2023

SGV Global Compliance and Reporting (GCR) Senior Director Meynard L. Sardalla was the guest speaker at the Junior Philippine Institute of Accountants – Polytechnic University of the Philippines Taguig (JPIA-PUPT) Chapter year-end program held on 18 September 2023. Meynard delivered an inspirational talk to over 150 accountancy students. Meynard receives a certificate of appreciation from members of the JPIA-PUPT Chapter Meynard shared his experiences and struggles as an accounting professional and emphasized the importance of stewardship, grit, and vibrance in achieving goals and aspirations.  The year-end program recognized student leaders who have excelled in various leadership domains such as inclusivity, civic engagement, innovation, and other values of a professional accountant.

SGV Partners and Managers joined the 2023 Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region (MMR) Geographical Area Office (GAO) Tax Conference with the theme “Beyond Numbers: Reinforcing the Roles of Regulators and Accountants for Effective Tax Compliance.” The event was held from 14 to 15 September at the Century Park Hotel Grand Ballroom in Malate, Manila. Around 400 participants per day attended the event. Group photo with Earvin, Sonia, Crissee and Meynard PICPA MMR Chair and GAO Regional Director Sonia D. Segovia and Tax Conference Committee Chair Maricris “Crissee” U. See led the PICPA MMR GAO team. Tax Conference Committee Co-Chair Meynard Sardalla and Tax Conference Committee Member Earvin Darren Lee were the Masters of Ceremonies during the event. MUS discussed the Bureau of Internal Revenue’s (BIR’s) 2023 Priority Plans highlighting its Digital Transformation Program, as well as its focus on Taxpayer Services, and Audit and Enforcement Program. Philippines and Asean Business Tax Services (BTS) Leader Jules E. Riego capped off Day 1 with his discussion on “How to Properly Manage a Tax Audit.” He highlighted the basic procedures of a tax audit, cited real cases, and provided tips in handling various situations which may occur during a BIR tax audit. Jules discussing the BIR tax audit process SGV Tax Partners Atty. Margaux A. Advincula and Atty. Cherry Liez Rafal-Roble were panelists in a roundtable discussion covering fake receipts and ghost companies in fake transactions. MUS moderated the roundtable discussion. Earvin presents certificates and tokens of appreciation to Crissee, Liez, and Margaux Margaux also joined another roundtable discussion which covered hot tax topics and some controversial taxpayer issues and concerns. PICPA Southern Metro Manila Chapter (SMMC) President Aileen L. Saringan and PICPA Western Metro Manila Chapter (WMMC) President Peter John R. Ventura introduced some of the speakers. SGV Tax Partners Atty. Tesi Lou Guanzon and Jay Ballesteros also joined the conference. The conference was also graced with the presence of Albay Representative Hon. Jose “Joey” Salceda and the virtual presence of BIR Commissioner Hon. Romeo “Jun” Lumagui, Jr. As the conference’s guest speakers, they answered tax questions and tax concerns from the participants.

SGV Financial Services Organization (FSO) Technology Consulting Principal Anurag Mishra was a speaker at the 2023 Asian Banking and Finance forum. It was attended by regulators, prominent bankers, and industry experts. Anurag (left) at the 2023 Asian Banking and Finance forum Anurag talked about embedded finance, digitalization, buy now, pay later (BNPL), loyalty programs, and how hyper-personalization enhances customer experience and engagement. He also discussed the risks associated with these programs as well as how engaged customers drive product improvements and revenues and is a market differentiator. He emphasized the role of regulators in ensuring fair practices, protecting customer data, and promoting transparency in loyalty programs. 

SGV Consulting Partner Charisse Rossielin Y. Cruz was a speaker at the 2023 Insurance Asia forum held at Shangri-La The Fort Manila on 3 October 2023.  Charisse at the Insurance Asia forum Charisse talked about emerging trends, problem areas, and possible opportunities in the insurance industry. She also covered emerging focus areas insurers must be on the lookout for. Fellow distinguished insurers in the Philippines attended the forum.

SGV Tax Associate Shania Rose A. Lozano ranked 4th in the May – June 2023 US Certified Management Accountant (CMA) exam. She also received the US CMA Distinguished Performance Award for her excellent scores on the exam. The results were announced on 20 September 2023.  SGV Tax Associate Shania Rose A. Lozano, CPA, CMA The CMA title is a credential that represents enhanced expertise in areas of accounting and finance, with competencies in strategic thinking, business analysis, and leadership. It is offered by the Institute of Management Accountants (IMA). Congratulations, Shania!

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte and Business Tax Services (BTS) Partner Atty. Cherry Liez O. Rafal-Roble were speakers in the 2nd World Clean Energy Philippines Conference + Expo 2023 held at the Novotel Hotel. Benjie and Liez talked about “Carbon Emissions Reduction: Replacing Fossil Fuels in Electricity Generation” and “Philippine Sustainability Laws, Incentives, and Taxation,” respectively.  Liez and Benjie at the at 2nd World Clean Energy Philippines Conference + Expo 2023 Benjie described decarbonization as one of the solutions in mitigating the effects of climate change. He also emphasized shifting to renewable energy as one of the means to securing a sustainable energy future. Liez discussed the impact of relevant legislation favoring cleaner energy sources. The event was organized by Escom Events.

