2024

SGV Tax Principal Atty. Alden C. Labaguis assumed the position of Vice Chairperson of the Tax and Financial Services (TFS) Committee of The European Chamber of Commerce of the Philippines (ECCP) effective 8 January 2024. ECCP Executive Director Florian Gottein confirmed Atty. Alden’s appointment on the same date through official correspondence.ECCP TFSC Chair Atty. Con Simundac (left) and ECCP TFSC Vice Chair Atty. Alden C. Labaguis (right) Atty. Alden works together with ECCP TFSC Chair Atty. Con Simundac, Lead Legal Counsel of ING Bank Philippines. The ECCP is a bilateral foreign chamber that promotes European interests in the Philippines and vice versa. As an organization with close to 800 members and a strong partnership with the government, the ECCP offers a strong business network that holds great potential in translating to tangible business opportunities. The Chamber strives to make its members’ viewpoints heard on economic and business issues, legislative measures, and administrative regulations. The ECCP recognizes that the financial and fiscal sectors play a key role in helping ensure inclusive and sustainable economic growth and development. Subsequently, the implementation of suitable policies can help facilitate improved generation of funds as well as adequate allocation of resources. The ECCP TFSC engages with relevant stakeholders in initiatives towards improving fiscal and monetary policies including tax reform measures, as well as on improving inclusivity and security in the financial sector.

SGV was one of the sponsors of the Global Compact Network Philippines (GCNP) 5th Sustainability Summit, an annual event that showcases the sustainability efforts and journey of its members. More than 150 participants attended the two-day summit which was held at the Makati Diamond Residences and the WSDC Training Rooms at the SGV I Building. (From left to right) GCNP Executive Director Octavio "Bobby" Peralta, SGV Chairman and Country Managing Partner Wilson P. Tan, Co-CEO of Bayo Manila, Inc. Anna Marie Lagon, UNGC Regional Head for Asia and Oceania Neha Das, Nickel Asia Corporation President and CEO Martin Antonio Zamora, and GCNP Chairperson Ma. Victoria "Vickie" Tan SGV Chairman and Country Managing Partner Wilson P. Tan attended the by-invitation-only CEO Forum where CEOs discussed their vision, plans, scale-up activities, and contribution to the Sustainable Development Goals (SDGs) and the 10 Principles of the United Nations Global Compact (UNGC). In another segment, EY Singapore Principal Praveen Tekchandani talked about Sustainability Reporting.  EY Singapore Principal Praveen Tekchandani The second part of the program focused on the International Financial Reporting Standards (IFRS) Sustainability Reporting Standards. SGV Climate Change and Sustainability Services (CCaSS) Partner Katrina F. Francisco provided an overview of the IFRS S1 and S2 and a more a detailed discussion of the former. EY Singapore Principal Praveen Tekchandani provided a more in-depth discussion of the IFRS S2 and climate-related disclosures. KFF and Praveen also provided updates on the local adoption of these standards and their content requirements.  (From left to right) GCNP Chairperson Ma. Victoria "Vickie" Tan, CCaSS Partner Katrina Francisco, CCaSS Senior Manager Kevin Henson, CCaSS Senior Manager Fernando Salud, GCNP Vice-Chairperson Yayu Javier, and EY Singapore Principal Praveen Tekchandani Sustainability Summit participants CCaSS Senior Managers Kevin Henson and Fernando Jose Salud talked about climate risk assessment for physical and transitions risks in relation to climate-related disclosures. They also discussed climate hazards with relevant data and parameters and their potential impacts on businesses.

SGV was recognized by the Chinese Enterprises Philippine Association (CEPA) as Outstanding Partner during CEPA’s 2023 annual meeting and new year reception held at the Bonifacio Hall of Shangri-la the Fort, Manila on 16 December 2023. SGV Chinese Overseas Investment Network (COIN) Leader Fidela T. Isip-Reyes and SGV Assurance Partner Jonathan T. Bino received the award certificate on behalf of the Firm. SGV Assurance Partner Jonathan T. Bino and SGV COIN Leader Fidela T. Isip-Reyes (third and fourth from left) with the other CEPA awardees SGV Certificate of Award from CEPA Representatives from the Philippine government, including the Department of Foreign Affairs (DFA), Office of the Special Presidential Envoy to China, Office of the Presidential Adviser on Economic Affairs, and Philippine National Police, among others, attended the event. Also present were Embassy of the Peoples’ Republic of China in the Republic of the Philippines representatives Ambassador Huang Xilian and Minister Counsellor Yang Guoliang, Filipino-Chinese business community representatives and more than a hundred members of the CEPA.

