Cebu holds REIT seminar

SGV Cebu conducted a half-day seminar titled An Exclusive Talk on Preparing for Investments and Real Estate Investment Trusts (REITs) last 28 November. Business owners and C-level executives attended the event.

DCM and EVE at the REIT Seminar

SGV Tax Principal Veronica A. Santos (VAS) discussed the salient provisions of the REIT Law and its Implementing Rules and Regulations (IRR) as well as SEC-proposed amendments. VAS then discussed the possible tax implications on the transfer of real property to an REIT, its operations/transactions, initial public offering, transfer of shares, and distribution of dividends to shareholders in light of the new tax laws and proposed tax reform packages.

SGV Assurance Partner Dolmar C. Montañez (DCM) gave an overview of REIT benefits (e.g., asset value realization, capital recycling, and tax incentives) and challenges (e.g., selection of fund and property managers, minimum required public ownership, and tax costs) that sponsor, foreign and local investors may consider before establishing this type of business structure in the Philippines.

VAS speaks at the REIT Seminar

SGV TAS Partner Editha V. Estacio (EVE) then discussed capital agenda, financing options, and valuation of an enterprise. She concluded the talk with a discussion on key considerations when preparing for investments and common reasons why transactions succeed or fail.

The organizing team was headed by SGV Cebu Partner-In-Charge and Tax Partner Cheryl Edeline C. Ong (CCO) and Tax Managers Aiza P. Giltendez, Anne Margaret C. Momongan, and Virnee Joy A. Ting.