The SGV Financial Services Organization (FSO) Banking and Capital Markets (BCM) team hosted its annual Banking Industry Briefing on 31 August 2023. Topics such as Sustainability and Climate Risks, Digital Transformation, Innovation and Cyber Security, and a case study on Digital Innovation were discussed. More than 300 participants attended the event. (From left to right) FSO Leader Christian Lauron, BCM Leader Janeth Nuñez-Javier, FSO Assurance Leader Irene Janet Alvarado-Paraiso, Chairman and Managing Partner Wilson Tan, Maya Bank President Angelo Madrid, BSP Financial Supervision Sector Senior Director Melchor Plabasan, BSP Assistant Governor Lyn Javier, Deputy BCM Leader Veronica Arce Balisi, and Markets Leader Vicky Salas at the Banking Industry Briefing FSO Leader Christian Lauron welcomed the participants and delivered the opening remarks. SGV Markets Leader Vicky Salas served as the moderator during the Q&A session with external speakers: Bangko Sentral ng Pilipinas (BSP) Assistant Governor Lyn Javier, BSP Financial Supervision Sector Senior Director Melchor Plabasan, and Maya Bank President Angelo Madrid. Banking Industry Briefing participants FSO Forensics and Cybersecurity Partners discussed different solutions relevant to banking clients and relevant regulatory updates and their impact on the audit of banks. FSO Partner and Wealth & Asset Management (WAM) Leader Ray Francis Balagtas delivered the closing remarks. SGV Chairman and Managing Partner Wilson Tan and FSO Assurance Leader Irene Janet Alvarado-Paraiso, among other Partners, were also present during the event. The FY24 Banking Industry Briefing was organized by FSO Partners and BCM Leader Janeth Nuñez-Javier and Deputy BCM Leader Veronica Arce Balisi together with FSO Senior Managers and BCM Lead Managers Geraldine Rose Ogerio and Glaiza Escaño.

SGV Leaders and Partners paid a courtesy call on newly appointed Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona, Jr. on 23 August 2023. BSP Governor Remolona’s term began on 3 July. SGV Leaders and Partners with newly appointed BSP Governor Eli Remolona, Jr. (center) The SGV team was led by Chairman and Country Managing Partner Wilson P. Tan. He was joined by SGV Financial Services Organization (FSO) Leader Christian G. Lauron, FSO Assurance Leader Irene Janet S. Alvarado-Paraiso, and FSO Banking and Capital Markets Sector Leader Janeth T. Nuñez-Javier and SGV Partners Maria Margarita D. Mallari-Acaban, Veronica Arce Balisi, Joseph Ian M. Canlas, and Charisse Rossielin Y. Cruz.  BSP Senior Assistant Governor Johnny Noe E. Ravalo, BSP Assistant Governor Lyn Javier, and BSP Governor’s Chief of Staff Pia Roman-Tayag were also present during the courtesy call.

SGV Partners represented the Firm in a Philippine trade mission to South Korea from 15 to 20 August 2023. The trade mission aimed to help secure business leads among Korean companies to invest in the Philippines, further strengthen the participants’ network, and lay the groundwork for future business missions. The Philippine delegation’s group photo at the Global Knowledge Exchange & Development Center Tax Leader Fabian “Fame” K. Delos Santos, Korean Business Network and Business Services Group Leader Alvin Pinpin, SGV Clark Partner-in-Charge Margaux Advincula, and Indirect Tax and Global Trade Principal Victor De Dios joined the trade mission organized by the Philippines-Korea Economic Council (PHILKOREC) led by its Chairman, Mr. Robert Yupangco.  Margaux, Alvin, Fame, and Vic with PHILKOREC Chairman Robert Yupangco (center) SGV team expresses support and cooperation with the Commercial Counselor of PTIC in the Philippine Embassy to Korea Jose Ma. “Jojie” Dinsay, Mr. Robert Yupangco, and representatives from Korean business groups The Partners joined a courtesy call on Her Excellency Amb. Maria Theresa Dizon-De Vega and officers of the Philippine Trade & Investment Center (PTIC) in Seoul. They also participated in business-to-business meetings between the entire Philippine delegation and representatives of Korean companies aiming to develop trade partnerships. EY Korea and SGV team with Amb. Dizon-De Vega On a separate occasion, the Partners were joined by EY Korea Senior Advisor and Korean Business Network Global Leader Chong Yun Park and EY Korea Business Tax Services Leader Seung Yeop Woo in a meeting with Amb. Dizon-De Vega, where they talked about growth prospects in trade between Korea and the Philippines.

SGV held its Withholding Tax series as part of the Tax Basics Seminar (TaxBaSe) series, which cover basic and updated tax rules and regulations along with illustrations and practical applications. Participants during the Q&A sessions in SGV Makati (left) and Clark (right) SGV Global Compliance and Reporting (GCR) Partners Josenilo “Nilo” G. Mendoza and Lee Celso R. Vivas were resource speakers in the seminar series held at the SGV Makati and Clark offices, respectively. There were 92 participants in Makati and 36 in Clark. (From left to right) Nilo, Lee, Leo and MeynardSGV GCR Partner Hentje Leo L. Leaño opened the sessions in both the Makati and Clark offices. SGV GCR Partner Francis “Kiko” J. Ricamora was also present during the Clark leg and joined the Q&A session. GCR Senior Director Meynard L. Sardalla and GCR Associate Director David Jonathan F. Manalili hosted the sessions in SGV Makati and Clark, respectively. (From left to right) David, Nilo, Lee, Kiko, and LeoThe Withholding Tax Series is a three-part series that includes General Concepts on Withholding, Expanded Withholding Tax (EWT), and Withholding Tax on Wages (WTW) and Fringe Benefits Tax (FBT). It aims to provide the participants with an updated and in-depth understanding of the general concepts of withholding taxes, and guidance on the computation, filing, payment, and other requirements relating to Final Withholding Tax (FWT) and Withholding Value-Added Tax (WVAT).