SGV Clark conducts Transfer Pricing briefing

SGV Clark conducted a tax and transfer pricing briefing on 17 October in the SGV Office. The briefings provided a comprehensive discussion on the new Revenue Audit Memorandum Order No. 1-2019 issued by the Bureau of Internal Revenue which supplements the existing transfer pricing audit guidelines and provides standardized audit procedures and techniques in the audit of taxpayers with related-party transactions. Participants from private companies in Pampanga and nearby provinces attended the briefing.

Tax Partner Romulo Danao discussing transfer pricing rules and
regulations in the Philippines

Tax Services Leader Fame delos Santos discussed updates on the tax reform packages, including the Corporate Income Tax and Incentives Rationalization Act (CITIRA) [HB No. 4157]. Transfer Pricing Country Leader and Tax Partner Romulo Danao provided an overview of Transfer Pricing Rules and Regulations in the Philippines, while Tax Partner Deonah Marco-Go spoke on the salient provisions of Transfer Pricing Audit Guidelines.

Tax Partner Deonah Go discussing the salient provisions of
transfer pricing audit guidelines

An open forum followed the talks where Assurance Partner Peps Zabat and Global Compliance and Reporting Partner Leo Leaño shared their insights on the topics discussed.