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Members of the SGV Clark team paid a courtesy call on newly appointed Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan D. Tan on 30 August 2023 at the SBMA office.  (From left to right) Senior Director Niño Canlas, Associate Director Elgina Rito, Tax Partner Hentje Leo L. Leaño, SBMA Chair and Administrator Jonathan Tan, SGV Clark Partner In-Charge and Head Atty. Margaux A. Advincula, Senior Associate Atty. Fatima Garo, and SBMA Chief of Staff Martin Roman at the SBMA office SGV Clark Partner In-Charge and Head Atty. Margaux A. Advincula, Tax Partner Hentje Leo L. Leaño, Assurance Senior Director Leo Niño Canlas, Global Tax Compliance Associate Director Elgina Rito, and Tax Senior Associate Atty. Fatima Kate Garo congratulated Mr. Tan on his appointment as the new SBMA Chairman and Administrator. They also discussed new collaboration on several tax and investment initiatives to promote the ease of doing business for SBMA locators, including updates on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. They were accompanied by SBMA Chief of Staff and Deputy Administrator for Port Operations Atty. Martin Kristoffer F. Roman.

SGV, represented by Chairman and Country Managing Partner Wilson P. Tan and Consulting Partner and iTeach Program Director Allan W. Ocho, and PHINMA Education Holdings, Inc., represented by Country Head Christopher Tan, signed a Memorandum of Understanding (MOU) on 8 August 2023 for PHINMA schools to participate in the SGV iTeach Program. Signing the MOU are (from left to right) SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz, Consulting Partner and iTeach Program Director Allan W. Ocho, SGV Chairman and Country Managing Partner Wilson P. Tan, PHINMA Education Country Head Christopher Tan, and PHINMA Araullo University College of Management and Accountancy Dean Emerita Modesto. The SGV iTeach Program aligns with the Firm's commitment to continue its late founder Mr. Washington SyCip's advocacy for lifelong learning. The advocacy program aims to enable educators by updating them on the latest accountancy and technology trends and helping them bridge the gap between theoretical principles and actual practice. This includes collaborations with schools and professional organizations to facilitate training and workshops, provide inputs to the schools' programs, curricula and syllabi, develop case studies, and provide guest lecturers. Present in the photo are (from left to right) SGV Senior Director Elvin Mercader, SGV Assurance Leader Martin C. Guantes, Consulting Partner and iTeach Program Director Allan W. Ocho, SGV Vice Chair and Deputy Managing Partner Vivian C. Ruiz, SGV Chairman and Country Managing Partner Wilson P. Tan (WPT), PHINMA Education Country Head Christopher Tan, PHINMA Araullo University College of Management and Accountancy Dean Emerita Modesto, PHINMA Education Country Chief Learning Officer Glenn Laigo, PHINMA Araullo University Dean Marvin Salviejo, SGV Assurance Partner Belinda T. Beng Hui, and SGV Business Consulting Senior Jervie Sta. Ana. In addition to providing training and workshops, SGV also explores the possibility of an online community where educators can come together to share best practices. To date, the SGV iTeach Program has been able to reach out to and build awareness with around 7,000 teachers, students, and other professionals across the country.  The MOU signing took place at the SGV Museum at Shang Grand Tower, Makati City. Dean Emerita Modesto of the College of Management and Accountancy of PHINMA Araullo University and SGV Vice Chair and Deputy Managing Partner Vivian Ruiz acted as witnesses. Also in attendance were SGV Assurance Leader Martin Guantes, SGV Assurance Partner Belinda T. Beng Hui, SGV Senior Director Elvin Mercader, SGV Business Consulting Senior Jervie Sta. Ana, PHINMA Education Country Chief Learning Officer Glenn Laigo, and Dean Marvin Salviejo of PHINMA Araullo University.

SGV signed a Memorandum of Agreement (MOA) with the Surigao Del Norte Provincial Government to produce the Doing Business in Surigao del Norte publication. The MOA was signed on 8 August 2023 by SGV Country Managing Partner Wilson P. Tan and Provincial Governor Robert Lyndon S. Barbers. SGV and Surigao Del Norte MOA signing  District II Congressman Robert Ace S. Barbers, Surigao City Mayor Pablo Yves L. Dumlao II, and SGV Strategy and Transactions Partner and Government and Public Sector Leader Marie Stephanie Tan-Hamed signed the MOA as witnesses.  SGV Partners and Surigao Del Norte public officials during the MOA signing Wilson delivered the welcome remarks, while Governor Robert, Mayor Pablo and District II Congressman Robert gave short messages. Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz, EY Asean Consulting Quality Leader Joseph Ian M. Canlas, Financial Services Organization (FSO) Leader Christian G. Lauron, and Global Compliance & Reporting (GCR) Partner Saha A. Bulagsak were also present during the MOA signing. The Doing Business in Surigao Del Norte publication is part of SGV’s Doing Business in the Philippines series. The publication aims to provide comprehensive information about the business climate, investment opportunities, and regulatory framework in Surigao Del Norte. It will serve as a valuable resource for local and foreign investors looking to explore the province's potential for economic growth. 

