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CCaSS Associate Director hosts ECCP webinar

15 April 2021

Climate Change and Sustainability Services (CCaSS) Associate Director Diana Rose Sadili hosted the Paving the Road Ahead: SDGs and the Philippines webinar on 18 March. Organized by the European Chamber of Commerce of the Philippines (ECCP), the session featured United Nations Development Programme in the Philippines (UNDP) Deputy Resident Representative Enrico Gaveglia who shared updates on the progress of the Philippines’ attainment of the Sustainable Development Goals (SDGs). He also discussed the potential areas of collaboration between the UNDP and the private sector, particularly with ECCP member companies. Mr. Gaveglia emphasized that achieving the SDGs requires the commitment of both the government and the community. The webinar also marked the launch of the ECCP's first-ever 2021 Europa Awards and Call for Nominations which aims to recognize companies with exceptional performance and contributions in promoting sustainability in line with global standards, the Paris Agreement on Climate Change and the Philippine Development Plan. SGV is the independent tabulator and technical adviser of the program’s scoring framework. To know more about the ECCP 2021 Europa Awards, visit www.eccp.com/2021-europa-awards or email advocacy@eccp.com.

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JBS hosts webinar for Japanese clients

15 April 2021

SGV’s Japan Business Services (JBS) team conducted a webinar on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act for the Firm’s Japanese clients last 30 March. SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz (VCR) welcomed nearly 200 executives from various Japanese companies operating in the Philippines. The webinar was spearheaded by JBS Co-Heads Michael C. Sabado (MCS) for Assurance and Jonald R. Vergara (JRV) for Tax. JBS Executives Kazuma Nakagomi, Hiroshi Nakagawa, and Yohko Tsuge conducted the webinar in Japanese and provided a general overview of the new comprehensive tax reform package and the available incentives. They also discussed the related tax issues relevant to Japanese investors. Tax Leader Fabian K. Delos Santos (FKS) delivered the closing remarks and JRV led the Q&A portion. Tax Partner Margaux A. Advincula (MAA), Tax Senior Director Cecille Visto and JBS Assistant Jocelyn Mercado were part of the webinar’s organizing team.

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Tax team conducts public webinar

15 April 2021

The Tax team organized a public webinar on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act last 30 March. Tax Principal Jules E. Riego welcomed over 1,000 participants from the banking, hotel, manufacturing, real estate, power and utilities, BPO, and insurance industries. Tax Leader Fabian K. Delos Santos (FKS) led the discussion on the objectives and salient features of the CREATE Act. He explained the Act’s adjustments in corporate income tax, exchange of property and VAT exempt transactions. Tax Partner Cheryl C. Ong (CCO) then discussed the rationalization of fiscal incentives, highlighting the expanded functions of the Fiscal Incentives Review Board (FIRB) and the qualifications for tax incentives. She also shared tips on how companies can maximize the incentives under the Act. The discussions were followed by an open forum where FKS, CCO and Tax Partner Thyrza F. Marbas (TFM) addressed participants’ questions. Tax Senior Associate Maria Crisanta Esgana moderated the webinar. The organizing team included Tax Senior Director Karen Mae Calam-Ibañez, Managers Virnee Joy Agot-Ting and Aiza Giltendez, and Senior Associates Gabriellen Quijada-Tabuñag and Wennonah Marie Garces.

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SGV Clark and CILA organize tax webinar

15 April 2021

SGV Clark Tax Partners Hentje Leo L. Leaño (LLL) and Margaux A. Advincula (MAA) were among the speakers at a tax webinar titled Enrolled CREATE Bill: What’s new and what has changed? last 11 March. The webinar was co-organized by the Clark Investors and Locators Association (CILA). CILA Chairman Dr. Ireneo Alvaro, Jr. welcomed over 300 representatives from CILA member companies to the event. SGV Clark Head Jose Pepito E. Zabat (JEZ) then introduced LLL and MAA who discussed the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. They covered the Act’s adjustments in corporate tax, other taxes and the rationalization of fiscal incentives. They then spoke on how the proposed tax reforms may affect CILA member companies and shared insights on how businesses can prepare for and maximize the incentives of the proposed tax reforms. The webinar concluded with an open forum led by the speakers and CILA Advocacy Committee Chairperson and Former President Dr. Francisco L. Villanueva, Jr. Tax Associate Director Michael Ray Lapasaran moderated the event.

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CCO leads FINEX-Cebu Tax webinar

15 April 2021

SGV’s Tax team held a webinar in cooperation with the Financial Executives Institute of Cebu, Inc. (FINEX-Cebu) titled CREATE bill: Tax Laws and Incentives reCREATEd. FINEX Director for Professional Development Benedict Que welcomed over 70 finance professionals to the webinar. FINEX-Cebu Vice President and Board Member John Michael Lava then introduced Tax Partner Cheryl C. Ong (CCO) as the resource speaker. CCO covered the key aspects of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, particularly the adjustments in corporate tax and other taxes, and rationalization of fiscal incentives. She then discussed its other provisions such as job generation performance commitments and the implementing rules and regulations of the Department of Finance. She also shared actions that organizations can consider to maximize the incentives under the Act. FINEX Cebu President Neil Arnold Montesclaros delivered the closing remarks.

