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In furtherance of SGV’s Diversity, Equity, and Inclusiveness (DE&I) initiatives, and in celebration of the holidays, the Firm’s Tax team, through Market Group (MG) 10, worked with the Quezon City Kabahagi Center for Children with Disabilities (QC Kabahagi) in holding a Christmas event entitled “Kabahagi Krismasaya 2022” at the Serbisyong Bayan Park Covered Court, Batasan Hills, Quezon City on 13 December 2022. Event poster SGV Partners Auresana B. Ines, Lucil Q. Vicerra, and Victor C. De Dios with QC Kabahagi Director Karen Sagun (second from left) at Krismasaya 2022 MG10 was represented by EY Asean Tax DE&I Lead Victor C. De Dios (VCD), together with Indirect Tax Senior Director Alden Patrick C. Labaguis, Associate Director Lauren Antonette M. Mendoza, and Senior Associates Kierk Robin M. Ret and Andrea Nicole C. Loreno. Indirect Tax Head Lucil Q. Vicerra (LQV), International Tax and Transaction Services (ITTS) Partner Auresana B. Ines (ABI), and other SGV staff were also present at the event.  Krismasaya attendees SGV Tax team at Krismasaya 2022 Krismasaya is an annual holiday activity for children with disabilities by QC Kabahagi, headed by Director Karen Sagun. QC Kabahagi is set to run a disability awareness program for SGV Tax professionals this 2023.

SGV’s Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) teams hosted a webinar titled Climate change and its impact on your reporting on 5 December 2022. The webinar was attended by about 121 Chief Financial Officers and finance team members.  Event poster Assurance Leader Martin C. Guantes (MCG) delivered the opening remarks while FAAS and CCaSS Partner Benjamin N. Villacorte (BNV) and FAAS Senior Director Anna Maria Rubi B. Diaz (Rhia) were the resource speakers at the event. Benjamin and Rhia were also joined by EY Asean FAAS Leader Aris C. Malantic (ACM) for a panel discussion moderated by FAAS Director Sheena Dyan C. Suarez, who hosted the webinar as well. Martin delivers his opening remarks Benjamin talks about creating long-term value with sustainability Rhia talks about accounting for climate change Benjamin and Rhia talked about creating long-term value with sustainability, developments on sustainability standards, and accounting for climate change. Benjamin said that creating long-term value is a strategic move by organizations. He also added that long-term value and sustainability have created a strategic imperative for business leaders to act, driven by investors, regulators, employees, consumers, and a broader society. Panel discussion Rhia talked about increasing expectations from stakeholders and the role of entities in explaining how climate-related matters are considered material from a qualitative perspective in preparing their financial statements. She also discussed accounting considerations that entities need to contemplate in accounting for climate change particularly Philippine Accounting Standard (PAS) 16, Property, Plant and Equipment; PAS 36, Impairment of Assets; PAS 37, Provisions, Contingent Liabilities and Contingent Assets; and PAS 1, Presentation of Financial Statements. CCaSS Senior Director Crystal Aleli R. Cornell, CCaSS Associate Director Rosheena E. Borlaza, FAAS Associate Director Russel P. Ocol, FAAS Administrative Lead Kristine Kaye E. Bacay, FAAS Senior Associate John Andrew H. King, FAAS Associate Julia John B. Tabuzo, and EY Technology Associate John Edward C. Saw were part of the organizing team.

The SGV Customs team conducted a complimentary Customs Updates seminar for various clients/importers located in Davao on 13 December 2022 at the SGV Davao office. The SGV Customs Updates seminar was headed by Indirect Tax and Customs Partner Atty. Stephanie V. Nava (SVN) and featured discussions led by Senior Director Atty. Jo Ann Marie O. Casio, Associate Director Atty. Dawna Fya O. Bandiola, and Senior Associates Atty. Michelle V. Alvaro and Atty. Andrea Nicole C. Loreno. Event poster SGV Davao clients/importers at the Customs Updates seminar SGV Davao Tax Partner Saha P. Adlawan-Bulagsak (SAB) delivered the opening remarks and Atty. Jo Ann initiated the discussion by giving an introduction on the Bureau of Customs (BOC) processes. She also explained the Post Clearance Audit (PCA) and Prior Disclosure Program (PDP) processes. Atty. Dawna provided an in-depth lecture on the Authorized Economic Operator (AEO) Program, Strategic Trade Management Act (STMA), and New Rules on Accreditation of Importers.  The SGV Customs team with SGV Davao Partners Saha P. Adlawan-Bulagsak and Jose Raoul J. Balisalisa The SGV Customs Team with SGV Davao Partners Saha P. Adlawan-Bulagsak and Jose Raoul J. Balisalisa Atty. Nicole then described the phases of establishing and operating a Customs Bonded Warehouse. She also presented updates on the 2022 ASEAN Harmonized Tariff Nomenclature (AHTN 2022) and discussed the Tariff Classification/Dispute Ruling.  Atty. Michelle provided clarification on the list of imported articles that no longer require the issuance of an Authority to Release Imported Goods (ATRIG) prior to release from the custody of the Bureau of Customs. She discussed the implementation of the Net Weight per Line-Item Declaration for All PEZA Shipments and updated the clients on other recent customs issuances.  The seminar concluded with a message from SGV Davao Partner-in-charge Jose Raoul J. Balisalisa (JJB) who thanked the attendees for their time and mentioned that the Customs Updates seminar is part of the thought leadership initiatives of the Firm. 

