August 2022

The SGV Tax team and Samahan ng mga Pilipina para sa Reporma at Kaunlaran (SPARK!) Philippines met with Quezon City Government officials to discuss the SGV Tax team’s Diversity, Equity, and Inclusion (DE&I) initiatives on 28 July 2022. SGV Tax team and SPARK! Philippines representatives with QC Mayor Joy Belmonte and QC PESO Chief Rogelio Reyes The SGV Tax team together with SPARK! Philippines representatives Executive Director Maica Teves and Project Officer Margot Catmunan met with Quezon City Mayor Joy Belmonte, Quezon City Public Employment Service Office (PESO) Chief Rogelio Reyes, City Government Department Head III Ma. Margarita Santos, and Quezon City Small Business and Cooperatives Development Promotions Office (SBCDPO) Head Mona Celine Yap to explore equal employment opportunities, foster gender-sensitivity awareness and social equity in workplaces, and share knowledge and skills for a better Philippines in line with the SGV Tax team's DE&I vision.  Mayor Joy welcomed the Team and expressed her eagerness to help in the proposed projects. She shared some of her experiences in resolving workplace discrimination, harassment, and biases. QC PESO Chief Rogelio affirmed the LGU’s willingness to support the SGV Tax team in their proposed programs by streamlining candidates, especially those in marginalized communities, for possible employment at SGV. Ms. Margarita added that they are willing to screen qualified QC citizens from their pool of talent and assess their capabilities. Meanwhile, Ms. Mona enumerated possible collaborative projects focusing on the areas of business registration, advantages of tax compliance, securing Mayor’s Permits, and basic taxation laws. The SGV Tax team was led by ASEAN Tax DE&I Lead Atty. Victor C. De Dios (VCD). Other members of the SGV Tax Team included Indirect Tax Senior Directors Atty. Alden Patrick C. Labaguis and Atty. Jo Ann Marie O. Casio, Associate Directors Atty. Gracia Mae A. Beronilla and Atty. Dawna Fya O. Bandiola, and Senior Associates Atty. Catriona Janelle V. Gayatin and Atty. Andrea Nicole C. Loreno. 

The Climate Change and Sustainability Services (CCaSS) team hosted the first Sustainabits session of the SGV Sustainable Actions for Value-Creation and Enablement (SAVE) Council for FY23. The webcast on “Social Entrepreneurship – Small actions, big impacts” was attended by 470 SGVeans on 29 July 2022. CCaSS team talks about social entrepreneurship CCaSS Manager Brenda B. Estonanto together with Associates Kerby Z. Panaligan and Ryan Kenneth L. Lim discussed the basics of how social enterprises work. Among the topics they covered were the meaning of social entrepreneurship, the difference between social enterprises (SEs) and non-government organizations (NGOs) and non-profit organizations (NPOs), examples of local SEs and how they work, how EY supports SEs, and how SGVeans can individually support SEs. CMA delivering his closing remarks CCaSS Partner Conrad Allan M. Alviz (CMA) concluded the session by thanking the organizers and encouraging SGVeans to support local social entrepreneurs. The SAVE Council’s Sustainabits initiative is a series of half-hour webcasts that cover ideas, movements, principles, and leading industry practices around sustainability, social equity, and climate change.

SGV Global Compliance & Reporting (GCR) Senior Director Atty. Jan Kriezl M. Catipay hosted two webinars on “Common BIR Audit Issues and Tax Updates” organized by the Philippine Institute of Certified Public Accountants (PICPA) Western Metro Manila Chapter (WMMC) on 16 June 2022 and 29 July 2022. PICPA WMMC speaker Atty. Jan with participants Atty. Jan discussed common BIR audit issues such as Deficiency Tax Assessments: Comparison of various tax returns, attachments vs. audited financial statements, and other specific items assessed by the BIR. She also discussed recent revenue regulations, memorandum circulars, and other issuances by the BIR. Both webinars were held virtually.

