange (PSE) with Atty. Roel A. Refran, the Chief Operating Officer of PSE, as guest speaker.  The webinar was attended by more than 100 participants belonging to the C-suites of companies, some of which are considering an IPO in two to three years.     SGV Partners with Atty. Roel A. Refran of the Philippine Stock Exchange (PSE) The webinar was moderated by Shane Dave Tanguin (SDT) and Cheryl Edeline Ong (CCO).  SGV Deputy Managing Partner Maria Vivian Cruz-Ruiz (VCR) welcomed the participants.  In her opening remarks, VCR stressed the importance of an IPO.  She added that for private companies seeking to raise capital, an IPO is an attractive route and strong strategic option to fund growth.  Atty. Roel A. Refran proceeded with his presentation to ‘demystify the IPO process’. He enumerated the benefits of going public and shared the things that private companies should consider before going public, including having a strong management team, a compelling equity story, fair pricing, right timing and being IPO-ready to meet regulatory requirements and investors’ expectations.  The presentation was followed by a panel discussion with SGV partners Marie Stephanie Tan-Hamed (MTH), Maria Kathrina Macaisa-Peña (KSM), Aris Malantic (ACM) and Atty. Jules Riego (JER), together with Atty. Refran. They further expounded on the benefits of IPO, considerations in preparing for an IPO, alternatives to IPO, tax benefits, especially for owners, and insights on corporate governance for those companies planning to hold an IPO. The panel also answered some questions raised by the participants.  NTT delivered the closing remarks and mentioned that SGV continues to support our clients in achieving their business objectives and potentials, as articulated in the SGV Purpose of nurturing leaders and enabling businesses for a better Philippines.  NTT also thanked Atty. Refran for successfully ‘demystifying’ the IPO process, the panelists for providing their insights and the participants who were engaged all throughout the webinar.  KSC and senior directors Jonathan Bino, Felinor Pascua and Royelle Natural, directors April Joy Dy and Lewis Jake Caiman, and SGV’s Brand Marketing and Communications  team provided the necessary support in promoting, organizing and conducting this event.  This IPO webinar series is part of the PH EY Private team’s activities in expanding our reach to entrepreneurs and family businesses to help them achieve their growth aspirations. 

SGV Tax Partner Cheryl Edeline C. Ong (CCO) was one of the panelists at the PEZA Industry Briefing: Updates on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act on September 9, 2021. The virtual briefing, which was spearheaded by the IT and Business Process Association of the Philippines (IBPAP), in partnership with Leechiu Property Consultants, Inc., welcomed over 300 IBPAP member companies.   PEZA Industry briefing panel with the SGV team The keynote speaker in the virtual briefing was PEZA Director General Charito Plaza focusing on the latest updates/developments surrounding the CREATE Act and the salient provisions of its Implementing Rules and Regulations (IRR), particularly those which keenly interest BPOs and other firms, such as work-from-home policy and VAT zero-rating rules. In the ensuing panel discussion, CCO was one of the tax experts invited to share valuable insights. CCO shared her insights on VAT zero-rating rules affecting locator companies in the IT and BPO industries. She then discussed the concerns of most of the companies with the advent of the CREATE Act and its IRR, specifically the feasibility of optional VAT registration of entities enjoying five percent (5%) Gross Income Tax incentive, application of the cross-border doctrine for VAT purposes, and the improvement of the enhanced VAT refund system.  Participation in the virtual briefing was coordinated by Logistics Industry Leader and Tax Principal Stephanie V. Nava (SVN) and Technology Industry Leader and Assurance Partner Manolito R. Elle (MRE). The briefing’s coordination and organizing team included Tax Senior Director Alden Patrick C. Labaguis, Tax Senior Associates Gracia Mae A. Beronilla and Roland Joseph C. Mendoza. 

Over 40 SGVeans attended a series of training sessions on workplace safety conducted by the Safety Organization of the Philippines. The sessions are part of the program led by the Firm’s Occupational Safety and Health (OSH) Committee to ensure the safety of our people working at the office and from home. Those who completed the training sessions are now safety officers certified by the Department of Labor and Employment (DOLE). The participants were composed of partners, managers and associates under Business Enablement Services. The participants of the safety training sessionsThe Basic Occupational Safety and Health (OSH) Training for Safety Officer 2 (SO2), conducted last April, provided an overview of occupational hazards identification and control and OSH program implementation. The Loss Control Management (LCM) for Safety Officer 3 (SO3) was conducted in July-August and aimed to equip participants with advanced knowledge and skills in conducting loss control and risk assessment management and developing and implementing safety policies in the workplace.  The SGV OSH Committee is led by Partners Jimmy del Rosario, Alvin Pinpin and Leo Matignas. The committee manages the Firm’s overall implementation of matters pertaining to safety and health.

