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SGV Davao Partner-In-Charge Jose Raoul J. Balisalisa (JJB) and Tax Partners Thyrza F. Marbas (TFM) and Saha A. Bulagsak (SAB) led a webinar titled Mindanao Talks: Updates on Tax and BIR Audits on 15 March for members of the European Chamber of Commerce of the Philippines (ECCP) Mindanao. TFM discussed the BIR audit program and explained how the new rulings will impact the audit process during the pandemic. SAB then provided updates on recent BIR developments and issuances, including salient features of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill. The session concluded with a Q&A portion moderated by JJB.

SGV Davao held a webinar titled Handling BIR Audit and Tax Updates for the locators of Anflo Industrial Estate in Panabo City and Damosa IT Park last 12 March. Damosa Land President Ricardo Lagdameo and SGV Davao Partner-in-Charge Jose Raoul J. Balisalisa (JJB) welcomed over 30 participants to the webinar. Tax Partner Thyrza F. Marbas (TFM) discussed the tax audit process and taxpayers’ rights and remedies to BIR assessments. She also shared tips on how participants can effectively handle a BIR audit. Tax Partner Saha P. Adlawan-Bulagsak (SAB) then talked about recent developments in taxation, including the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill. Tax Associate Jan Joy Zamora moderated the open forum.

The Philippine Multimodal and Transport and Logistics Association Inc. (PMTLAI) held a webinar last 17 March on the BIR’s simplified requirements for VAT refund and Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill updates. Over 65 finance professionals from the logistics industry participated in the event which was co-organized by SGV’s Logistics Sector Team and Tax Partner Cheryl Edeline C. Ong (CCO). SGV Tax Senior Director Anne Margaret Momongan opened the discussion on the new and simplified requirements for the VAT refund application of taxpayers. She also provided insights on how to handle the VAT refund process. Tax Senior Director Don Don Mojica then discussed the line-by-line requirements of the VAT refund checklist, highlighting the changes brought about by the recent regulations. CCO led a session on the proposed changes in Philippine taxation due to the most recent version of the CREATE bill. She explained how the bill may affect businesses and other companies availing themselves of fiscal incentives.

SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) was one of the panelists at a tax webinar hosted by the Tax Management Association of the Philippines (TMAP) last 18 February. WPT and other panelists discussed the implications, implementation, and industry issues of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill. As a member of the Association of Certified Public Accountants in Public Practice (ACPAPP), WPT represented the organization and discussed the financial reporting considerations and implications of the bill, particularly on the proposed retroactive adjustments in corporate income tax rate. WPT, who is the Chairman of the Philippine Interpretations Committee (PIC), also covered the salient provisions of a new guidance recently issued by the PIC on the financial reporting implications of the CREATE bill and its anticipated passage into a law.

Tax Principal Jules E. Riego (JER) was a speaker at a webinar hosted by Security Bank’s Trust and Asset Management Group on 23 February. Over 75 participants joined the event where JER and Security Bank Trust and Asset Management Group Sales and Client Acquisition Head Carmela Lim discussed how participants can enhance their estate and wealth planning by establishing a Personal Management Trust. JER shared insights on how the COVID-19 pandemic has shifted people’s perspectives on wealth planning, sharing that most now prefer to plan early. He also provided tips on how participants can plan their estate and grow their wealth for retirement and ensure fairness among receiving family members. Ms. Lim then encouraged participants to appoint a trustee who will serve as the non-partisan holder of an estate, emphasizing that this will help better protect their assets and reduce conflicts among family members.

Tax Partner Cheryl C. Ong (CCO) was a speaker at a business briefing on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill hosted by the Canadian Chamber of Commerce of the Philippines (CanCham) last 18 February. CanCham Membership Coordinator Abi Tizon welcomed participants to the briefing and CanCham President and CEO Julian Payne delivered the opening remarks. CCO discussed the bill’s salient provisions and proposed adjustments in corporate income tax and fiscal incentives as ratified by the bicameral conference committee. She also provided insights on how participants can maximize the incentives under the bill. Her presentation was followed by a panel discussion with executives from a law office and a professional services firm. They discussed how the CREATE bill will benefit small and medium-sized enterprises, large companies, and local government units outside the National Capital Region and metropolitan areas. They also explained the bill’s immediate impact on the economy and businesses.

