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MAA leads AmCham North Luzon webinar Tax Partner Margaux A. Advincula (MAA) led a webinar titled The road to recovery: CREATE and its impact on MSMEs for member companies of the American Chamber of Commerce of the Philippines (AmCham) last 7 April. Participants included representatives of micro, small and medium enterprises (MSMEs) in North and Central Luzon. MAA covered the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and its impact on MSMEs. She began the session with an overview of MSMEs, particularly their qualifications, governing laws, and impact on the economy. Afterward, she discussed the Act’s various adjustments in corporate tax and other taxes, and the rationalization of the fiscal incentives available to enterprises. The webinar concluded with a Q&A portion facilitated by AmCham North Luzon Board member Krizia Tranquilino. AmCham Philippines Executive Director Ebb Hinchliffe, AmCham North Luzon President Dr. Francisco Villanueva, Jr. and Board members Evelyn Yumul and Robert Siebert also participated in the webinar. The webinar’s organizing team included Tax Senior Associates Albertson Otchengco, Verlin Entena, Maria Clara David, and John Marti Duya, and Associate Zharina Matito.

Financial Services Organization (FSO) Consulting Partner and Government and Public Sector Leader Christian G. Lauron (CGL), Senior Director Anchor Asistin and Director Aeron Ramos were resource speakers at an online seminar on Model Risk Management and Fairness and Bias in Algorithms. Hosted by the Bankers Institute of the Philippines Inc. (BAIPhil), the webinar was attended by around 50 bank chief risk officers, chief audit executives, model development and validation specialists, auditors, data scientists and analytics officers from BAIPhil member institutions. FSO Consulting Partner Francisco A. Lumbres (FAL) and Senior Director Janice Joy Agati also attended the event. The session focused on the Model Risk Management (MRM) framework and its developments and implications for financial institutions. The resource speakers discussed strategies and approaches that financial institutions can implement for the adoption and enhancement of MRM in their operations, emphasizing the impact of evolving regulatory expectations, availability of big data and new and complex methodologies. They also presented different MRM case studies and shared bias and fairness algorithms, AI governance frameworks, and updates on local regulatory policy direction. The session was followed by an open forum where the speakers addressed participants’ questions. The webinar’s organizing team included FSO Consulting Senior Associate Maureen Bautista and Associates David Rodriguez, Sheena Chua, and Patricia Bernadas.

SGV Consulting People Advisory Services (PAS) Associate Principal Lisa Marie Escaler was a panelist at the 3rd Annual ASEAN HR Virtual Summit held last 22-23 April. The two-day virtual event gathered business leaders, global entrepreneurs and corporate executives to discuss industry trends and practices, challenges of in-house corporate HR, and expanding HR business partnership roles. The summit also highlighted the latest technologies that affect the work and lives of employees. Lisa, along with two co-panelists, discussed the dynamic HR environment transformed by emerging technologies. They emphasized that the biggest problem with today’s digital employee experience is the inability to fully utilize technology due to insufficient adoption, training and engagement. Lisa shared that “the rise in technological innovations have elevated expectations for all individuals. We know that employees want the same digital experience at work as they have in other aspects of their lives and they want to be able to seamlessly transition from one technology to the next. To ensure a consistent and satisfying user experience, employers will need to place humans@center as they consider which technologies to invest in, adopt and embed within their organizations.”

Strategy and Transactions Partner Marie Stephanie Tan-Hamed (MTH) was among the speakers at the Philippine Association of Realty Appraisers, Inc. (PARA) webinar series titled Expanding the Valuation/Appraisal Horizon last 17 April. With the theme Tomorrow’s Real Estate Today, the speakers shared insights on topics relevant to the future of the real estate sector such as Philippine property market updates, property measurement standards, green building and sustainable design, and amending the Anti-Money Laundering Act. MTH led a session on Fair Value – Valuation for Financial Reporting and provided an overview of valuation concepts, appraisal methods, as well as the latest developments in Philippine Financial Reporting Standards (PFRS) on Fair Value Measurement. She then shared insights on how appraisers can properly issue fair value measurements in compliance with PFRS and the requirements on financial statement disclosures.