The SGV Business Tax Services (BTS) team conducted an Electronic Invoicing System (EIS) webinar for clients on 7 November 2022. It was attended by over 800 SGV clients engaged in the export of goods and services, e-commerce, and/or classified as Large Taxpayers by the Bureau of Internal Revenue (BIR), which are covered taxpayers in the upcoming implementation of the EIS. EIS webinar speakers and participants SGV BTS Team awards certificates of appreciation to BIR speakers SGV Technology Consulting Partner Armand N. Cajayon (ANC) discussed the basics of developing an Application Programming Interface (API) that can transmit invoices issued from the taxpayers' system to the BIR. Tax Senior Associate Atty. Ma. May P. Matuguina hosted the webinar and moderated the Q&A session.  The team was also joined by representatives from the BIR. BIR Assistant Commissioner Janette Cruz discussed and answered questions on Revenue Regulations 8-2022 and 9-2022 as well as the latest information, updates, and insights on the BIR’s implementation of the e-Invoicing System (EIS). She was joined by BIR Tax Audit Review Division OIC-Chief Junjun Andallo and Taxpayer Service Programs & Monitoring Division Revenue Officer Tessa Hermosura. SGV Tax Partners Atty. Thyrza F. Marbas (TFM) and Atty. Arlyn A. Sarmiento-Sy (AAS), Senior Directors Atty. Melissa Joyce To and Atty. Rule Amethyst Oporto, Associate Director Atty. Grace Lilac Desuasido, and Senior Associate Atty. Cecille De Villa led the webinar’s organizing team.

SGV International Tax and Transaction Services Partner Atty. Auresana “Rhena” B. Ines (ABI) was a resource speaker at the Excursion: Navigating the Trail of the Accounting Profession webinar organized by the Junior Philippine Institute of Accountants - Pamantasan ng Lungsod ng Maynila (JPIA-PLM) on 20 November 2022 via Zoom. Around 60 Accountancy students attended the event. Atty. Rhena with some of the participants Atty. Rhena talked about her journey to becoming a CPA-Lawyer and personal and professional challenges she encountered. She also shared tips on getting good grades, passing the board and bar exams, and joining a firm that advocates integrity. Atty. Rhena highlighted the need to have a firm purpose to withstand challenges. She shared that she was able to achieve what she had always wanted to do because of her family, team, and SGV’s support. She added that the Firm’s Purpose aligned with hers and that the Firm gave her the opportunity to do what she loves – mentoring, teaching, and helping others comply with rules. Talent Supervising Associate Julia-Anne J. Deypalan and Talent Associate Juliene Marinela M. Salayon assisted Atty. Rhena in coordinating with the JPIA-PLM team.

SGV International Tax and Transaction Services (ITTS) Partner Atty. Auresana “Rhena” B. Ines (ABI) and Indirect Tax (IDT) Senior Director Atty. Alden Patrick C. Labaguis participated in the 3rd IT & Business Process Association of the Philippines (IBPAP) CEO Forum with the theme “Harnessing Multi-Sectoral Synergy for Talent Development in PH IT-BPM” on 28 November 2022 at the Manila House, Bonifacio Global City, Taguig. The event was attended by IBPAP Platinum Club members and Ernst & Young Global Delivery Services (EY GDS) representatives. Atty. Rhena (left) and Atty. Alden (right) with IBPAP President and CEO Jack Madrid (center) Guest speakers covered the Philippine Skills Framework which focuses on creating a common skills language, building deep skills for a lean workforce, enhancing business competitiveness, and supporting employment and employability. EY GDS Philippines Consulting Leader Raymond Garret Go was part of the panel discussion. They talked about IT-BPM’s roadmap to 2028, the need to acquire and develop young and innovative talent, the DTI’s role in helping the industry, the execution of set rules, and the role of the academe in upgrading and rescaling courses. The forum concluded with a call to action for the government, academe, and private sector to respond quickly and create other modes of learning such as certification programs. 

Global Compliance Reporting (GCR) Partner Hentje Leo L. Leaño (LLL) served as one of the Overall Co-Chairs of the 77th Philippine Institute of Certified Public Accountants (PICPA) Annual National Convention (ANC) held from 23 to 26 November 2022 in Cebu City. GCR Senior Director Meynard L. Sardalla also served as a member of the ANC Overall Committee.  77th PICPA ANC Technical Sessions Committee members Leo concurrently served as the Technical Sessions Committee Chair in charge of the selection of topics, speakers and moderators for the technical sessions held during the ANC. GCR Associate Directors David Jonathan F. Manalili and Mica Alyana C. Rivera, GCR Senior Associate Jan Marion V. Dela Cruz and Administrative Intermediate Anna Eliza S. Hernandez were also part of the ANC’s Technical Sessions Committee. The topics in the technical sessions revolved around the theme of the 77th PICPA ANC, “Play It Forward: Securing a Sustainable Future.” 

