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SGV’s Chinese Overseas Investment Network (COIN) team led by Tax Partners Fidela Francisca I. Reyes (FIR) and Maricris U. See (MUS) and Assurance Senior Manager Jonathan T. Bino spoke at a webinar titled Updates in Tax Law (CREATE Law) last 19 June. Hosted by Chiang Kai Shek College (CKSC), the webinar was advertised in at least three major Chinese-language newspapers and was attended by members of the Filipino-Chinese community. FIR, MUS and Jonathan with CKSC officersThe speakers discussed the provisions of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act), including changes in the corporate tax and other tax rates, and other fiscal incentives reforms. The webinar was conducted in Mandarin and English. The session was followed by a discussion between the CKSC team headed by Atty. Chan and the SGV team headed by FIR. Both teams agreed to work closely towards future partnership, including internship programs and future webinars for the Filipino-Chinese community. 

The Junior Philippine Institute of Accountants - Southville International School and Colleges Chapter (JPIA-SISC) recently organized its 8th Business Lecture Series. Accounting students and teachers from 75 schools across the country attended the webinar which was webcast on Facebook Live and moderated by Consulting Associate Ralph Roxas. AWO and Ralph at the webinarConsulting Partner Allan W. Ocho (AWO) led a session titled Future Accountants as Transformational Leaders and focused on how future accountants can lead changes that can contribute to the transformation and betterment of society. He discussed how the role of accountants has evolved through the years. He explained the area of information technology systems audit and emphasized the accountant’s role as a system designer and system auditor. He also presented technology trends that are shaping the future of audit and accounting and how accountants are in the best position to become transformative leaders. Afterwards, he shared his personal experiences in the accounting profession and recounted stories about his journey from an accounting graduate to a Transformation Consultant. He then provided tips on how students can succeed as future members of the workforce.

Tax Partner Margaux A. Advincula (MAA) and Senior Associate John Marti Duya conducted a webinar titled Updates Introduced by the Revised Corporation Code of the Philippines (RCCP) on 11 June. Hosted by the Junior Philippine Institute of Accountants – Holy Angel University (JPIA-HAU), the event discussed the salient provisions of the RCCP to enlighten BS Accountancy student-delegates on the amendments relevant to their corporation law subjects and future board examinations.MAA and Marti presenting at the webinarThe speakers began with an overview of the RCCP, its rationale and amendments, and the processes it underwent before it was signed into law. They then discussed the Code’s salient features and specific provisions. They also presented a comparison of the updated RCCP and the provisions of the Old Corporation Code. The webinar concluded with an open forum where the speakers addressed the participants’ questions.

The Philippine Institute of Certified Public Accountants (PICPA) Davao Chapter hosted the Joint 28th PICPA Mindanao Geographical Area (Min GAO) and 39th Association of Certified Public Accountants in Mindanao (ACPAMIN) Conference last 16-17 June. Nearly 400 CPAs from the academe, government and public sector, and commerce and industry across Mindanao attended the event. BNV and Yna with Assurance Partner and PICPA Davao Chapter President Jose Raoul J. Balisalisa and other officers of PICPA Min GAO and ACPAMINCCaSS Partner Benjamin N. Villacorte (BNV) and Senior Associate Yna Antipala led the Conference’s fourth technical session titled How will Environmental, Social and Governance (ESG) Performance shape your future. They discussed the importance of ESG and non-financial reporting to investors based on the 2020 EY CCaSS Institutional Investor Survey. They provided an overview of global sustainability reporting standards and the materiality principle in sustainability reporting. They then presented the Security and Exchange Commission’s guidelines on sustainability reporting for publicly listed companies and sustainability reporting trends in the Philippines, emphasizing the results of the Beyond the Bottom Line: Sustainability Reporting in the Philippines report. The webinar concluded with a Q&A portion where BNV and Yna addressed the participants’ questions. The webinar’s local organizing team included Assurance Manager Sharmaine Mamaed, Senior Associate Ellaine Lagura and Associate Xavierich Castañeda. 

