2022

SGV Indirect Tax Senior Director Atty. Alden Patrick C. Labaguis and Associate Director Atty. Gracia Mae A. Beronilla led a tax webinar in the Online Q1 General Membership Meeting organized by the Association of Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) Finance Executives (ASEFEX) on 25 March 2022.  ASEFEX Q1 General Assembly speakers Atty. Alden kicked off the session on “Clarifications on RR 21-2021 in connection to the VAT Zero-Rating Provisions” with an overview of the previous rules governing the sale of goods and services of registered business enterprises prior to the effectivity of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. He discussed issues relative to the subject matter as further clarified by Revenue Memorandum Circular No. 24-2022, particularly on local purchase of goods and services directly and exclusively used in the activity of registered business enterprises, as well as other transactions within the Ecozones and Free Port Zones. Atty. Gracia provided other relevant tax updates. She discussed the guidelines for availing of tax incentives under the CREATE Act and the procedures in applying for Tax Treaty Relief and filing a Request for Confirmation. Attys. Gracia and Alden then addressed the participants’ questions in the open forum.  About 130 ASEFEX members, including SEIPI partners and stakeholders, attended the assembly. Participation in the virtual briefing was coordinated by Logistics Market Sector Leader and Tax Principal Stephanie V. Nava (SVN) and Technology Market Sector Leader and Assurance Partner Manolito R. Elle (MRE). Tax Senior Associate Catriona Janelle V. Gayatin was also part of the organizing team. 

The Climate Change and Sustainability Services (CCaSS) team hosted the second episode of the SGV Sustainable Actions for Value-Creation and Enablement (SAVE) Council’s WebCCaSS. The webcast, entitled “Urgent Call to a Low Carbon Future: Greenhouse Gas (GHG) Emissions and Decarbonization,” was attended by more than 440 SGVeans on 29 April 2022. CCaSS team talks about climate change Financial Accounting Advisory Services (FAAS) and CCaSS Partner Benjamin N. Villacorte (BNV) kicked off the session with his opening remarks while CCaSS Manager Ma. Rebecca S. Ruiz, Senior Associate Joyce Anne A. Soriano, and Associate Donna Genella A. Diancin discussed how GHG emissions contribute to climate change. They also emphasized the urgency of the climate crisis.  Among the topics they covered were: Climate Change and Global Warming; Deep Dive into Greenhouse Gases (GHG) and Their Effect; Drivers of Climate Action: Regulatory Landscape; and Low-Carbon Strategy: Decarbonization. CCaSS Associate Kerby Z. Panaligan provided technical assistance during the session. SAVE Council Chair Clairma T. Mangangey concluded the webcast by thanking the organizers and participants and encouraging them to practice sustainable living. The SAVE Council’s WebCCaSS initiative is a quarterly one-hour webcast that covers concepts, trends, regulations and industry practices around sustainability and climate change. 

WPT was featured as one of three Big Names in the Accounting and Finance World in a web article for OneMega magazine’s April 2022 issue.  Outstanding Accounting and Finance Leaders In the article, WPT talked about his personal and professional life. He recounted his humble beginnings and struggles as a student and young professional. He recognized how consistent hard work and unwavering faith in the Almighty played a huge role in his success as a leader in finance and accounting.  As SGV’s Country Managing Partner, he also shared how he finds Purpose in looking after the Firm’s people, assisting clients with their business needs, creating meaningful relationships on a professional and personal level, and returning home to the warmth and comfort of his family at the end of the day. He was featured together with Marivic Españo, Chairperson and Chief Executive Officer (CEO) of P&A Grant Thornton, and Sharon Dayoan, Chairman and CEO of KPMG R.G. Manabat & Co.

Four SGVeans will receive gold and bronze medals from the Institute of Certified Management Accountants (ICMA) for their exemplary performance in the 2021 and 2022 CMA examinations.  CMA topnotchers JM, Carlos, Trisha, and Kimberly Consulting Senior Associate Juan Miguel “JM” G. Mallare and Assurance Senior Associate Carlos Benedict F. Echevarria were among the highest scorers, earning gold medals, while Global Compliance & Reporting (GCR) Manager Trisha Claire Y. Cabanlit and Consulting Associate Kimberly Candice L. Lim were among the third highest scorers, earning bronze medals.  The top scorers are determined during each testing window. Kimberly, Carlos, and Trisha took the exams in 2021 while JM took the exams in the first quarter of 2022.  Congratulations to our new CMA topnotchers!

SGV Davao Partners Jose Raoul J. Balisalisa (JJB) and Thyrza F. Marbas (TFM) were speakers in the Invest in Davao Online Roadshow to USA held on 5 April 2022. They represented SGV in the virtual event which showcased available opportunities for American investors in Davao City. JJB and TFM with other speakers and guests during the Roadshow JJB presented the Doing Business in Davao brochure produced by SGV and the Davao City Investment Promotion Center (DCIPC), while TFM gave an overview of the corporate taxation and incentives for doing business in the Philippines and Davao. They also participated in a panel discussion with prominent businessmen and government officials. The event was organized by the City Government of Davao through the DCIPC, in partnership with the Department of Foreign Affairs (DFA) and the American Chamber of Commerce of the Philippines – Mindanao Chapter (AmCham Mindanao) to market the city and interact with various business entities across the United States.

