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PICPA organizes business resiliency and tax webinars  The Philippine Institute of Certified Public Accountants Metro Manila Region (PICPA MMR) and the PICPA Western Metro Manila Chapter (PICPA WMMC) conducted a seminar titled “Physical Return and Work Reimagined” on 6 May. Board of Accountancy Chairman Noe G. Quiñanola welcomed over 400 participants to the briefing. The webinar featured speakers SGV Partner and Advisory Leader Rossana A. Fajardo (RAF) and KSM. SGV Assurance Partner and former PICPA WMMC President Marydith C. Miguel (MCM) also moderated the session. They discussed the risks and challenges that businesses and their people face as well as the opportunities they can leverage on to achieve new energy, vision and resilience during the pandemic. They explained the areas that organizations need to focus on when facilitating the recovery and resumption of their business operations, and preparing their employees for work after the ECQ. They emphasized that organizational response must incorporate a people-centric approach in order to enable trust, agility and transformative resilience.    PICPA’s Physical Return and Work Reimagined webinar 

CCO and JGM speak at ECCP webinar  On 7 May, PICPA MMR organized another briefing on the ECQ-related BIR issuances and the extended tax deadlines. LLL discussed BIR issuances on donations, documentary stamp tax on qualified loans, authority-to-print, qualified imported goods, acceptance of tax payments, extensions of the due dates for filing and payment of tax returns, and tax document submissions and payments to LGUs. PICPA South Metro Manila Chapter President-Elect and SGV Tax Partner Maricris See hosted the webinar and facilitated the open forum.   LLL presenting at the PICPA webinar and CCO and JGM presenting at the ECCP briefing  Tax Partners CCO and JGM discussed extended tax deadlines and ECQ-related donations in a webinar hosted by the European Chamber of Commerce of the Philippines on 8 May. JGM explained the extension of tax statutory deadlines and the implementation of the tax exemption provision of RA 11469. CCO discussed tax incentives and requirements on donations made during the ECQ. 

ANC designs and donates sanitation tents ANC inside the DIY sanitation tent  SGV Advisory Principal Armand N. Cajayon Jr. (ANC) designed and donated do-it-yourself (DIY) sanitation tents for his residential village in Las Piñas City. He also turned over a part of his design and a cash donation to the Mapua Alumni Golf Club (MAGC). MAGC was able to assemble and donate sanitation tents to the National Kidney Transplant Institute in Quezon City. The tents are made of durable and affordable materials and can be replicated and assembled. They are equipped with a diffuser system that will spray disinfectants on personnel who walk through.     A member of MAGC assembling sanitation tents and MAGC turning over a mobile swab station    MAGC also donated mobile swab stations to the local governments of Marikina and Manila. The mobile swab stations are designed to help protect health workers when taking specimens from suspected and probable COVID-19 patients.  

WPT speaks at ACPAPP Day SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) was a guest speaker at the ACPAPP Day (Association of Certified Public Accountants in Public Practice) of the 2020 Accountancy Week Celebration. With the theme Filipino CPAs rising amidst challenging times, the celebration featured how the accountancy profession is managing and addressing the issues caused by the pandemic.  WPT presenting at ACPAPP Day of Accountancy Week  WPT discussed the challenges that CEOs face during the pandemic, emphasizing the need to lead with empathy, protect the health and wellbeing of people, develop proactive measures to reopen business, and contribute to economic recovery.   He explained the measures that the Firm has implemented to ensure business continuity and resilience. He shared that SGV activated a crisis management team composed of representatives from critical business units within the Firm. SGV also regularly coordinates with clients and provides them with thought-leadership materials to help them develop or adjust their resiliency plans in the face of the pandemic. Prioritizing the wellbeing of its people, the Firm has also implemented alternative work arrangements and organized wellness programs for staff. SGV has also leveraged on technology to strengthen company culture and enhance collaboration and productivity.   Over 600 participants tuned in to the session. Other speakers included chief executives from other professional services firms.  