SGV Partners Marie Stephanie C. Tan-Hamed (MTH), Christian G. Lauron (CGL), and Clairma T. Mangangey (CTM) served as speakers in the 77th Philippine Institute of Certified Public Accountants (PICPA) Annual National Convention (ANC) technical sessions held from 23 to 26 November 2022 in Cebu City. Stephanie provides economic updates Clairma talks about E&S issuesChristian during his technical sessionStephanie kicked off the technical sessions with an economic update focusing on the Philippine developmental objectives and strategy of the new administration in the context of the global economic environment and conditions. Christian, representing the Public Practice Sector, led the discussion on “CPAs as Industry Leaders in a Highly Disrupted Period” while Clairma discussed “Governance of Environmental and Social (E&S) Issues.” Consulting Markets Co-Leader and EY Asean Fields of Play Leader Maria Kathrina Macaisa-Peña (KSM) moderated the panel discussion on CGL’s technical session, while Business Tax Services (BTS) Partner and Asean Tax Transformation Leader Cheryl Edeline C. Ong (CCO) moderated the panel discussion on “Digital and Agile Leadership: Going beyond Paper to PDF.” Nearly 6,000 participants attended the 77th PICPA ANC with more than 4,600 attending physically at the IEC Convention Center and 1,300 virtually via Zoom.

SGV Clark Partners and Managers joined the 31st North Luzon Area Business (NLAB) Conference at the Hilton Clark Sun Valley Resort Hotel, Clark Freeport, Pampanga. The two-day event highlighted programs and opportunities for micro, small, and medium enterprises (MSMEs) and large enterprises featuring emerging businesses in North Luzon. Proprietors, top-level management, and executives of enterprises from CAR and Regions I to III attended the event. SGV Clark Partners and Managers at the 31st NLAB Conference SGV was one of the sponsors and key guests of the Metro Angeles Chamber of Commerce & Industry, Inc. (MACCII). SGV Clark Partner-in-Charge Atty. Margaux A. Advincula (MAA), Market Group 7 leader Jose Pepito E. Zabat III (JEZ), SGV Clark Tax Partner Hentje Leo L. Leaño (LLL), Assurance Senior Director Leo Niño R. Canlas, Assurance Associate Director Ezra Yumul, Global Compliance and Reporting (GCR) Associate Director David Jonathan F. Manalili, and Business Tax Advisory (BTA) Associate Director Atty. Philip Dave C. Cachapero represented SGV.  SGV Clark Partner-in-Charge Atty. Margaux A. Advincula, 2nd Dist. of Albay Representative and Committee on Ways & Means Chair Hon. Jose Maria Clemente “Joey” Sarte Salceda, and BTA Associate Director Atty. Philip Dave C. Cachapero Atty. Margaux (leftmost) and Atty. Philip (rightmost) with Bases Conversion and Development Authority (BCDA) Chairman Delfin Lorenzana and Clark Development Corporation (CDC) President Agnes VST Devanadera Key government officials and prominent business leaders graced the event and discussed issues affecting business and the economy particularly in the areas of agribusiness, tourism, infrastructure, and science and technology development, among others. The conference also served as a venue for delegates to network with businessmen from various parts of the country, explore innovative business opportunities, and forge new partnerships. The 31st NLAB Conference was organized by the Philippine Chamber of Commerce and Industry (PCCI) and hosted by the MACCII. It brought together the key officials of the member Chambers and business partners located in North Luzon and promoted the developments being made in New Clark City and nearby areas, as well as the reforms and initiatives set forth by the Government and by the private sector that would affect locators in North Luzon.

SGV Clark Partner-in-Charge and Head Margaux A. Advincula (MAA) and Market Group 7 leader Jose Pepito “Peps” E. Zabat III (JEZ) welcomed PEZA OIC Director General Tereso “Theo” Panga, who visited the SGV Clark Office for a special meeting with the SGV Clark Business Tax Services team. The visit took place after Margaux and Peps attended a Special General Membership Meeting (GMM) organized by the American Chamber of Commerce (AmCham) North Luzon Chapter on Ecozones in Depth: Enabling Industry and Investments. Philippine Economic Zone Authority (PEZA) officials, together with members of the AmCham North Luzon Chapter, attended the event at the Clark Marriott Hotel. Market Group 7 leader Jose Pepito E. Zabat III, PEZA OIC Director General Theo Panga, SGV Clark Partner-in-Charge and Head Margaux A. Advincula, and PEZA Enterprise Services Officer II Karen Fernandez  PEZA OIC Director General Theo Panga presented updates on various business and investment opportunities in Clark. He also showcased how PEZA and its ecozones have played a crucial role in attracting Foreign Direct Investments (FDIs) which generated much-needed jobs, exports, local and national revenues, and other economic opportunities for the country.