The Clark Development Corporation (CDC), in cooperation with the Subic-Clark Alliance for Development (SCAD), and the Clark Investors and Locators Association (CILA) conducted a webinar on Republic Act (RA) No. 11534 and the Strategic Investment Priorities Plan last 18 June. The webinar began with an introductory speech by SCAD Executive Director Atty. Carminda Zarraga-Fabros, and opening remarks by CDC President Manuel Gaerlan. SGV Clark and Tax Partner Margaux A. Advincula (MAA) then discussed the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act) and the Act’s amendments on corporate income taxation and the rationalization of fiscal incentives.MAA with CDC President Gaerlan and Director RecolizadoAfterwards, Board of Investments (BOI) Investment Policy and Planning Service Division Chief Director Sandra Marie Recolizado provided an overview of the Strategic Investments and Priorities Plan (SIPP) currently being drafted by the BOI, the lead government agency in charge of the drafting of the SIPP, in coordination with the Fiscal Incentives Review Board and the different investment promotion agencies such as CDC. She also briefly discussed the incentives under the SIPP/interim SIPP.The technical sessions were followed by a Q&A portion where the speakers addressed the participants’ questions. CDC Vice President Rynah Ventura delivered the closing remarks. Over 200 participants from SCAD, CDC and CILA member companies attended the webinar, including CILA Chairman Dr. Irineo Alvaro Jr., and SGV Clark Head and CILA Vice Chair Jose Pepito E. Zabat (JEZ), other CILA Board Members, and CDC and SCAD Officers. The webinar’s organizing team included Tax Senior Associate John Marti Duya. 

SGV Partners honored retiring former Market Group (MG) 2 Leader and Strategy and Transactions (SaT) Leader and current Transactions Diligence Head Ramon D. Dizon (RDD) with a special virtual retirement program last 11 June. Assurance Partner Mariecris N. Barbaso (MNB) and SaT Partner Marie Stephanie Tan-Hamed (MTH) hosted the program which was webcast from the SGV Development Center. Some of SGV’s leadership team were physically present at the venue and observed proper social distancing and required health and safety protocols. Other partners virtually participated in the celebration from their own offices or homes.  MNB and MTH at the retirement programChairman and Country Managing Partner Wilson P. Tan (WPT) delivered the opening remarks and recognized RDD’s outstanding contributions to strengthening client relationships and developing the skills and competencies of our people. This was followed by a special video presentation featuring RDD’s SGV journey with his colleagues, friends and staff and a fun trivia game about RDD’s career.  RDD’s family, clients, former staff, and colleagues, including several SGV Alumni Partners also prepared video messages for him, sharing stories about his inspiring work ethic and charming personality. The program also featured a special musical performance by MG 2, MG 6 and SaT Partners and staff.  RDD at the retirement programRDD then expressed his gratitude to the Firm and its people, emphasizing the lessons he gained and the wonderful memories and friendships he formed throughout his career. He then encouraged all SGV Partners to continue to diligently serve their clients and nurture their people.  RDD’s token of appreciation  In honor of his 40 years of service to the Firm, RDD was presented with a token of appreciation – a sculpture titled Beyond the Horizon. It depicts a man standing on the roots of a tree, looking out at the horizon for untapped possibilities. The sculpture symbolizes his remarkable foresight and deep understanding of the Firm’s values, culture, and Purpose. Best wishes on your retirement, RDD! 