SGV International Tax and Transaction Services Partner Atty. Auresana B. Ines (ABI) and Indirect Tax Senior Director Atty. Alden Patrick C. Labaguis led a tax webinar during the Online Q2 General Membership Meeting organized by the Association of Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) Finance Executives (ASEFEX) on 17 June 2022.  ASEFEX Q2 General Assembly speakers ABI led the talk on “Narrowing the Scope for Transfer Pricing Reporting,” in which she highlighted the importance of transfer pricing and discussed relevant laws and BIR issuances. She also discussed matters relating to submission, filing procedures, documentation, and the consequences of non-compliance with material information disclosure in tax returns. Atty. Alden talked about “Recent Tax Updates,” where he focused on recent significant BIR and PEZA issuances such as the Guidelines and Procedures in the Application for Revalidation of Tax Credit Certificate and Supplemental Guidelines on Report Submission of ATIR and ABR under MC No. 2022-031. He also discussed Court of Tax Appeals (CTA) rulings on Letters of Assessment and Seizures and Detention of the BIR.   ABI and Atty. Alden were joined by Mr. Lim Teck Ch’ang, Industry Advisor of SAP Philippines Inc., who led the discussion on “Digital Finance Transformation”. He talked about the opportunities for digital transformation in the manufacturing industry and the importance and challenges of going digital. The speakers subsequently addressed questions and clarifications from the participants in the open forum. About 79 ASEFEX members, including SEIPI partners and stakeholders, attended the assembly. Participation in the virtual briefing was coordinated by Logistics Market Sector Leader and Tax Principal Stephanie V. Nava (SVN) and Technology Sector Leader and Assurance Partner Manolito R. Elle (MRE). Tax Senior Associates Lauren Antonette M. Mendoza, Kierk Robin M. Ret, and James E. Gregorio were part of the organizing team.

Members of the SGV Tax team headed by Tax Partner Cheryl Edeline C. Ong (CCO) facilitated a webinar entitled “Extending Business Operations with Confidence: A Step-by-Step Guide to the Philippine Incorporation Process” in collaboration with the European Chamber of Commerce of the Philippines (ECCP) on 28 July 2022. SGV Tax Team with ECCP Tax Senior Director Anne Margaret E. Momongan discussed the different types of business enterprises, as well as the legal bases for incorporation, with a focus on the Revised Corporation Code (R.A. 11232, as amended) and relevant Memorandum Circulars from the Securities and Exchange Commission (SEC).  Meanwhile, Tax Director Virnee Joy T. Agot-Ting guided participants through the SEC’s Electronic Simplified Processing of Application for Registration of Company (eSPARC) system. She also talked about the registration requirements to be submitted to other government agencies, relevant deadlines, and the recently relaunched Philippine Business Hub. Tax Senior Associate Marla Arielle B. So moderated the live Q&A event while Tax Senior Associate Joseph Santiago E. Quiño was part of the event’s organizing team.

SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) was one of the speakers at the 9th PICPA Cebu Summit held at the Radisson Blu Hotel, Cebu City from 21 to 22 July 2022. SGV was a co-presenter of the Summit. WPT during the Summit WPT talked about the future of Sustainability Reporting and other Financial Reporting implications. He discussed the current landscape of sustainability reporting, International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards Exposure Drafts, the financial reporting implications of COVID-19, and some accounting issues in relation to the war in Ukraine. Meanwhile, SGV Tax Partner Atty. Cheryl Edeline C. Ong (CCO) served as a moderator in one of the talks during the first day. CCO received the Presidential Service Award from the PICPA Cebu Chapter in grateful appreciation of her outstanding performance, enormous contributions, wholehearted dedication, and selfless service to the Chapter and its general membership in FY 2021-2022. The SGV Cebu booth at the summit was manned by Managers Shea Go, Jayvee Anga, GJ Cobosa and Seniors Atty. Ernest Co and Nikko Recentes.

Climate Change and Sustainability Services (CCaSS) Senior Associate Joshua R. Ladia ranked 4th in the recently concluded Environmental Planner Licensure Examination (EPLE). 108 out of 178 examinees passed the licensure examination given by the Board of Environmental Planning in July 2022. The date and venue of the oathtaking are yet to be announced. EPLE 4th placer, Senior Associate Joshua Ladia The EPLE covers the following topics: General Instructions and Filling-out of Forms; Environmental Planning Processes, Techniques, and Strategies; History, Concepts, Theories, and Principles of Environmental Planning; Environmental Plan Implementation, Legal Aspects and Administration.  Congratulations, Joshua!