The Philippine Franchise Association (PFA) conducted a webinar titled Impact of CREATE to Franchising Businesses on 23 April. PFA Deputy Executive Director Jake Santos hosted the event and PFA Director for Education Alan Escalona welcomed over 80 participants from PFA member companies to the webinar. Tax Partner Cheryl C. Ong (CCO) discussed the salient features of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and its corporate tax adjustments. She covered the proposed rationalization of fiscal incentives and other provisions. Afterward, she shared insights on the next steps participants can consider to maximize the incentives under the Act.   The session was followed by a Q&A portion led by CCO and Tax Senior Director Karen Mae Calam-Ibañez. PFA President Sherill Quintana delivered the closing remarks and briefly discussed the value of learning more about how the Act can help franchisers and their businesses manage the challenges of the pandemic. The SGV organizing team was led by EY Private Partner Kristopher S. Catalan, Tax Partner Cheryl Edeline C. Ong, and Senior Directors Felinor G. Pascua and Karen Mae L. Calam.

Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi (VAB) conducted Session 3 of the Capital Markets and Fixed Income Securities Course for the Financial Executives Institute of the Philippines (FINEX) Academy on 12 April. Over 60 sales, finance, compliance and legal professionals participated in the webinar. Some attended to expand their professional development and others to prepare for their SEC certification exam. VAB discussed the basic concepts of Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF). She provided an overview of global regulators and updates on local AML/CTF regulations, such as the amendments on certain provisions of the 2018 Implementing Rules and Regulations (IRR) of Republic Act No. 9160, as Amended. She then explained the preventive measures of covered persons/institutions for capital markets and the fixed income securities industry. FSO Associate Lindza Julao facilitated quick knowledge checks after every unit where participants reviewed their learning progress through short quizzes on the concepts discussed.

As part of International Women’s Day (IWD), SGV held a series of firmwide activities and social media campaigns to recognize the contributions and achievements of all women in the workplace.  Talent team organizes photo contest and forum SGV’s Talent team held the She’s my hero photo contest to recognize the women who have greatly influenced the lives of SGVeans. Participants posted photos of women who have had a positive impact and influence on their lives. The team also organized a forum titled She’s Taking the Lead last 12 March with Ms. Chaye Cabal-Revilla, Chief Finance Officer and Chief Sustainability Officer of Metro Pacific Investments Corporation, as guest speaker. SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) welcomed participants to the webinar and briefly discussed how the pandemic has impacted women who need to balance work and family duties, citing the results of the UN Women study report. He then encouraged participants to develop solutions to better support women in the workplace. Ms. Chaye shared stories about her career journey and her experiences as a wife and mother. She explained how she overcame various challenges she faced through the support of other women, highlighting the mentorship she received from SGV Alumna Partner, the late Amelia B. Cabal (ABC). She also discussed how she turned the unique challenges brought by the pandemic into opportunities to bond with her family and champion sustainability for future generations through various projects. SGV Talent Leader Julie O. Mateo (JOM) delivered the closing remarks and thanked participants for supporting the Firm’s IWD initiatives, highlighting how women empowerment and diversity and inclusiveness have always been a part of SGV’s culture. Consulting hosts 2nd She Inspires webinar SGV’s Consulting and Talent teams also organized a forum on Claiming Our Seat at the Table last 26 March. The forum was part of the She Inspires webinar series where women leaders share their experiences as female professionals and the valuable lessons they have learned over the years. The guest speaker was Ms. Ma. Aurora “Boots” Geotina-Garcia (AGG), SGV Alumna Partner and Chairperson of Philippine Women’s Economic Network (PhilWEN) and Co-Chairperson of The Philippine Business Coalition for Women Empowerment (PBCWE). AGG discussed the various obstacles that women face in the workplace and provided tips on how women leaders can claim their seat at the table through grit and determination. Emphasizing the importance of having women in key decision-making roles, she explained how gender equality can benefit organizations, businesses and the economy. She also spoke on her experiences in the Firm and shared how her mentors supported her professional development, regardless of her gender. The forum’s organizing team included Consulting Leader Rossana A. Fajardo and Consulting Partners Maria Kathrina S. Macaisa-Peña and Leonardo J. Matignas, Jr. and Associate Director Carol Formilleza. WPT, Tax Principal Margarita D. Mallari-Acaban and Consulting Partner Carlo G. Dimarucut also participated in the session. SGV & Co. is a Founding Member of the PBCWE and is the first Philippine multidisciplinary professional services firm to receive EDGE (Economic Dividends for Gender Equality) certification, a leading global assessment methodology and business certification standard for gender equality.

