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Consulting Principal Philip B. Casanova (PBC) was a panelist at the BusinessWorld Insights webinar last December. With the theme, Safe Banking: Data Security on Online Payment Services, the webinar discussed addressing security issues in digital finance and consumer tips for safe online transactions. Other panelists included representatives from financial services and cybersecurity companies. The panelists spoke on how the pandemic caused a surge in digital transactions and the rise in cybersecurity attacks and breaches. PBC explained that financial institutions must maintain consumer trust while providing convenience and better service and security. He also emphasized that financial institutions should not only view cybersecurity as a technical issue but as an organizational issue that involves all stakeholders – employees, customers, and platform providers.

SGV Tax Partner Saha A. Bulagsak (SAB) led a webinar titled Recent Developments in Taxation on 18 December hosted by the Philippine Institute of Certified Public Accountants (PICPA) Davao Chapter. SGV Davao Partner-in-charge and Assurance Partner Jose Raoul Balisalisa welcomed participants to the event and Tax Manager Abegaile Marie Gamale moderated the session. SAB discussed recent BIR issuances, particularly updates on income tax, withholding tax and value-added tax. She then provided an overview on the new BIR requirements for taxpayers with related-party transactions and updates on taxpayer rights and remedies, including the Voluntary Assessment and Payment Program (VAPP) for 2018. She also shared insights on the salient features of the Bayanihan to Recover as One Act, the CREATE bill and the government’s 2020 Investment Priorities Plan. The webinar concluded with an open forum where SAB addressed participant questions. PICPA Davao Chapter Vice President Cedric Ian Carlo Petalcorin delivered the closing remarks.

SGV Consulting Partner Allan W. Ocho (AWO), the Project iTeach Team and the SGV Talent Team conducted the first virtual Faculty Immersion Program with faculty and staff from the Holy Angel University (HAU) last 17-18 December. The two-day program is part of the Firm’s Talent initiative to support the faculty members of participating schools and universities and help bridge the gap between classroom concepts and industry practice. Talent Leader and Assurance Partner Julie O. Mateo delivered the welcome remarks. Members of the iTeach Team then discussed current IT trends in accounting and auditing, IT audit in relation to financial statement audit, IT governance and IT management, and managing information technology. Over 20 HAU faculty and staff attended the program, including HAU School of Business and Accountancy Dean Dr. Maria Lina Ramoneda, Associate Dean Albert Morales and Program Chairperson Sandra Brucal. The members of the event’s organizing team were Consulting Managers Jessa Coronado and Kristian Reyes, Senior Associate Marigin Fidel, and Associates Ambreen Qamar and Ralph Crimuel Roxas; and Talent Manager Julie Ann Rubia, and Associates Mariane Kristine Riano and Angelou Ma. Remo.

The Philippine Institute of Certified Public Accountants Southern Metro Manila Chapter (PICPA SMMC), in partnership with the PICPA Northern Metro Manila Chapter (NMMC) and the National Federation of Junior Philippine Institute of Accountants (NFJPIA) NCR South and North Districts, organized a virtual office tour titled TRAVERSE: Unveiling Your Workplace. The event oriented incoming CPA licensure examinees on the possible firms they may join when entering the workforce. SGV Tax Partner and PICPA SMMC President Maricris U. See (MUS) welcomed over 380 students from 25 local chapters to the event. She encouraged them to choose a workplace that will not only provide a stable income, but a nurturing environment where their careers may thrive. She also emphasized that they should consider the company’s values, purpose and positive impact on society. Talent Supervising Associate Julia-Anne Deypalan and Talent Associate Camille Joyce Pascual provided an overview of SGV, its service lines, careers and possible career paths. They discussed the Firm’s workplace environment and culture, emphasizing our Purpose and core values of integrity, excellence and leadership. Consulting Associate Director Mark Andrew Chiu then talked about his SGV story, sharing how his team was able to assist clients in improving their processes and automation. He shared how he was able to pursue further studies and certifications with the Firm’s support. He also explained the various activities and corporate responsibility programs of SGV.   Consulting Partner and advisor to NFJPIA Conrad Alviz and Tax Senior Director Earvin Darren Lee also attended the event. The session concluded with an open forum where speakers addressed participant questions on the Firm’s hiring process and how the COVID-19 pandemic has affected work and internship opportunities.

SGV Partners raise a toast to Itos SGV Partners honored retiring former Chairman and Country Managing Partner (CMP) J. Carlitos G. Cruz (JGC) on 11 December with a program that was webcast from the SGV Development Center. Some of SGV’s leadership and partners who were part of the organizing committee 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.  Chairman and CMP Wilson P. Tan (WPT) delivered the opening remarks and commended JGC’s valuable contributions to the Firm that have enhanced our services, empowered our professionals, and developed the accounting profession The first part of the program featured video messages from JGC’s clients, colleagues, former staff and teammates, and family, including several SGV Alumni Partners. They shared how he embodied the different Partner Personas – one who demonstrates integrity and the enthusiasm and courage to lead; delivers exceptional client service; exhibits team leadership; and possesses an entrepreneurial mindset.   JGC then expressed his gratitude to all those who became a significant part of his SGV journey. He also shared his thoughts on the mindset needed for SGV’s continued success, emphasizing the value of long-term growth, continuous training, agility and teaming, and staying connected with the Firm’s stakeholders.  The program also featured video presentations from the SGV Glee Club and the SGV Dance Company. Volunteer dancers from Market Group 4 and our Cebu, Davao and Clark branches also prepared a special video dance performance featuring facility improvements in SGV offices nationwide – which formed part of JGC’s legacy.   This was followed by a virtual after-party hosted by Assurance Partner Raoul Balisalisa. Participants played online trivia games about JGC and listened to more messages from active partners, EY colleagues, his former staff turned clients and friends, and Association of Certified Public Accountants in Public Practice (ACPAPP) members.   In honor of his 39 years of service to the Firm, JGC was presented with a token of appreciation, a sculpture titled Gratitude. It depicts a man amid three deeply-rooted trees whose crowns are fused as one. The trees symbolize SGV and represent the growth of our people, our clients and our country.   We wish you all the best, JGC. 