SGV Partners Hentje Leo L. Leaño, Margaux A. Advincula, Deonah L. Marco-Go, Jose Pepito “Peps” E. Zabat III, and Victor C. De Dios facilitated a seminar on the Ease of Paying Taxes (EOPT) Act, the CREATE to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Bill, and the Base Erosion and Profit Shifting (BEPS 2.0) Action Plan. The seminar organized by the Subic Bay Freeport Chamber of Commerce (SBFCC) was held at the Subic Bay Peninsular Hotel on 18 January 2024. Victor, Margaux, Peps, SBFCC President Benjamin Antonio III, Deonah, Leo, and SBFCC Director Peter Tumanda at the SBFCC seminar Assurance Senior Director Leo Niño Canlas, Global Tax Compliance Director David Jonathan Manalili, Global Tax Compliance Associate Director Mica Alyanna Rivera, Business Tax Associate Director Atty. Ma. Jeanne Therese Marasigan, Business Tax Senior Associate Atty. Illysa Abquiren, and Atty. Jessica Ella Lagman provided assistance to the Partners throughout the event. About 143 locators and SBFCC members attended the seminar, including SBFCC President Benjamin Antonio III and SBFCC Director Peter Tumanda.

SGV Partners and Managers participated in the American Chamber of Commerce of the Philippines, Inc. (AmCham) North Luzon Economic Briefing on Central Luzon's Regional Economic Situation and Development Outlook for 2024. Forty-five AmCham members attended the briefing held on 25 January 2024 at the SGV Clark office. Atty. Margaux introduces NEDA Region 3 Regional Director Nerrisa T. Esguerra SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula delivered the opening remarks and introduced the resource speakers from the National Economic and Development Authority (NEDA) Region 3: Regional Director Nerrisa T. Esguerra, Supervising Economic Development Specialist Jesito Ponio Jr., and Assistant Regional Director Divina Hope Vallejo. The NEDA speakers talked about the government’s initiatives to facilitate economic and social transformation in Central Luzon. NEDA Region 3 Regional Director Nerrisa T. Esguerra talks about Central Luzon's Regional Economic Situation and Development Outlook for 2024 SGV Consulting Partner Joseph Ian M. Canlas moderated the question-and-answer session with the speakers. AmCham North Luzon President Denise H.R. Molintas delivered the closing remarks. MG7 Leader Jose Pepito E. Zabat, Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño, Assurance Senior Director Leo Niño Canlas, GCR Director David Jonathan Manalili, and Business Tax Associate Director Atty. Ma. Jeanne Therese Marasigan were also present during the event.

SGV Global Compliance and Reporting (GCR) Partner Michael A. Madlangbayan was the resource speaker at the SGV TaxBaSe seminars on Year-end Reminders and Tax Compliance 101. The seminars were held at the SGV Clark, Makati, Cebu, and Davao offices. A total of 329 participants attended the sessions: 46 in Clark, 166 in Makati, 56 in Cebu, and 61 in Davao. The sessions registered the highest total number of participants in the series to date.   Michael at the SGV Cebu session Michael provided the participants with a better understanding of tax returns filing, remittance and administrative requirements, and year-end tax related reconciliation procedures and common issues.  Leo, Michael, Mica, and Lee during the Q&A session in Makati Michael was also joined by GCR Partners Hentje Leo L. Leaño and Lee Celso R. Vivas in the question-and-answer sessions at the Makati office and Saha Adlawan-Bulagsak at the Cebu and Davao offices.  Michael and Saha during the Q&A session in Cebu Year-end Reminders and TC 101 participants at SGV Davao GCR Director Abegaile Marie L. Lebiga hosted the Davao session while GCR Associate Directors Elgina A. Rito, Mica Alyana C. Rivera, and Stewart Herbie T. Po hosted the sessions in SGV Clark, Makati, and Cebu, respectively. GCR Associate Director Joseph Nikko F. Recentes conducted knowledge checks via polling questions in SGV Cebu.

The SGV Tax Markets Pillar held an Executive Briefing for client executives on the Ease of Paying Taxes (EOPT) Act and the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Bill at the WSDC Training Rooms on 15 January 2024. More than 120 executives and officers from various industries attended the event. Atty. Fame (right) talks about the EOPT Act SGV Chairman and Managing Partner Wilson P. Tan delivered the opening remarks. SGV Tax Leader Atty. Fabian “Fame” K. Delos Santos and Philippine Quantitative Services Leader and Asean Tax Transformation Leader Atty. Cheryl Edeline C. Ong were the key speakers for the event. They talked about the EOPT Act and CREATE MORE Bill, respectively. Cheryl talks about the CREATE MORE Bill SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz gave the closing remarks. Cocktails with the clients were held after the event. The event provided an avenue for the SGV Tax team to reconnect with C-Suite executives and to share their insights on tax developments and the relevant business impacts.  The SGV Tax Markets Pillar, led by SGV Clark Partner-in-Charge Tax Partner Margaux A. Advincula, organized the executive briefing. The following Tax Partners and Principals also form part of the team: Frances Rose J. Villamayor, Lee Celso R. Vivas, Arlyn A. Sarmiento-Sy, Karen Kaye M. Sta. Maria-Constantino, Ana Katrina C. de Jesus, Donna Frances G. Ylade-Torres, and Cecille M. Santillan-Visto.  Tax Senior Managers Earvin Darren L. Lee, Joan Rouella P. Corrales, Anne E. Momongan-Lim, Gerardo C. Caiga, and Yzrael Edwin V. Pineda, Tax Managers Ma. Alexandria M. Daileg, Grace Lilac S. Desuasido, and Abegaile Marie L. Lebiga, and Tax Senior Nino Louis M. Belarma helped organize the briefing. In view of overwhelming interest from clients, the SGV Tax Markets Pillar will conduct additional executive briefings that will run in February and March 2024.

