2021

News

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.

News

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.

News

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.

News

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.

News

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.

News

ECCP organizes webinar with Davao

29 March 2021

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.

News

Davao conducts webinar with Anflo Group locators

29 March 2021

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.

News

PMTLAI hosts webinar with Tax Team

29 March 2021

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.

News

WPT joins panel at TMAP webinar

10 March 2021

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.

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

ECCP organizes webinar with Davao

Davao conducts webinar with Anflo Group locators

PMTLAI hosts webinar with Tax Team

WPT joins panel at TMAP webinar

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