2024

SGV Indirect Tax (IDT) Principal Atty. Alden C. Labaguis and IDT Associate Directors Atty. Lauren Antonette M. Mendoza and Atty. Kierk Robin M. Ret were speakers at the recently held PortCalls: Understanding CREATE MORE Bill with VAT Exemption + Ease of Paying Taxes Act Seminar at Citadines Bay City in Manila. Approximately 80 participants and representatives from various importers and logistics companies in the Philippines attended the event. Atty. Lauren discusses EOPT Act tax updates Atty. Lauren opened the discussion on the Ease of Paying Taxes (EOPT) Act, where she highlighted the important changes and developments in the payment of taxes. She also discussed the potential implications of the issuance of Revenue Memorandum Circular (RMC) No. 5-2024, particularly in light of the Supreme Court ruling on Aces Philippines Cellular Satellite Corp. vs. Commissioner of Internal Revenue (G.R. No. 226680 dated 30 August 2022).  Atty. Kierk discusses proposed CREATE MORE Bill amendments Atty. Kierk focused his discussion on the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Bill. He highlighted the proposed amendments on income tax rates, enhanced deductions, and value-added tax.  The seminar concluded with an open forum, where the participants addressed their questions to Atty. Alden and the speakers. IDT Senior Associates Atty. Andrea Nicole C. Loreno and Atty. Natividad G. Busa were part of the SGV coordinating team.

The SGV Knowledge Institute, with the SGV Tax Markets Pillar, hosted a seminar titled “Fortifying Your Legacy: Wealth Succession and Family Business Succession Planning” on 4 April 2024, at the Washington SyCip Development Center (WSDC) Training Room. The event was attended by over 40 family business owners and executives from various sectors. SGV Private Tax Leader Atty. Jules E. Riego and EY Asia-Pacific Private Tax and Family Enterprise Leader Desmond Teo during the question-and-answer session SGV Chairman and Country Managing Partner Wilson P. Tan opened the seminar. SGV Private Tax Leader Atty. Jules E. Riego discussed Succession Law, wealth succession planning both at the family enterprise level and the individual level, family governance, and Common Reporting Standards (CRS). He emphasized the benefits of estate planning and the role of a Family Constitution in preventing disputes. Atty. Jules talks about the holding company structure after a tax-free exchange SGV Tax Partner Atty. Thyrza F. Marbas spoke about wealth planning for individuals, covering tax strategies and legal tools like wills and trusts, aiming to safeguard the future of estates and family businesses. Atty. Cheryl, Atty. Jules, and Atty.  Thyrza EY Asia-Pacific Private Tax and Family Enterprise Leader Desmond Teo shared insights on family offices in Singapore and Hong Kong as models for the Philippines. SGV Tax Partner Atty. Cheryl Edeline C. Ong facilitated the seminar and moderated the question-and-answer session. The seminar highlighted the importance of succession planning for family businesses, including for cost savings, and preserving harmonious family relationships. 

The SGV Consulting team organized the ninth installment of the SheInspires series, titled “Being a Girl’s Girl – The Power of Women Supporting Women,” on 22 March 2024. The session was held on-site at the SGV Makati office and simultaneously streamed via MS Teams. The session underscored the importance of sisterhood and what it truly means to be a “Girl's Girl.”  SheInspires Panelists Consulting Senior Manager Michael Jorge Ignacio, Consulting Manager Sheralyn Peroche, Consulting Partner April Anne M. Corpuz, and Consulting Leader Rossana A. Fajardo The panelists for the session were Consulting Leader Rossana A. Fajardo, Consulting Partner April Anne M. Corpuz, Consulting Senior Manager Michael Jorge Ignacio, and Consulting Manager Sheralyn Peroche.  They defined what it means to be a “Girl’s Girl,” dispelling common misconceptions about the term. They talked about the critical role of mutual support in boosting confidence, ways to foster supportive relationships and environments that enable personal and professional growth, and the connection between support networks and career success and its impact on mental health. The panelists also offered tips for building healthy, empowering relationships, as well as steps to overcome challenges. They shared personal encounters with inspiring women leaders and recounted experiences with women supporting each other even across various corporate fields.  Hosts Tata and Ace during the Q&A session The session concluded with a Q&A segment moderated by hosts Brand, Marketing and Communications (BMC) Assistant Director Ameyra Virginia “Tata” J. Rosales and Technology Assurance Senior Anthony Arman “Ace” R. Matibag.