Strategy and Transactions (SaT) Associates Gabriel Luis A. Danguilan and John Carlos A. Plata recently passed the Chartered Financial Analyst (CFA) Level 1 examination. They are now one step closer to completing the CFA program.Gabriel DanguilanJohn Carlos PlataOffered by the CFA Institute, the CFA credential is the standard of choice for investment professionals with real-world analytical skills, technical competence, and high ethical and professional standards. Level 1 tests a candidate’s knowledge and comprehension of investment tools, while Level 2 focuses on the application of these tools and analysis for asset valuation. Finally, Level 3 synthesizes all learnings in the portfolio management context and incorporates a constructed response component. Candidates who have completed all three levels of the exam may seek to earn the CFA Charter after meeting the required professional work experience. Congratulations, Glad and JC!

Consulting Leader Rossana A. Fajardo (RAF) was among the speakers at the 8th Philippine Institute of Certified Public Accountants (PICPA) Cebu Chapter Summit. She led the plenary session on Embracing the New Reality: Growth Mindset for Transformative Times and emphasized the importance of possessing the right mindset to lead teams, reimagine new opportunities, and thrive in uncertain times. RAF with PICPA Cebu officers at the summitRAF shared, “transformative leaders are purpose-driven and bring out the best in themselves and in others” by fostering a culture of trust, belonging and teaming. She compared two types of mindsets: the fixed mindset where individuals are focused on proving and demonstrating their abilities; and the growth mindset where individuals leverage on their past growth and success to find ways to improve their abilities and skills. She then provided tips on how participants can lead with a growth mindset using if-then plans – the habit of setting specific actions and goals to effectively visualize success.

Metro Pacific Investments Corporation (MPIC) held its Sustainability Summit 2021 on 6 August and among the speakers were EY Climate Change and Sustainability Services (CCaSS) Leader Mathew Nelson and CCaSS Partner Joseph Ian M. Canlas (JMC). The event included global environmental, social and governance (ESG) resource speakers who talked about key issues such as climate change, sustainability reporting standards, investor expectations and emerging global trends. Over 300 participants attended the event, including the Board of Directors and Senior Management of MPIC. Mathew presenting at the summitMathew discussed the results of the 2021 EY Global Climate Risk Disclosure Barometer, a report which provides a global snapshot of the increasing corporate focus on climate risks and opportunities. He emphasized that climate risks and opportunities should be more than a reporting or disclosure matter. These should be at the center of a business’s growth strategy as understanding climate-related issues can help accurately assess their potential impact on an organization. JMC presenting at the summitJMC then discussed local and global developments on sustainability reporting, as well as the highlights of SGV’s Beyond the Bottom Line: Sustainability Reporting in the Philippines publication. He discussed how publicly listed companies in the Philippines are complying with the Philippines SEC's requirements on sustainability reporting that were implemented in 2019.Both sessions concluded with a Q&A portion where the speakers addressed the participants’ questions. The summit was part of MPIC’s commitment to elevate its sustainability initiatives across all its businesses under the group.

Consulting Director Nathaniel Dizon was among the speakers at the Executive Insight: Fortinet Security Series last 15 July hosted by former PLDT Public Affairs Head Mon Isberto. He joined Fortinet Country Manager Louie Castañeda and Goldilocks Bakeshop Inc. Enterprise Infrastructure Head Don Balolong, who discussed cybersecurity threats and trends affecting the retail industry, as well as solutions and best practices that retailers can implement to address the challenges caused by the pandemic.Nathaniel with the host and other speakers at the webinarNathaniel discussed the global threats and trends in cybersecurity, highlighting the initial results of the EY Global Information Security Survey 2021. He talked about how cybersecurity leaders can reposition themselves as enablers of growth by addressing four main issues – the changing environment caused by the pandemic, pressure brought by fragmented regulation, increasing scale and complexity of cybersecurity threats, and budget inflexibility. During the panel discussion, he emphasized that retailers should invest in cybersecurity solutions and prepare for the future beyond the pandemic. 

Tax Partner Margaux A. Advincula (MAA) was a speaker at the American Chamber of Commerce in the Philippines (AmCham) North Luzon Virtual Kapihan on 30 July. Nearly 100 participants from AmCham member companies, other companies in Northern Luzon, and community partners attended the session, including AmCham North Luzon President Francisco Villanueva, Jr., and Board Members Erlinda Pamintuan, Evelyn Yumul and Cesar Ocampo. MAA with participants at the Virtual KapihanMAA discussed the new rules relevant to Value Added Tax (VAT). She covered the salient provisions of Revenue Regulations (RR) No. 9-2021, which provides new rules on the application of VAT on certain categories of transactions, and the issuance of RR No. 15-2021, which sought to suspend the implementation of RR No. 9-2021.MAA also led an open discussion on the impact of RR Nos. 9-2021 and 15-2021 and potential amendatory RRs, on businesses and communities in Northern Luzon.