The SGV Climate Change and Sustainability Services (CCaSS) team and the EY Center for Climate Policy organized a webcast on “Carbon Pricing: Myths and Facts on Putting a Price on Carbon.” The webcast explored the fundamentals and varying stakeholder perspectives on different carbon pricing mechanisms. More than 400 participants from the private sector, government, non-government organizations, and academe joined the virtual session.  SGV and EY speakers, government, and private sector representatives join the panel discussion SGV Chairman and Country Managing Partner Wilson P. Tan welcomed the participants and delivered his opening remarks. EY Center for Climate Policy Partner and Leader Kasia Klaczynska-Lewis provided an overview of the carbon pricing ecosystem. SGV CCaSS Principal Bonar A. Laureto, EY Center for Climate Policy Senior Anne-Laure Pilat, and EY Manager Malwina Burzec explored the different mechanisms in carbon pricing. EY Asean CCaSS Leader and EY Malaysia Partner Arina Kok discussed carbon pricing in the Asean region. Philippine Climate Change Commission Deputy Executive Director Asec. Romell Antonio Cuenca, Department of Environment and Natural Resources (DENR) Climate Change Service Chief Albert Magalang, and Ayala Corporation Group Sustainability and Risk Management Unit Executive Director Ma. Victoria Tan shared their perspectives and reactions on the earlier discussions. Toward the end of the session, the speakers and public and private sector invitees engaged in a panel discussion to address questions from the audience. Bonar served as the moderator. SGV CCaSS Partner Benjamin N. Villacorte capped off the webcast by thanking the participants and providing key takeaways from the session. SGV CCaSS Partner Katrina F. Francisco hosted the webcast.  The webcast was put together by a CCaSS organizing and production team consisting of Associate Director Louie Adrianne Cediño; Senior Associates Russel James Andrade, Cybelle Angelie Bautista, Lorenso Luis Bueno, Maria Margarita Dela Cruz, and Donna Genella Diancin; and Associates John Christopher Evangelista, Zachary Jara, Robert Joseph Revilla, and Marianne Angelica Velasco, with assistance from CCaSS Managers Reynaldo Azarcon, Diana Sadili-Chu, Jamaica Pangasinan, and Judd Tablazon; CCaSS Senior Associate Zoe Aurora Romero; and EY Center for Climate Policy Senior Leonie Schiedek.

SGV Financial Services Organization (FSO) Partner Veronica Mae “Nica” Arce Balisi was a resource speaker at the Financial Executives Institute of the Philippines (FINEX) Anti-Money Laundering and Counter Terrorist and Proliferation Financing (AML/CTPF) training held via Zoom. This was Nica’s 10th time conducting this session for FINEX Academy.  Nica (upper left) and FINEX Director Ned Goseco (upper right) during the webinar FINEX Director Ronald Luis "Ned" Goseco delivered the welcome remarks and introduced Nica as the resource speaker. Nica gave an overview of money laundering (ML) and terrorist and proliferation financing (TPF). Nica also discussed different concepts of predicate crimes and unlawful activities, Philippine legislation and updates on the regulatory landscape, and the primary duties of covered persons or institutions in combatting ML/TPF. FSO Director Anne Mariel Lagao facilitated knowledge checks via poll questions given in between discussions to maintain interaction with the participants and to gauge their understanding of the topics. To wrap up the session, Nica emphasized that, “As covered persons, we have our own roles that can mitigate ML/TPF risks, if we’ll just use our power or authority for the right purposes then together, we can build a better working world.” 

SGV Partners and Principals together with Chairman and Country Managing Partner Wilson P. Tan attended the Meet and Greet in SGV Clark event held on 18 December 2023 at the SGV Clark office.  SGV Partners and Principals with SGV Clark staff The event provided an opportunity for interaction between the leadership partners and SGV Clark personnel consisting of Assurance and Tax (Global Compliance and Reporting and Business Tax Services) professionals and a socialization activity where partners could provide advice, suggestions and support and the participants felt comfortable asking and answering questions.