Tax conducts transfer pricing webinars SGV’s Tax Team conducted a series of webinars on the new BIR Requirement for the Submission of an Information Return on Related Party Transactions (BIR Form No. 1709) on 29-30 July and 3 August. SGV Vice Chair and Deputy Managing Partner Vivian Ruiz and Tax Leader Fame delos Santos welcomed over 2,500 tax and finance officers to the sessions.   Speakers at the transfer pricing webinars and members of the Tax organizing team  Tax Partner Deonah Marco-Go (DMG) and Senior Manager Joyce Francisco discussed the salient features of Revenue Regulations No. 19-2020 which require the submission of BIR Form No. 1709 attached to the annual income tax returns of taxpayers covering fiscal years ending 31 March 2020 and subsequent taxable years.   Revenue Memorandum Circular No. 76-2020, which clarifies certain issues on the filing of BIR Form No. 1709, was released after the event’s second session on 29 July. Speakers discussed the salient features of RMC 76-2020 during the succeeding sessions.  Each session concluded with a panel discussion facilitated by International Tax and Transaction Services Leader Romy Danao, Transfer Pricing Leader Rey Marcelo, DMG and Ms. Francisco. The event’s organizing team included Tax Senior Manager Auresana Torres, Manager Maxine Victor Manuel and other managers and staff of the Transfer Pricing Tax team.   

KSM discusses resiliency at CCCI webinar   SGV Consulting Markets Co-Leader and EY ASEAN Finance Fields of Play Leader Kathrina S. Macaisa (KSM) spoke at a webinar on building enterprise resiliency hosted by the Cebu Chamber of Commerce and Industry (CCCI) last 24 July. CCCI President Felix Taguiam welcomed nearly 50 participants to the webinar, including managers and executives from local businesses and member companies of CCCI. KSM presented the EY COVID-19 Resilience Framework, a structured and comprehensive approach to building business resiliency during the pandemic. She discussed its nine pillars: employee health and wellbeing, talent and workforce, supply chain and global trade, customer and brand, financial and investor, risk, government and public policy, technology and information security, and insurance and legal disputes across three dimensions — now, next and beyond. She also discussed the EY COVID-19 Preparedness Tool that aims to help businesses assess their level of crisis preparedness and enable them to address gaps and weaknesses.   KSM presenting at the CCCI webinar  The webinar concluded with an insightful question & answer session. CCCI Board of Trustees Member Engr. Leonora Salvane delivered the closing remarks. The CCCI Business Development and Management Services Division and SGV Cebu Partner-in-Charge and Tax Partner Cheryl Ong led the webinar’s organizing team which included Tax Manager Virnee Joy Agot, Business Consulting Senior Manager Paulo Lastimosa, Managers Ruby Alcantara-Seville and Patrick De Leon, and Associate Venessa Villanueva.   For more information about CCCI webinars and events, please visit the CCCI website and Facebook page.

Business Consulting facilitates MCCI webinar  SGV’s Business Consulting Team led a webinar titled Zooming in to a Better Normal for members of the Mandaue Chamber of Commerce and Industry (MCCI) on 29 July. The webinar discussed how to effectively manage and reopen businesses during the pandemic. MCCI President Steven Yu welcomed participants to the webinar which included MCCI Vice President for Internal Affairs Kellie Ko, Event Co-Chair Walter Ong and Board of Directors Member Marc Anthony Ynoc.  Business Consulting Partner Marnelli Eileen J. Fullon (MJF) discussed a human-centered response to disruption, emphasizing that market leaders should not only focus on short-term actions to transition to the new normal but also innovate and transform their business models to adapt to the changing world. She explained the impact of the pandemic on consumer behavior and how it resulted in the emergence and transition of consumer segments. She also discussed how businesses can address employee concerns by transforming their workplace and making decisions that benefit their long-term agenda and are anchored on their organization’s purpose.   Business Consulting Partner Jan Ray G. Manlapaz (RGM) provided tips on how to achieve supply chain (SC) resilience through the key capabilities of the Prepare, Sense, and Respond Framework. He also explained the traditional global SC structure and its gaps. He then presented insights on the future of the global SC network, emphasizing the value of “coopetition” or cooperative competition between companies that form a collaborative relationship to mutually benefit both businesses.  MJF, RGM, and Maan  presenting at the MCCI webinar  Business Consulting Senior Manager Mary Andrea “Maan” Bacani discussed the SC resilience capability build-out and demonstrated SC control tower scenario planning. The speakers also presented EY’s COVID-19 Enterprise Resilience Assessment Tool and its impact on SC, global trade, customer and brand.  Over 1,200 participants viewed the event which was webcast through the MCCI Facebook page. The event’s organizing team included SGV Cebu Partner-in-Charge and Tax Partner Cheryl Ong, Tax Manager Virnee Joy Agot, Business Consulting Senior Manager Paulo Lastimosa, Managers Ismael Tupaz, Karen Baraquel, Ruby Alcantara-Seville and Patrick De Leon, and Associate Venessa Villanueva.  For more information about MCCI webinars and events, please visit the MCCI Facebook page. 