SGV Tax Partner Hentje Leo L. Leaño (LLL) was one of the resource speakers during Far Eastern University’s (FEU) Academic Integrity Day Vodcast on 6 April 2022. More than 5,000 faculty and students attended the Vodcast via MS Teams and Facebook Live. LLL talks about academic integrity LLL provided professional service industry perspective on academic integrity and how practicing this value can aid in preparing students for work. He also emphasized the importance of selecting potential employers and career progression in organizations that value integrity. He was joined by other FEU representatives who shared their respective legal and academic insights. The Academic Integrity Day was organized by the University's Academic Integrity Committee and the Center for Learning Enrichment and Research for Students, in partnership with the Office of Graduate Studies, and in collaboration with the University’s Departments, FEU Learning Journey, FEU Student Development, FEU Alumni Relations Office, General Education Department, and Digital Content Creation and Development Department.

International Tax and Transaction Services (ITTS) Senior Director Ana Katrina C. De Jesus and Global Compliance & Reporting (GCR) Senior Directors Maria Michaela “Mycah” E. Ledesma-Oiga and Don Don T. Mojica conducted a series of tax webinars organized by the Philippine Institute of Certified Public Accountants (PICPA) Western Metro Manila Chapter (WMMC) from March to April 2022. PICPA WMMC speakers and participants Don Don hosted the March webinar on Common Tax Issues and Annual Income Tax Return Filing Reminders. The webinar coverage included filing administrative matters, deficiency tax assessments related to income tax, and possible defenses under the rules and common reconciliation procedures. For April, Ana and Mycah hosted the webinars on Transfer Pricing: Bureau of Internal Revenue (BIR) Requirement for Taxpayers with Related Party Transactions and Last-Minute Year-end Tax Filing Reminders, respectively. Ana lectured on transfer pricing and discussed relevant laws and BIR issuances. She also presented BIR Form No. 1709 and explained the form submission procedures on Related Party Transactions. Mycah shared reminders prior to the finalization of Income Tax Returns (ITRs) and Financial Statements for tax-related balances and disclosures. GCR Senior Associates Cheivy Z. Soliman and Mica Alyana C. Rivera and GCR Associates Aaron Joseph A. Sia, Lawrence Dave P. Empleo, Marineth Jane Cardona, and Dehlaila G. Remedios assisted in drafting the webinar materials.

Climate Change and Sustainability Services (CCaSS) Manager Yna Altea D. Antipala was one of the guest speakers in the Ateneo Corporate Sustainability Conference (ACSC) 2022: Nexus. Over a hundred students from grades 9 to 11 nationwide participated in the interactive online event and Q&A session on 2 to 9 April 2022. Yna talks about corporate sustainability Yna was the speaker on “Sustainability is Your Business: Assessing Value Driven Sustainability in the Business Scene.” She talked about concrete sustainability goals for businesses, global sustainability efforts, and long-term value creation. She also served as one of the panelists in the event’s synchronous Q&A session. The ACSC 2022: Nexus was organized by the Ateneo Management Engineering Association to share its core advocacy of corporate sustainability with high school participants and empower a community of CS-oriented leaders through learning.

SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz (VCR) was one of the inspiring female finance leaders featured in the March 2022 Women’s Month issue of FINEX Focus, the official newsletter of the Financial Executives Institute of the Philippines (FINEX). VCR in FINEX Focus As SGV’s Vice Chair and Deputy Managing Partner, VCR supports the Chairman and Country Managing Partner in overseeing SGV’s overall strategic direction and business growth. As EY Asean Assurance leader, she plays an integral role in the Region by driving Assurance initiatives on sustainable audit quality and efficiency, digital tools adoption and innovation, and service delivery model transformation. VCR also represents the Firm in the Philippine Business Coalition for Women Empowerment (PBCWE). She is a leader committed to providing a nurturing environment where people can develop and achieve their potential to the fullest.  

Financial Management for Non-Accountants (FINMA) Organizing Committee Team Leader Sonia D. Segovia (SDS) and Member Meynard L. Sardalla, Philippine Institute of Certified Public Accountants (PICPA) President Marydith C. Miguel (MCM), PICPA Western Metro Manila Chapter (WMMC) President Meynard A. Bonoen (MAB) and Non-Government Organization (NGO) Relations Committee Co-chair Aileen L. Saringan (ALS) participated in the FINMA Program held on 24 to 25 March 2022. SDS, MCM, MAB, and Senior Director Meynard SDS gave the opening remarks while MCM shared a message with the participants on the first day of the event. MAB formally opened the program on the second day. ALS also attended the webinar, which was hosted by Senior Director Meynard. The two-day online training focused on Introduction to Financial Management, Breakeven Point Analysis, and Financial Statement Analysis (Day 1) and Working Capital Management and Short-Term Budgeting (Day 2) for Trade and Industry-assisted clients, particularly business owners, bookkeepers, and OFWs. These topics were discussed by resource speakers from Jose Rizal University (JRU) and the Technological Institute of the Philippines (TIP). The FINMA Program is jointly organized by PICPA under the Government Relations Committee, PICPA WMMC, the Department of Trade and Industry (DTI) Negosyo Center, JRU, and TIP. It is participated in mainly by business owners and bookkeepers of micro, small, and medium-sized enterprises (MSMEs) nationwide.