News

MCCI webinar features Tax team

15 April 2021

The Malaysia Chamber of Commerce and Industries Philippines, Inc. (MCCI) conducted a webinar titled A Closer Look at CREATE: Its Salient Provisions and Impact on Businesses last 30 March. MCCI President and Chairman Edward Ling delivered the opening remarks and discussed the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act’s impact on local businesses. Participants from different industries and institutions attended the webinar, including SGV Clark Head Jose Pepito E. Zabat (JEZ), SGV Tax Partner Sonia D. Segovia (SDS), and Commercial Attaché of the Philippine Trade & Investment Center in Kuala Lumpur and Officer-in-charge of the Philippine Trade & Investment Center in Singapore Katrina Banzon. SGV Tax Senior Director Don Don Mojica moderated the webinar. SGV Tax Partners Hentje Leo L. Leaño (LLL) and Margaux A. Advincula (MAA) provided an overview of the Act’s salient provisions, particularly the adjustments in corporate tax and other taxes, the rationalization of fiscal incentives, and its effects on businesses in the Philippines. The webinar concluded with an open forum led by LLL and MAA.

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SGV leaders inducted as MAP members

29 March 2021

SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz (VCR), Consulting Leader Rossana A. Fajardo (RAF) and ASEAN Risk Management Leader and Consulting Partner Leonardo J. Matignas, Jr. (LJM) were inducted as members of the Management Association of the Philippines (MAP) during the MAP General Membership Meeting. MAP President Aurelio "Gigi" Montinola III delivered the welcome remarks and MAP Membership Committee Chair Francis ED. Lim presented the new members to be inducted. During the oathtaking ceremony, VCR, RAF and LJM pledged to support the MAP’s mission of promoting management excellence for nation building.

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JPIA webinars feature RAF

29 March 2021

SGV Consulting Leader and EY ASEAN Business Consulting Leader Rossana A. Fajardo (RAF) was invited to present at the National Federation of Junior Philippine Institute of Accountants (NFJPIA) Region 6 Regional Mid-Year Convention and the University of the Philippines-JPIA Planning Seminar: Beyond Numbers Leadership Program last February. Both events welcomed accounting students from various schools and universities. RAF discussed the importance of a Purpose-led career, sharing anecdotes about her experiences at SGV. She then shared her insights about the essential qualities of a global leader, emphasizing the value of hard work, passion and integrity. She also provided tips on how students can become future leaders in their chosen careers by reflecting on their aspirations and searching for their Purpose.

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CCaSS Team speaks at Sustain-a-buzz

29 March 2021

Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) and Senior Associate Yna Altea Antipala were guest speakers at an episode of Sustain-a-buzz where they talked about the sustainability reporting landscape in the Philippines. They provided an overview of the Firm’s CCaSS practice and discussed how the CCaSS team helps companies with their sustainability reporting. Emphasizing the value of sustainability reporting compliance, BNV explained that regulators and investors do not only evaluate companies based on their financial reporting but on their Environmental, Social, and Governance (ESG) efforts as well. They also shared an overview of the CCaSS report titled Beyond the Bottom Line: Sustainability Reporting in the Philippines which offers a perspective on sustainability and non-financial reporting in the country. Sustain-a-buzz is a weekly online talk show hosted by Mai Baticulon and Marx Astudillo that features sustainability professionals as they share their views on global sustainability. The program is part of an initiative of SustainablePH, a non-profit volunteer organization that promotes sustainability in the country. To watch the episode, please visit https://youtu.be/H6QrQegF_VQ.

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VCD main speaker at MCCI webinar

29 March 2021

The Mandaue Chamber of Commerce & Industry (MCCI) organized a webinar titled How to Handle Customs Audit with Tax Principal Victor C. de Dios (VCD) on 10 March. MCCI President Steven Yu delivered the opening remarks and welcomed participants composed of exporters and importers from the retail, logistics and construction industries. MCCI VP of Internal Affairs Kelie Ko then introduced VCD who began his presentation on Post-Clearance Audit (PCA) and the PCA provisions of the Customs Modernization and Tariff Act (CMTA) and the Customs Administrative Order (CAO) No. 1-2019. Afterward, he spoke on the implementation of the Prior Disclosure Program and shared practical tips on how to manage a customs audit. The webinar concluded with an open forum where VCD addressed participants’ questions.

CCaSS Associate Director hosts ECCP webinar

JBS hosts webinar for Japanese clients

Tax team conducts public webinar

SGV Clark and CILA organize tax webinar

CCO leads FINEX-Cebu Tax webinar

MCCI webinar features Tax team

SGV leaders inducted as MAP members

JPIA webinars feature RAF

CCaSS Team speaks at Sustain-a-buzz

VCD main speaker at MCCI webinar

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