Tax holds Transfer Pricing webinar with Mactan locators

SGV’s Tax Team, together with the Mactan Export Processing Zone Chamber of Exporters and Manufacturers (MEPZCEM) and the Association of MEPZ Controllers and Accountants (AMCA), organized a tax webinar on the submission of the Information Return on Related Party Transactions form (BIR Form No. 1709) last 27 August. Over 60 representatives from member-companies of the MEPZCEM and AMCA attended the event.

DMG presenting at the webinar

Tax Partner Deonah Marco-Go (DMG) discussed Revenue Regulations No. 19-2020, its requirements and how taxpayers and stakeholders can comply with the new regulations. The new reportorial requirement is intended to effectively implement Philippine Accounting Standards (PAS) 24, Related Party Disclosures, to ensure that related party transactions are properly disclosed and conducted at arm’s length.

The webinar concluded with remarks from AMCA President Jane Abangan who expressed her appreciation for the Firm’s continued support for the MEPZCEM and AMCA. SGV Tax Partners Cheryl Ong and Saha Bulagsak led the event’s organizing team with Tax Managers Edmond Emperio, Anne Margaret Momongan and Maxine Manuel, and Senior Associates Gensbergh Rago and Lloyd Amaya.