SGV and the Climate Change Commission (CCC) have pledged to deepen their collaboration for impactful climate resilience, with a focus on empowering Local Government Units (LGUs) through science-based, data-driven strategies. The collaboration aims to invigorate climate initiatives at the community level and promote long-term, low-carbon development. SGV Chairman and Country Managing Partner Wilson P. Tan (right) with CCC Vice Chairperson and Executive Director Robert E.A. Borje (left) (Photo courtesy of the CCC) SGV Chairman and Country Managing Partner Wilson P. Tan highlighted the Firm’s commitment to infusing sustainability into LGU operations and enhancing their climate resilience, emphasizing the critical contribution of the private sector to climate action.  SGV Chairman and Country Managing Partner Wilson P. Tan (third from right), CCaSS Partner Benjamin N. Villacorte (second from right), and CCaSS Principal Bonar A. Laureto (right) with CCC Vice Chairperson and Executive Director Robert E.A. Borje (center) and other members of the CCC (Photo courtesy of the CCC) WPT was joined by SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte and CCaSS Principal Bonar A. Laureto. SGV and the CCC are aligning their efforts with the United Nations Sustainable Development Goals (SDGs), particularly SDG 13 (Climate Action) and SDG 17 (Partnerships for the Goals). By mobilizing private-sector investments towards low-carbon initiatives, this collaboration contributes to sustainable development, in line with the broader SDG agenda. SGV and the CCC continue to establish public-private partnerships, bolstering the integration of climate change considerations into policy and investment decisions to effectively combat the climate crisis.

SGV, represented by Chairman and Country Managing Partner Wilson Tan, and the Ateneo de Manila University (ADMU), represented by Dean of the John Gokongwei School of Management Dr. Roberto Martin Galang, signed a Memorandum of Agreement (MOA) on 21 March 2024 for ADMU to participate in the SGV iTeach Program. The MOA signing took place at the SGV I Building in Makati City. The initial planned project is a series of workshops focused on topics related to sustainability.  SGV and ADMU representatives during the MOA signing SGV Vice Chair and Deputy Managing Partner Vivian Ruiz, SGV Consulting Partner and iTeach Program Director Allan Ocho, SGV Learning & Development Leader and Chief Sustainability Officer Clair Mangangey and ADMU Department of Finance and Accounting Chair Aldo Zelig Tong acted as witnesses. Also in attendance were SGV General Counsel Carolina Racelis, SGV Assurance Partner Katrina Francisco, and SGV Business Consulting Senior Jervie Sta. Ana. The SGV iTeach Program aligns with the Firm's commitment to continue its late founder Mr. Washington SyCip's advocacy for lifelong learning. The program aims to enable educators by updating them on the latest accountancy and technology trends and helping them bridge the gap between theoretical principles and actual practice. This includes collaborations with schools and professional organizations to facilitate training and workshops, provide inputs to the schools' programs, curricula, and syllabi, develop case studies, and provide guest lecturers.  To date, the SGV iTeach Program has been able to reach out to and build awareness with around 7,000 teachers, students, and other professionals across the country.

SGV was one of the newest corporate members inducted during the 2024 1st General Membership Meeting organized by the Philippine Institute of Supply Management (PISM). SGV Business Consulting Partner Jan Ray G. Manlapaz and Senior Manager Mary Andrea T. Bacani, rom the Supply Chain and Operations (SCO) consulting practice, represented the Firm during the meeting held at Okada Manila. They were also joined by SCO Manager Evelyn B. Yamzon during the event. SGV Business Consulting Partner Jan Ray G. Manlapaz (right) and Senior Manager Mary Andrea T. Bacani (second from right) represent SGV during the induction of corporate members Aside from the induction of corporate members, the meeting also featured discussions on the "2024 Economic and Supply Chain Outlook." BDO Capital and Investment Group President Eduardo Francisco and Department of Transportation (DOT) Undersecretary Elmer Sarmiento provided insights into future strategies, best practices, and market forecasts. Newly inducted PISM corporate members and their representatives (top row) with other PISM member representatives The PISM is the country’s premier professional association of supply management practitioners. It sets the industry standards for the supply chain practice. It is also committed to continuously improving the quality of supply management leaders and influencing and co-creating business solutions for both the private and public sectors across the region.

SGV Accounts Leader and EY Asia-Pacific FSO Risk Management Leader Vicky L. Salas moderated the panel discussion on "Customer Feedback and Continuous Improvement: Using Voice of the Customer (VoC) to Drive Innovation" at the Digital Banking Asia Summit Philippines 2024. The summit was held at the Manila Marriott Hotel on 13 March 2024. Vicky (right) moderates panel discussion on customer feedback Vicky moderated the panel discussion featuring ING Bank Senior Vice President - Head of Transformation Office; Office of the Chief Operating Officer Dan Ramirez, GoTyme Bank Chief Experience Officer Lionel Gacad, and Metrobank UX Strategy and Design Head Mica Diaz de Rivera. The panel discussion focused on the pivotal role of customer feedback in shaping the direction of innovation in digital banking. The panelists touched upon the significance of VoC in understanding customer needs and preferences. They explored the potential of using this information to complement advancements in technology, create personalized customer experiences, and enhance banking services. In addition to examining various methods and tools for gathering and analyzing VoC, the conversation delved into real-life examples of turning feedback into action to drive continuous improvement and innovation. It underscored that responsiveness to feedback not only fosters customer loyalty but also propels the industry forward in an increasingly digital age.