Tax organizes CREATE webinar  SGV’s Tax Team held a webinar last 14 December on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, as approved on the 3rd and final reading by the Senate. Chairman and CMP Wilson Tan delivered the opening remarks and welcomed over 1,300 participants from the banking, hotel, manufacturing, real estate, power, BPO and insurance industries, among others.   Speakers and members of the webinar’s organizing team  Tax Leader Fame K. delos Santos (FKS) and Tax Partner Cheryl C. Ong (CCO) discussed the bill’s salient features, developments and incentives in corporate income tax. They also provided insights on how companies can maximize and prepare for the proposed tax reforms. Tax Principal Lucil Vicerra also discussed Customs Audit Reminders, including VAT incentives and Performance Commitments.   The webinar concluded with a question and answer portion led by FKS and CCO, who were assisted by Tax Partner Thyrza Marbas. Tax Senior Manager Betheena Dizon hosted the session. The webinar’s organizing team included Tax Senior Manager Karen Mae Calam; Manager Aiza Giltendez; and Senior Associates Wennonah Marie Garces, Kyle Almero, and Ma. Gabriellen Quijada. 

LLC joins panel at PICPA Ethics & Leadership Summit  SGV Risk Management Leader and Professional Practice Director and PICPA Ethics Committee Chair Lucy L. Chan (LLC) was one of the panelists at the keynote session of the Ethics & Leadership Summit of the Metro Manila Region and the Eastern Metro Manila Chapter of the Philippine Institute of Certified Public Accountants (PICPA) held last 10-11 December. With the theme Traversing the New Landscape with Stronger Ethical and Leadership Foundation, the summit featured sessions on ethics and leadership in the accountancy profession in light of emerging developments.     Title slide of LLC’s presentation as a panelist at the PICPA Summit  Following the keynote presentation on Walk the Talk: Operationalizing the Ethical Requirements under the IFAC Code of Ethics for Professional Accountants by incoming Deputy Chairman of the International Ethics Standards Board for Accountants (IESBA) Caroline Lee, LLC discussed challenges faced by professional accountants due to the pandemic and other developments, namely, meeting targets during an economic downturn, adapting to remote work, keeping up with the pace of digitization, and creating new sustainable business models. She then discussed measures for addressing these issues and shared insights on how leaders can uphold a culture of integrity within their organizations in the current environment.   LLC’s and other panelists’ presentations were followed by an interactive session with the keynote speaker, the panelists, and other participants at the summit. 

PAS holds Tax webinar   The People Advisory Services (PAS) Team conducted a webinar on individual income tax annualization and recent tax and immigration developments last 1 December. Tax Leader Fame delos Santos welcomed over 470 participants to the webinar, including finance, HR and payroll executives.   Speakers at the PAS webinar  Speakers at the webinar were PAS Partner Czarina Miranda; Executive Director Josephine Adalem; Senior Directors Elena Manuel, Jocelyn Magaway and Marlynda Masangcay; and Director Maria Kathrynna Chavez. They discussed recent developments in individual taxation and immigration based on recent laws, BIR regulations and court decisions. They also provided an overview on performing year-end income tax adjustments, and shared insights on individual compliance for disclosure of related-party transactions, taxation of individuals during the COVID-19 pandemic, tax treaty relief application, and tax incentives for individuals under the Bayanihan to Recover as One Act.

Kudos to our new CMPCs!  SGV Partners Clairma Mangangey, Julie Ong-Mateo and Conrad Alviz, and Talent Associate Director Luisa Hebron recently completed the first EY ASEAN Coaching Program and are now Certified Master Performance Coaches (CMPCs).   They will be taking an active role in furthering our Purpose, supporting ASEAN coaching initiatives, improving our ability to have better conversations and enhancing the development of transformative leaders. The certification is part of the International Coaching Federation (ICF) Accredited Coach Training Program and aims to build a pool of certified coaches to support ASEAN coaching initiatives.   Congratulations, everyone! 

RSD speaks at APFEI webinar  Tax Partner and International Tax and Transaction Services Country Leader Romulo S. Danao, Jr. (RSD) led a session titled Transfer Pricing - New BIR Requirements for Taxpayers with Related Party Transactions for the Association of Pharma Financial Executives Inc. (APFEI) on 26 November.   RSD presenting at the APFEI webinar  RSD began the session with an overview of transfer pricing and briefly reviewed the transfer pricing regulations issued in 2013 and transfer pricing audit guidelines issued in 2019. He then discussed the salient features of the new Revenue Regulations No. 19-2020, as recently clarified by Revenue Memorandum Circular Nos. 76-2020 and 98-2020, which require the submission of BIR Form No. 1709. He concluded the session with insights on how concerned taxpayers, particularly companies engaged in the pharmaceutical industry, can comply with the new requirements.