Cebu teams with JCCI-CI

SGV Cebu’s Tax Team held a webinar on the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) bill and the BIR requirements on related party transactions for members of the Japanese Chamber of Commerce and Industry of Cebu Inc. (JCCI-CI) last 26 August. Conducted mostly in Japanese, the webinar was led by Japan Business Services and Tax Associate Directors Hiroshi Nakagawa and Yohko Tsuge with SGV Cebu Partner-in-Charge and Tax Partner Cheryl C. Ong (CCO).

Speakers at the JCCI-CI webinar with JCCI-CI President Hirohisa Kinoshita

Hiro discussed the salient features of the CREATE bill, particularly the proposed adjustments in corporate tax and rationalization of fiscal incentives. He also explained the new BIR requirement for the submission of an Information Return on Related Party Transactions form (BIR Form No. 1709) and the salient features of Revenue Memorandum Circular No. 76-2020. The webinar culminated with an open forum led by CCO and Yohko.

Japanese executives and tax professionals from member companies of JCCI-CI attended the webinar. The event’s organizing team included Tax Managers Melissa To, Aiza Giltendez and Krizfer Jane Gella.