EY Asia-Pacific FSO Risk Management Leader Vicky L. Salas was a panelist at the EY International Women’s Day 2024 panel discussion on Work, Wellbeing and Women’s Health held on 7 March 2024 via Zoom. The panel discussion on uplifting social equity through educating and engaging on women’s health at work featured EY clients and community partners from across Asia Pacific. Introduction of panelists and moderator Among the topics discussed were unique women’s health and wellbeing challenges, such as pregnancy, menstrual difficulties, and menopause. The panelists highlighted that understanding and accommodating these challenges creates an environment where women can fully participate and contribute. Women’s reproductive health discussion Other panelists during the session were The Hybrid Gym Group, Hong Kong Gym Manager Dave Markham, Westpac Bank PNG Head of HR Olive Compain, and AIA Employee Proposition and Wellbeing Senior Manager Nicole Schwartz. EY Asia-Pacific FSO Director of Operations Kirsty McFarlane moderated the panel discussion.

SGV Consulting Leader Rossana A. Fajardo was a key speaker at ISACA Manila Chapter’s International Women’s Day webinar titled “Count Her In: Accelerating gender equality through economic empowerment.” This webinar was the first IWD collaboration event between ISACA Manila, Melbourne, Sydney, Wellington, and Auckland and the New Zealand Network for Women in Security (NZNWS). It was held via Zoom on 7 March 2024. Rossana at the ISACA Manila IWD webinar Rossana highlighted the critical role that women play in the tech industry and the importance of addressing gender disparities within the sector. She offered various ways to close this gap, including nurturing girls' interest in STEM, hiring with a focus on gender balance, and supporting women's potential as leaders. She urged managers to back women in STEM leadership roles and called for society as a whole and government bodies to endorse tech careers for women and help finance the workforce's shift. Rossana talks about SGV/EY initiatives that support women in technology She further spotlighted two SGV and EY initiatives propelling this cause – the Women in Technology (WiT) program and the EY STEM App. The WiT program fosters the involvement and leadership of women in tech. It comprises educational programs to enhance girls' STEM skills and interest, mentorship to cultivate female tech leadership, support for women tech entrepreneurs, and efforts to diversify the tech workforce. The EY STEM App, a free gamified platform targeting girls aged 13-18, seeks to stimulate interest in STEM fields. The app offers convenient access to engaging content, empowering girls to take control of their learning progress.  Rossana with some of the webinar participants Rossana concluded her talk by encouraging the participants to continue upskilling and sharpening their tech competencies. She cited her personal career transition from an auditor to a tech consultant as an example. For the Q&A session with ISACA Manila members, Rossana emphasized the value of women in leadership roles, explaining that such diversity allows for a more holistic approach toward decision-making within companies.

SGV Partners and Managers joined the 2024 Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region (MMR) Geographical Area Office (GAO) Tax Conference with the theme “Beyond Compliance: Transcending Regulatory, Tax Challenges and Opportunities.” The two-day event was held at the Century Park Hotel Grand Ballroom in Malate, Manila. Around 200 participants per day attended the event. Tax Conference Committee Co-Chair Meynard Sardalla, PICPA MMR Chair and GAO Regional Director Sonia D. Segovia, Tax Conference Committee Chair Maricris U. See, and Tax Conference Committee Member Earvin Darren Lee PICPA MMR Chair and GAO Regional Director Sonia D. Segovia and Tax Conference Committee Chair Maricris U. See led the PICPA MMR GAO team. Tax Senior Directors Meynard Sardalla and Earvin Darren Lee served as Co-Chair and Committee Member, respectively. Meynard and Earvin also served as the Masters of Ceremonies during the event. Tax Conference Committee Chair Maricris U. See talks about the BIR’s 2024 Priority Plans Tax Partner Aaron Escartin during his lecture on gearing up for annual income tax activities Tax Conference Committee Chair Maricris U. See discussed the Bureau of Internal Revenue’s (BIR’s) 2024 Priority Plans and recent regulatory updates, while Tax Partner Aaron Escartin discussed the essentials and dos and don’ts in preparing the 2024 Annual Income Tax Return, which is due for filing on 15 April 2024. Aaron also joined a roundtable discussion with Tax Partner Atty. Thyrza Marbas on Day 1. PAS Immigration and ITTS Advisory Leader Atty. Fidela Reyes receives certificate and token of appreciation People Advisory Services (PAS) – Immigration and ITTS Advisory Leader Atty. Fidela Reyes was the guest speaker for Day 2. She discussed the Base Erosion and Profit Shifting (BEPS) 2.0 Pillar and highlighted its global and local tax impacts. Atty. Fidela, along with the other Day 2 speakers also addressed questions and clarifications from the audience during the roundtable moderated by Maricris. Earvin, Peter, Sonia, Aileen, Maricris, and Meynard pose for a group photo PICPA Southern Metro Manila Chapter (SMMC) President Aileen L. Saringan, PICPA Western Metro Manila Chapter (WMMC) President Peter John R. Ventura, and PICPA MMR GAO Council Treasurer Francis Ricamora introduced some of the speakers.