On 30 June, SGV held the WS Centennial Celebration to mark the 100th birth anniversary of SGV Founder, Mr. Washington SyCip (WS). SGV Chairman and Country Managing Partner (CMP) Wilson P. Tan (WPT) delivered the opening remarks and welcomed guests, clients and Alumni Partners to the virtual celebration. The event premiered the Washington SyCip Purpose video that reflects on how Mr. SyCip’s journey has positively influenced generations of SGVeans. Prominent industry leaders and close friends of Mr. SyCip then shared personal stories about him, recounting the vital roles he played in their lives. WPT at the WS Centennial CelebrationSGV also prepared several special tokens to honor Mr. SyCip. The Firm unveiled a commemorative marker at the SGV Building I lobby as a tribute to his accomplishments. Available on Spotify, a podcast episode on his early life was produced in collaboration with Pumapodcast. The podcast includes interviews with former SGV CMP Carlos R. Alindada and Mr. SyCip’s biographer, Butch Dalisay. A revamped WS website found at www.washingtonsycip.org was also launched. Furthermore, work is underway on the 2nd edition of his 2009 biography titled Wash: Only a Bookkeeper in print and ebook formats to include a new chapter that focuses on his life from 2009 to 2017. SGV Leaders Vivian Ruiz, Martin Guantes and Noel Rabaja during the unveiling of the WS100 commemorative markerOther noteworthy initiatives presented during the Centennial event include educational programs in collaboration with the Synergeia and WS Family Foundations, tree-planting programs in cooperation with the Philippine Business for Social Progress to be deployed over 100 hectares of depleted land in Marikina and Cebu, and the Owlchievers Program which will recognize 100 outstanding students who embody Mr. SyCip’s values of integrity, excellence, professionalism, discipline and love for the country and the community. The celebration also featured renowned soloist, Rachelle Gerodias who performed some of Mr. SyCip’s favorite songs. The Orchestra of the Filipino Youth of Ang Misyon, led by Gerard Salonga, also paid tribute to Mr. SyCip with a medley of OPM songs. Ms. Vicky at the WS Centennial CelebrationTo close the centennial event Vicky SyCip-Herrera, Mr. SyCip’s daughter, shared a message on behalf of the SyCip family. The day also marked the culmination of the Washington SyCip: 100 days to 100 years posts on social media. Launched on 23 March, the countdown featured the accomplishments, personal milestones and inspirational quotations of Mr. SyCip.
The Philippine American Chamber of Commerce, Inc. (PACC), in cooperation with the Philippine Consulate General in New York and the Philippine Department of Trade and Industry (DTI), conducted the second and third sessions of the webinar series on Philippine investment opportunities and tax developments. Tax Partner Margaux A. Advincula (MAA), Tax Principal Betheena C. Dizon (BCD), and Philippine Tax Desk Senior Manager Michelle Arias participated in the sessions titled Corporate Tax and Incentives under CREATE Act and Individual Taxation and Estate Tax Amnesty. Other participants included representatives from the PACC, the Philippine Consulate General in New York, the DTI Philippine Trade and Investment Center (PTIC), and investors to the Philippines. MAA, BCD, and Michelle with other speakers at the webinar’s second sessionPACC President Aureo A. Sales delivered the opening remarks during the second session. Special Trade Representative Nicanor S. Bautista of the PTIC then provided a brief discussion on the economic relations between the Philippines and the United States of America amidst the COVID-19 pandemic. He also presented relevant data on the Philippines’ surging economy and enhanced viability as an investment ground.Afterwards, Michelle discussed the corporate tax and incentives under the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act). She explained the Act’s salient features, particularly the adjustments in corporate tax and other taxes and the rationalization of fiscal incentives, as well as the enhanced fiscal and non-fiscal incentives provided by Philippine law to prospective investors. BCD and Michelle with other speakers at the webinar’s third sessionThe third session began with opening remarks by PACC Chairman Michael Nierva and Political and Economic Officer of the Philippine Consulate General in New York Ricarte Abejuela III. BCD then led a discussion on the personal income tax regime under the Tax Reform for Acceleration and Inclusion (TRAIN) Law. She also talked about the important principles on estate tax amnesty in the Philippines, including its coverage, immunities and privileges, amnesty period, and exceptions. PACC Executive Director Ledy Almadin was also present. MAA, BCD, Michelle, and Tax Senior Associates Maria Clara Theresa David and Albertson Otchengco were part of the webinars’ local organizing team.
SGV’s Chinese Overseas Investment Network (COIN) team led by Tax Partners Fidela Francisca I. Reyes (FIR) and Maricris U. See (MUS) and Assurance Senior Manager Jonathan T. Bino spoke at a webinar titled Updates in Tax Law (CREATE Law) last 19 June. Hosted by Chiang Kai Shek College (CKSC), the webinar was advertised in at least three major Chinese-language newspapers and was attended by members of the Filipino-Chinese community. FIR, MUS and Jonathan with CKSC officersThe speakers discussed the provisions of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act), including changes in the corporate tax and other tax rates, and other fiscal incentives reforms. The webinar was conducted in Mandarin and English. The session was followed by a discussion between the CKSC team headed by Atty. Chan and the SGV team headed by FIR. Both teams agreed to work closely towards future partnership, including internship programs and future webinars for the Filipino-Chinese community.