SGV’s Climate Change and Sustainability Services (CCaSS) Team conducted a public webinar titled Reframing the War on Plastics: Solutions and Leading Practices for Businesses. The webinar discussed the life cycle of plastics and the innovative actions of some businesses that aim to alleviate plastic pollution. Chairman and Country Managing Partner Wilson P. Tan (WPT) delivered the opening remarks and introduced SGV’s Sustainable Actions for Value-creation and Enablement (SAVE) Council. Vice Chair and Deputy Managing Partner Vivian C. Ruiz (VCR) provided an overview of the agenda and the speakers of the session.  WPT, VCR and BNV presenting at the webinarCoca-Cola Philippines Director Jonah de Lumen-Pernia discussed her company’s World Without Waste vision – to collect and recycle every bottle they sell by 2030 and to use 50% recycled content in their packaging materials. Afterwards, Plastic Credit Exchange (PCX) Founder Nanette Medved-Po provided an overview of PCX and its certification services, emphasizing the organization’s goal to achieve plastic neutrality and environmental and social impact. World Wide Fund for Nature (WWF) Philippines Project Manager Czarina Constantino-Panopio presented the organization's No Plastics in Nature project which aims to stop plastic waste leakage by eliminating the use of unnecessary plastics in businesses and improving city-level waste management, among others. Ms. Jonah and Ms. Nanette presenting at the webinar  CCaSS Partner Benjamin N. Villacorte (BNV) led the webinar’s fourth session on considerations for plastic claims and commitments. He discussed the principles of a credible corporate plastic stewardship program and shared best practices on how participants can safeguard their organizations’ reputational risk. The webinar concluded with an open forum moderated by CCaSS Senior Associate Yna Antipala.  

Former Secretary of Foreign Affairs and SGV Senior Adviser Ambassador Delia D. Albert (DDA) joined the Philippine Women's Economic Network (PhilWEN) Meet Our Boards Socials last 27 May. The event aimed to strengthen the relationships among the PhilWEN’s member organizations and board members. All six member organizations presented an overview of their respective organizations, including their membership profiles, and relevant projects and activities.  In her keynote speech, DDA spoke about the positive developments for women and discussed the local and international laws that support women’s rights and protection. She also discussed the crucial role Filipino women play in the community, emphasizing their contributions in different aspects of society – the household, government and foreign service.  She then shared that the country’s rank in the World Economic Forum's Gender Gap Index dropped to 17th place in 2021 due to the decrease in the number of women in Congress and in the Cabinet. Since the survey was first released in 2006, the Philippines consistently ranked as one of the top ten countries in the Index. She then challenged participants to develop solutions that can further help the Philippines narrow the gender gap and regain its position in the Index. 

Tax Partner Hentje Leo L. Leaño (LLL) was a guest speaker at the Far Eastern University - Junior Philippine Institute of Accountants Manila (FEU-JPIA) Annual Convention titled The Closing Entry. With the theme Epic of Greatness: A Legacy in the Odyssey, the event recognized the accomplishments of the organization and its members who have shown outstanding performance during the past year.  LLL presenting at the conventionLLL led a session on his personal leadership journey and discussed his experiences as a student leader in FEU and a Partner at SGV. He shared the challenges he faced and how he overcame each adversity, emphasizing the value of commitment, competence, growth and holistic development. He encouraged the participants to further develop their skills and competencies beyond tax and accounting, highlighting that well-rounded individuals remain more relevant, agile, and are better able to adapt to a rapidly changing business landscape. 

Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi (VAB) conducted the second run of Session 3 of the Capital Markets and Fixed Income Securities Course of the Financial Executives Institute of the Philippines (FINEX) Academy on 24 May. Over 50 sales, finance, compliance and legal professionals attended the session, some for professional development and others in preparation for their SEC certification exam. VAB and Lindza presenting at the training sessionVAB discussed the basic concepts of Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) and provided an overview of global regulators. She shared updates on local AML/CTF regulations, such as the recent amendments on the RA No. 9160, as Amended and certain provisions on its 2018 Implementing Rules and Regulations. She then explained the preventive measures of covered persons/institutions for capital markets and the fixed income securities industry. FSO Associate Lindza Julao also facilitated quick knowledge checks throughout the session where the participants assessed their learning progress through pop quizzes on the topics discussed.