SGV Cebu held its first in-person recruitment event in over two years since the pandemic began. The event was held at SGV Cebu’s new office on 21 July 2022. Over 70 graduate and undergraduate students from various universities in the Visayas region attended the event. WPT with the students SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) and SGV Cebu Partner-in-charge Margem A. Tagalog (MAT) welcomed the students. WPT gave his opening remarks and provided a brief introduction to the Firm. The students were also given an overview of the services being offered by the Firm. SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz (VCR), Assurance Leader Martin C. Guantes (MCG), Strategy and Transactions (SaT) Partner Marie Stephanie C. Tan-Hamed, and Global Compliance & Reporting (GCR) Partner Saha A. Bulagsak (SAB) explained the functions of each service line. The students participated in a series of meet and greet/networking sessions with the SGV leaders and other SGV partners who also attended the event, namely Veronica R. Pore (VRP), Leovina Mae P. Villa-Chu (LVC), Jhoanna C. Go (JCG), Jose Raoul J. Balisalisa (JJB), Josenilo G. Mendoza (JGM), Ma. Genalin Q. Arevalo (MQA), Genghis O. Grospe (GOG), and Cheryl Edeline C. Ong (CCO). There were also trivia games where special prizes were awarded to the winners.  The recruitment event concluded with a closing message from Talent Leader Julie Christine C. Ong-Mateo (JOM). JJB was the emcee for the event. 

Ten SGV Partners and one Manager were sworn into national, regional, and chapter officer positions during the Philippine Institute of Certified Public Accountants (PICPA) turnover and induction ceremonies held on 24 June 2022 at The Oriental Leyte. PICPA officers and members Outgoing President Marydith C. Miguel turned over PICPA leadership to Dr. Erwin Vincent G. Alcala and the new set of officers. She also expressed her gratitude for the opportunity of a lifetime to serve the Institute in such a capacity. She capped off her message by recounting the achievements and accomplishments of the organization during her term and expressed hope for the continuity of these programs. The following SGV Partners and Manager were inducted into national, regional, and chapter offices: Marydith C. Miguel – ex-officio President; Chair, Awards CommitteeJohn T. Villa – Treasurer, PICPA National Board; Chair, Investments CommitteeLucy Lim-Chan – Chair, Ethics CommitteeSonia D. Segovia – Chair, Accountancy Week CelebrationJoseph Ian M. Canlas – Chair, Risk Management CommitteeMaricris U. See – Chair, Annual Planning Conference CommitteeHentje Leo L. Leaño – Co-chair, Annual National Convention CommitteeMeynard A. Bonoen – Chair, Induction and Turnover Ceremonies CommitteePeter John R. Ventura – Chair, Membership Development CommitteeMichael A. Madlangbayan – President, Eastern Metro Manila Chapter; Co-chair, Accountancy Week CelebrationMeynard L. Sardalla – Co-Chair, Annual Planning Conference Committee They were inducted into office by the Professional Regulatory Board of Accountancy (PR BOA) Chair, Hon. Noe G. Quiñanola.

SGV Cebu hosted cocktails on 20 July 2022, with SGV Cebu clients and SGV leaders in attendance. SGV ChairmanWilson Tan giving his welcome remarks SGV Chairman and Country Managing Partner Wilson P. Tan welcomed everyone to the event and talked about how glad he was to have the opportunity to reconnect with clients and friends and reestablish professional relationships with the Visayas business community as the country recovers from the challenges brought by the COVID pandemic. He also spoke about SGV Cebu's contribution to the province through the Firm’s active involvement in various projects in the local business community, professional organizations, and local community efforts.  “We will maintain our innovative edge by continuing to anticipate the City’s and the region’s changing business needs and build the highest-performing teams that can ably and effectively address these needs. With our Cebu team leading the way, we are confident that SGV Cebu will continue to grow and shine in keeping with our Purpose of nurturing leaders and enabling businesses to build a better Philippines for our people, clients, and communities,” Wilson said. SGV Partners and clients Meanwhile, Assurance Leader Martin C. Guantes emphasized the Firm’s continuing commitment to improve knowledge and skills for audit quality to enhance investor confidence. SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz and Market Group 4 leader Veronica R. Pore thanked everyone for their continued trust and confidence in SGV. SGV Partners and clients SGV Cebu Partner-in-charge Margem A. Tagalog led a toast to the deep friendship and professional relationship between SGV and the Visayas business community. The SGV Cebu office managers also gave the clients a brief guided tour of the new office. Cebu Senior Tax Associate Atty. May Matuguina was the emcee during the event.  SGV Partners and clients SGV Partners Jun T. Torres, Michael C. Sabado, Alvin M. Pinpin, Aris C. Malantic, Jhoanna C. Go, Jose Raoul Balisalisa, Cheryl C. Ong, Saha A. Bulagsak, Ma. Genalin Q. Arevalo, and Genghis O. Grospe also attended the event.