SGV Talent Associate Director Luisa Hebron was among the speakers at the #ForwardThinkingFlex: Making Flexible Work, Work webinar hosted by the Philippine Business Coalition for Women Empowerment (PBCWE), the Philippine Women’s Economic Network (PhilWEN), the Management Association of the Philippines (MAP), and Investing in Women (IW) last 16 February. Other speakers included human resources executives and managers from government agencies and business organizations. They discussed the value of a Flexible Work Arrangement (FWA) in promoting workplace gender equality and diversity & inclusion. They also identified practical recommendations to help companies develop sustainable and effective FWA policies and practices. Luisa began her presentation with an overview of SGV’s commitment to diversity & inclusion, sustainability, and people development. She shared how the Firm has embraced the concept that the ability to work flexibly is a key differentiator for recruitment and critical to employee retention, productivity and engagement. She then explained how the Firm’s FWA policies are aligned with our Purpose and diversity & inclusion goals. Luisa also provided tips on how participants can build a culture of flexibility in their own organizations. The webinar is the fifth installment of the PBCWE’s #WEECanDoIT​ webinar series. To watch the webinar, please visit https://tinyurl.com/LAHebronPBCWE. SGV is a Founding Member of the PBCWE. The Firm received its EDGE Certification in August 2018, making it the first multidisciplinary professional services firm in the Philippines to receive this certification for meeting the EDGE standards for gender equality. EDGE stands for Economic Dividends for Gender Equality.

SGV’s Tax Team conducted a public webinar titled Thrive amidst a BIR audit: a survival guide on 26 February. Speakers discussed the latest BIR enforcement strategies and recent issuances, rulings and court decisions involving tax audit issues. Over 300 tax and financial executives from various industries attended the event. Tax Partner Thyrza F. Marbas (TFM) discussed the technicalities of the BIR audit program, including the taxpayers covered by the program and the revised BIR organizational structure and the BIR’s primary jurisdiction. She also explained the tax assessment procedure and the applicable BIR issuances. Tax Partner Cheryl C. Ong (CCO) then discussed common tax issues and presented a comparison of BIR-related documents and specific tax assessment items. The discussions were followed by a Q&A portion led by CCO and TFM. The webinar’s organizing team included Tax Managers Virnee Joy Agot and Aiza Giltendez, and Senior Associates Crisanta Esgana and Monica Marie Miciano.

Assurance and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) moderated a webinar titled Exploring Environmental, Social, and Governance (ESG) Trends in the APAC Region hosted by the European Chamber of Commerce of the Philippines (ECCP) and Vigeo Eiris (V.E.) last 17 February. The session featured presentations from V.E. Executive Director Juliette Macresy and Securities and Exchange Commission Commissioner Kelvin Lee. They discussed the key drivers, risks and opportunities, and regulatory developments in ESG investing. They also shared observations on developing ESG trends in the APAC region.

Assurance and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) was among the speakers at the Junior Philippine Institute of Accountants – San Beda University (JPIA-SBU) Crossroads: A Look in Our Career Paths virtual career talk last 30 January. Over 180 SBU students participated in the event. As an alumnus of SBU, BNV spoke about his university experiences and how they shaped his professional development. He shared tips on how participants can advance their careers, encouraging them to leverage on technologies such as artificial intelligence, automation and blockchain. He also emphasized the value of teamwork and strengthening professional relationships for successful client engagements. BNV likewise discussed sustainability for ESG considerations and its significance in business continuity and resilience. He explained that companies today are not just evaluated based on financial metrics as regulators also measure their impact through an ESG lens. The session concluded with an open forum where BNV addressed questions on his career journey, the qualities of SGV professionals, and how the COVID-19 pandemic has affected the Firm and its people. Talent Supervising Associate Julia-Anne Deypalan and Talent Associates Camille Joyce Pascual and Juliene Marinela Salayon also attended the event.