RAF joins MBC roundtable discussion  EY ASEAN Business Consulting Leader and SGV Consulting Leader Rossana A. Fajardo (RAF) was a keynote speaker at a virtual roundtable discussion hosted by the Makati Business Club (MBC).   She led a discussion on digital leadership and the habits of leaders who successfully execute digital transformation. RAF shared, "Digital transformation leaders are fully embedding digital transformation across their business. They are generating financial value from their technological innovations and making efforts to build a transformation culture – transformation is woven into the fabric of their business."   RAF also discussed how digital leaders are responding to the challenges caused by latest disruptions and how digital transformation, collaboration and connection are critical to a company’s success after the COVID-19 pandemic. She also gave tips on how newly remote teams can leverage on different technologies to enhance collaboration and increase productivity.   MBC Executive Director Coco Alcuaz moderated the session. Participants included MBC members and executives from the private sector.   Read more about the roundtable discussion at MBC.com. 

Tax Partners speak at ACPAPP webinar  Tax Partners Deonah Marco-Go (DMG) and Margaux A. Advincula (MAA) facilitated a tax webinar for members of the Association of Certified Public Accountants in Public Practice (ACPAPP).   MAA kicked off the session with an in-depth discussion on what taxpayers can expect of audits conducted by the Bureau of Internal Revenue (BIR) in the new normal. She outlined the tax assessment process and explained its significant stages. She also discussed due-process requirements, assessment notices served on taxpayers, and issues raised with Letters of Authority and Assessment Notices issued by the BIR. MAA also explained tax audit-related topics, such as the rules on the issuance and enforcement of Subpoenas Duces Tecum, and key takeaways from the issuances published by the BIR in light of the COVID-19 pandemic.   Speakers and participants at the ACPAPP webinar  DMG discussed the latest tax updates and emphasized the recent BIR regulations and issuances such as RR 19-2020 which prescribes the use of the new BIR Form No. 1709. She also spoke on the provisions of RMO 21-2020 which provides the policies and guidelines for the inspection and supervision over the destruction and disposal of wastes, and obsolete goods and assets. She explained the salient provisions of each issuance, detailing its prescribed procedures — the BIR guidelines on the implementation of the forms to be used and the tasks described, and the penalties for violations of the provisions.   The session culminated with a lively question & answer period. The event brought together over 250 participants including SGV Assurance Partner and former Chairman Itos Cruz; Tax Partner Sonia Segovia; former Board of Accountancy Chair Joel Tan Torres; ACPAPP President Anita Rodriguez; and former ACPAPP Presidents Atty. Arminda Guerrero, Carlito Dimar, Jerome Antonio Constantino, and George Villaruz.

KSM presents at FINEX-SAP webinar  SGV Consulting Markets Co-Leader and EY ASEAN Finance Fields of Play Leader Kathrina S. Macaisa (KSM) was one of the speakers at a webinar titled Transform to Agile by Leveraging Emerging Technologies hosted by the Financial Executives Institute of the Philippines (FINEX) and SAP on 28 July. Other speakers included executives from the banking and technology solutions industries. SGV Chairman and Country Managing Partner and FINEX Professional Development Committee Co-Chair Wilson Tan delivered the opening remarks.  KSM with other speakers at the FINEX-SAP webinar  KSM led a session titled Finance of the Future and discussed the challenges that CFOs face caused by disruptive forces such as digital transformation and COVID-19. She shared that transforming to agile goes beyond embracing tools and technology. Emphasizing the need to embrace technological innovations available in the market, KSM explained that companies also need to equip their finance functions and teams with the right tools to increase efficiency and enhance agility. She also discussed the importance of anchoring transformation programs on a vision that is aligned with the company’s overall vision and strategy. She added that companies should consider the dynamic value drivers shaping the future of finance to protect and enhance their finance functions.