SGV Consulting Principal Evert de Bock (EDB) and IDT Senior Director Alden Patrick C. Labaguis conducted a webinar on “How CFOs Can Transform Finance in the Age of Disruption” and “Common Tax Issues and Handling BIR Tax Audit” on October 15, 2021. Hosted by the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI), the webinar was attended by participants from member companies in the technology industry (including semiconductors).
SEIPI technology webinar speakers
EDB’s discussion focused on adopting Agile Finance in a Digital World and on how to respond to changing markets by providing timely, accurate and efficient solutions. He discussed the disruptive forces at work and how clients can effectively address them by introducing the Four Finance Transformative Solutions, namely: Digital Finance, Value and Performance Management, Compliance & Regulatory Value Protection, and Global Business Services. EDB pointed out that the CFO role is changing as it is disrupted by a range of forces: digital acceleration, volatility, and intense scrutiny; thus, he emphasized that by using digital technologies and other enablers, finance shifts the focus to “value” vs. just “cost”.
Alden discussed common tax issues encountered by PEZA-registered entities and provided insights on handling BIR tax audits. He specifically noted the common tax issues during a tax audit including incentive-related and allocation concerns, legal bases which may aid to refute the tax authorities’ allegations, as well as the necessary documents for supporting the assertions.
The webinar concluded with an open forum where the speakers addressed the participants’ questions. Participation in the virtual briefing was coordinated by Logistics Industry Leader and Tax Principal Stephanie V. Nava (SVN) and Technology Industry Leader and Assurance Partner Manolito R. Elle (MRE). The briefing’s coordination and organizing team included IDT Associate Director Gracia Mae A. Beronilla and IDT Senior Associate Roland Joseph C. Mendoza.