SGV Strategy and Transactions (SaT) Leader Noel P. Rabaja (NPR) was among the panelists at the EY Global Capital Confidence Barometer – ASEAN virtual media briefing on 7 April. Reporters, writers and media personalities from across ASEAN attended the briefing, which discussed the results of the 23rd EY Global Capital Confidence Barometer, a survey that explores corporate confidence in the economic outlook, identifies boardroom trends and practices in the way companies manage their Capital Agenda, and examines how companies can future-proof their businesses. The survey respondents included an independent panel of senior executives and leaders of the world’s biggest and fastest-growing companies. EY ASEAN SaT Leader Vikram Chakravarty presented the survey’s key findings in Southeast Asia (SEA), the region’s macroeconomic environment and M&A outlook, and the trends and strategic considerations driving business transformation. NPR explained that some companies in the Philippines plan or have already started to pursue M&A opportunities, emphasizing the survey’s findings on the most acquisitive sectors in the Philippines and the growing interest in the technology and consumer goods sectors. He also discussed how the pandemic has forced companies to rethink their business models and drive digital transformation in their organizations. Other panelists, EY Indonesia SaT Leader David Rimbo, EY Malaysia SaT Partner Preman Menon, EY ASEAN M&A Leader Luke Pais and EY Indochina SaT Leader Du Vinh Tran, discussed the primary drivers of economic activity in their respective markets.

The Nordic Chamber of Commerce (NordCham), in partnership with Advantage Austria, the Dutch Chamber of Commerce in the Philippines (DCCP), the Australian-New Zealand Chamber of Commerce Philippines (ANZCham) and La Camara, organized a tax webinar last 16 March. NordCham Executive Director Jesper Svenningsen welcomed over 80 participants from member companies of the NordCham, Advantage Austria, DCCP, ANZCham, and La Camara to the webinar. SGV Tax Leader Fabian K. Delos Santos (FKS) and Tax Partner Cheryl C. Ong (CCO) led a discussion on the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, its proposed adjustments in corporate tax and rationalization of fiscal incentives. Emphasizing its possible impact on businesses, they shared insights on how businesses can prepare for and maximize the incentives of the proposed tax reforms. Tax Partner Romulo S. Danao, Jr. (RSD) then discussed the recently issued Transfer Pricing regulations. He spoke on the submission of the Information Return on Related Party Transactions and Transfer Pricing Documentation. He also gave tips on how concerned taxpayers can comply with the simplified requirement. Tax Partner Hentje Leo L. Leaño (LLL) presented recent BIR tax updates on Net Operating Loss Carry-over in relation to the Bayanihan to Recover as One Act, Inventory Destruction, Voluntary Assessment and Payment Program (VAPP), and other BIR updates. The sessions were followed by an open forum, facilitated by Mr. Svenningsen, where SGV Partners addressed participants’ questions.

SGV Tax Principal Veronica A. Santos (VAS) was among the speakers at the 2nd LNG & Clean Energy Investment Summit (LCES 2021) on 23 March. The LCES 2021 welcomed over 200 executives and professionals from the energy industry who discussed the expansion of the liquefied natural gas (LNG) and clean energy industries in the Philippines and how to integrate technological, environmental and economic developments into the LNG and clean energy markets toward profitability and growth. VAS led a session on LNG Projects’ Tax Considerations. She explained the taxation for the Upstream Sector, which includes service contractors and sub-contractors of service contractors, and for the Downstream Sector, which includes FSRU contractors, operators of a natural gas facility, contractors for the construction of LNG terminals, pipelines, and transmission/distribution-related facilities.