Tax conducts transfer pricing webinars

SGV’s Tax Team conducted a series of webinars on the new BIR Requirement for the Submission of an Information Return on Related Party Transactions (BIR Form No. 1709) on 29-30 July and 3 August. SGV Vice Chair and Deputy Managing Partner Vivian Ruiz and Tax Leader Fame delos Santos welcomed over 2,500 tax and finance officers to the sessions.

Speakers at the transfer pricing webinars and members of the Tax organizing team

Tax Partner Deonah Marco-Go (DMG) and Senior Manager Joyce Francisco discussed the salient features of Revenue Regulations No. 19-2020 which require the submission of BIR Form No. 1709 attached to the annual income tax returns of taxpayers covering fiscal years ending 31 March 2020 and subsequent taxable years.

Revenue Memorandum Circular No. 76-2020, which clarifies certain issues on the filing of BIR Form No. 1709, was released after the event’s second session on 29 July. Speakers discussed the salient features of RMC 76-2020 during the succeeding sessions. Each session concluded with a panel discussion facilitated by International Tax and Transaction Services Leader Romy Danao, Transfer Pricing Leader Rey Marcelo, DMG and Ms. Francisco. The event’s organizing team included Tax Senior Manager Auresana Torres, Manager Maxine Victor Manuel and other managers and staff of the Transfer Pricing Tax team.