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SGV launched the Mandarin version of the Doing Business in the Philippines publication and conducted a tax update briefing for members of the Chinese Enterprises Philippines Association (CEPA) and representatives from the Embassy of the People's Republic of China in the Philippines in March 2024 at the SGV Makati office. (From left to right) Assurance Partner Jonathan T. Bino, Tax Partner Maricris U. See, COIN Leader Fidela I. Reyes, Embassy of the People’s Republic of China in the Philippines Minister Counselor Yang Guoliang, SGV Senior Advisor and former Ambassador Delia Domingo Albert, CEPA President Hu Xinquan, SGV Chairman and Country Managing Partner Wilson P. Tan, and Tax Partner Francis J. Ricamora The briefing was organized by SGV’s China Overseas Investment Network (COIN) team, led by Atty. Fidela T. Isip-Reyes, with support from Assurance Partner Jonathan T. Bino and Tax Partner Maricris U. See.  SGV Chairman and Country Managing Partner Wilson P. Tan  SGV Chairman and Country Managing Partner Wilson P. Tan and SGV Senior Advisor and former Ambassador Delia Domingo Albert welcomed embassy representatives and CEPA members to the event.  Embassy of the People’s Republic of China in the Philippines Minister-Counselor Yang Guoliang (left) and CEPA President Hu Xinquan (right) Embassy of the People’s Republic of China in the Philippines Minister-Counselor Yang Guoliang and CEPA President Hu Xinquan delivered remarks highlighting the Philippines as a prime investment destination for Chinese companies. They noted that the new tax reforms under Republic Act No. 11976, the "Ease of Paying Taxes Act," could enhance investment opportunities by simplifying tax compliance. Additionally, the release of the Mandarin edition of SGV's Doing Business in the Philippines publication will provide valuable guidance for Chinese investors entering the Philippine market. Senior Advisor and former Ambassador Delia Domingo Albert  Tax Partners Francis J. Ricamora (left) and Maricris U. See (right) during their respective discussions Master of Ceremonies, Assurance Partner Jonathan T. Bino  Ambassador Delia also gave her remarks, followed by keynote presentations delivered by Tax Partners Francis J. Ricamora and Maricris U. See, focusing on the Ease of Paying Taxes (EOPT) Act and Revenue Memorandum Circulars No. 5-2024 and No. 12-2024. Assurance Partner Jonathan T. Bino hosted the event. SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz delivers her closing remarks The briefing concluded with SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz's closing remarks, and attendees received copies of the newly released Mandarin publication. 

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.

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 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 Strategy and Transactions (SaT) Partner Lady March Diam C. Trinidad served as one of the judges at the Chartered Financial Analyst (CFA) Institute Research Challenge Local Finals for 2023–2024 held via Zoom. SGV SaT Partner Lady March Diam C. Trinidad (top right) with the other judges Six university team finalists competed by analyzing the traded shares of a company and presenting their investment cases. The event culminated with the Emerald Equities team from the University of the Philippines Diliman being named the overall champion and JEFE from Ateneo de Manila University as the first runner-up.  Group photo with the Emerald Equities team from the University of the Philippines Diliman  The event was organized by the CFA Society Philippines, an association of local investment professionals, consisting of portfolio managers, security analysts, investment advisers, and other financial practitioners.

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 paid a courtesy call on the Philippine Amusement and Gaming Corporation (PAGCOR). The discussions revolved around PAGCOR’s approach to money laundering and terrorist financing, which involve strategies in line with the national policy and sanctions in the casino industry.  (From left to right) FinCrime AML/CTPF Senior Associate Damlouie Valladolid, Assurance Partner Christine G. Vallejo, FSO) Risk Management Leader Vicky Lee-Salas, PAGCOR Assistant Vice-President, AML Supervision & Enforcement Department Dave Fermin J. Sevilla, FinCrime AML/CTPF Partner Veronica Mae Arce Balisi, Cybersecurity Partner Carlo Kristle G. Dimarucut, and Forensic and Integrity Partner Roderick M. Vega Attendees included PAGCOR AML Supervision & Enforcement Department Assistant Vice-President Dave Fermin J. Sevilla, Asia Pacific Financial Services Organization (FSO) Risk Management Leader Vicky Lee-Salas, FinCrime AML/CTPF Partner Veronica Mae Arce Balisi, Forensic and Integrity Partner Roderick M. Vega, Assurance Partner Christine G. Vallejo, Cybersecurity Partner Carlo Kristle G. Dimarucut, and FinCrime AML/CTPF Senior Associate Damlouie Valladolid. More key points discussed during the meeting included adaptation to regulatory demands, data quality improvement, innovation, and collaboration. SGV showcased its support for covered organizations through first-generation capabilities, technological advancements, and collaboration in domains such as Anti-Money Laundering/Countering the Financing of Terrorism, Forensics & Integrity Services, and Technology and Cybersecurity.

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.

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.

SGV Cebu recently conducted an executive briefing on the newly implemented 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.  GCR Partner Saha P. Adlawan-Bulagsak (left) and Senior Director Atty. Anne Margaret Momongan-Lim (right) during their respective discussions on the EOPT Act and CREATE MORE Bill Tax Leader Fabian K. delos Santos delivered the opening remarks and welcomed the participants. The main speakers of the briefing were Global Compliance and Reporting (GCR) Partner Saha P. Adlawan-Bulagsak and Business Tax Services (BTS) Senior Director Atty. Anne Margaret E. Momongan-Lim, who provided insights into the EOPT Act and CREATE MORE Bill, respectively. A question-and-answer session and one-on-one consultations were held after the main discussions. Philippine Quantitative Services Leader and Asean Tax Transformation Leader Atty. Cheryl Edeline C. Ong shared her insights while addressing participants’ queries. SGV Cebu Partner-in-Charge Margem A. Tagalog delivered the closing remarks. Atty. Anne Margaret Momongan-Lim, Tax Leader Fabian K. delos Santos, SGV Cebu Partner-in-Charge Margem A. Tagalog, GCR Partner Saha P. Adlawan-Bulagsak, and Philippine Quantitative Services Leader and Asean Tax Transformation Leader Atty. Cheryl Edeline C. Ong at the executive briefing The briefing was organized with the help of GCR Director GJ Robin Cobosa and his team of managers and staff from the Cebu office. This team included Atty. Virnee Ting, Atty. Melissa Joyce To, Atty. Lou Delianne Reboja, Atty. Aaron James Melendez, Atty. Ernest Adrian Co, Atty. Gerardo Klauddio Van Cuadrasal III, Atty. Ron Christian Eupeña, Athena Luce, Stewart Herbie Po, Joseph Nikko Recentes, Lheiann Vhiev Emperio, Joseph Santiago Quiño, Myrel Ann Villaran, and Rose Tejerero. The executive briefing underscored SGV's continued commitment to enable businesses and clients with the necessary tools to navigate complex tax legislative changes. It also provided an opportunity to reconnect with C-Suite executives.