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.