Philippine Institute of Certified Public Accountants (PICPA) Angeles City Chapter officers paid a courtesy call on SGV Clark Partners and staff on 21 July 2023. SGV Clark team with PICPA officers The SGV Clark team was led by SGV Clark Partner-in-Charge Margaux A. Advincula. Members included MG7 Leader Jose Pepito Zabat, Tax Partner Hentje Leo L. Leaño, Senior Director Leo Niño Canlas, Associate Directors David Jonathan Manalili, Ezra Yumul, and Elgina Rito, and Senior Associate Angelie Marcelo. They met with PICPA Angeles City Chapter President Aira Vanessa Berces-De Guzman, Public Practice Director Marielle Pamintuan-Palo, Commerce and Industry Director Julyn Nyril Tiatco-Santos, PICPA Angeles City Secretarial Leilani Pablico, and Treasurer Donald Yanga. The teams discussed possible projects, programs, collaborations, and thought leadership activities between the PICPA Angeles City Chapter and SGV Clark. 

SGV Baguio conducted a two-day Tax Compliance Seminar from 27 to 28 July 2023 at the Venus Parkview Hotel, Baguio City. The seminar discussions focused on the taxation of local accounts payable (AP) process and tax assessment backroom support. It also highlighted the strict rules on substantiation for input VAT and income tax purposes. Eighty-eight participants from various companies attended the event.Leo at the Tax Compliance Seminar SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño discussed the basic concepts of input value-added tax (VAT), guidance in determining the proper expanded withholding tax (EWT) base and applicable EWT rates on local purchase transactions, and rules in claiming income tax deductions. He also provided a bonus discussion on the preparation of documents and information for tax assessments. Leo facilitates interactive exercises

SGV Transaction Diligence Partner and Asian Institute of Management (AIM) alumnus Miguel Carlo “Mickey” S. Rancap was a speaker at the inaugural General Assembly of the AIM Management Consulting Club on 5 August 2023 at AIM. Over 130 AIM graduate school students attended the event. Mickey talks about becoming better business advisors In line with the General Assembly’s objective to inform and inspire, Mickey talked about client-centric behaviors that help one succeed as a business advisor. He shared that every conversation that business advisors have with their clients is an opportunity to advance the relationship, to build trust, to get to know them and their business better. Mickey emphasized the need to cultivate a client-centric mindset that embodies behaviors such as asking better questions, listening proactively, relating empathically, and contributing insightfully. AIM Management Consulting Club Inaugural General Assembly attendees He also mentioned that business advisors should not only provide technical expertise but should also align with the clients’ needs that are broader in focus and more strategic in nature. He added that this will provide the opportunity to enhance, augment, and improve their client relationships. Mickey concluded that a business advisor's role is to utilize a strategic approach to better understand the clients’ issues, and help clients achieve their objectives and address their pressing problems. The business advisor does not only provide answers; he shows clients how to arrive at the most logical and conclusive solutions. Strategy and Transactions (SaT) Associate Director William Angelo G. Lim, a fellow AIM alumnus, also attended and supported Mickey during the event.

The SGV global bank team led by SGV Assurance Partner Janeth T. Nuñez-Javier and Business Consulting – Risk Partner Conrad Allan M. Alviz conducted a tree planting activity at the Laguna-Quezon Land Grant in Siniloan, Laguna. The Laguna-Quezon Land Grant is part of the Sierra Madre reforestation and rehabilitation efforts. SGV global bank teammembers The SGV global bank team (Assurance, Consulting-FAIT) planted 150 bani native trees as part of the EY global bank team’s corporate social responsibility (CSR) activities. The SGV team’s tree-planting activity, which coincided with Philippine Arbor Day, was in line with the SGV global bank team’s goal to contribute to the preservation of Philippine biodiversity and promote sustainable practices in the community. Janeth plants bani native tree SGV global bank teammembers during the tree planting activity 

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte was a panelist in the Philippine Power Plant Energy Summit panel discussion on the topic “The Future of Energy Sector in the Philippines” held at Novotel Manila, Araneta Center, Quezon City. Benjie (second from left) with the other panelists and moderator during the panel discussion Benjie stressed the significance of environmental, social, and governance (ESG) in initiatives related to community life and poverty alleviation. He talked about economic and ESG goals and third-party assurance. He also advocated for the adoption of the new International Sustainability Standards Board (ISSB) Sustainability Reporting Standards to improve sustainability reporting. Benjie underlined the importance of hybrid sources, greenhouse gas accounting, sustainability reporting, and profitability for climate adaptation, resilience, and community support. He noted the need for enterprise risk management to consider the importance of climate scenario analysis and recognize transition risks in a low-carbon economy. Benjie (second from left) with the other panelists and moderator receiving their plaques of appreciation He further highlighted that acquiring carbon credits is not a license to pollute and that emission reduction actions should take precedence over purchasing credits. According to Benjie, the Philippines has the capacity to generate carbon credits, but there is no framework in place yet to ensure compliance with Nationally Determined Contributions (NDCs). Benjie (second from right) with CCaSS Manager Judd P. Tablazon and CCaSS Senior Associates Joyce Anne A. Soriano and Louie Adrianne R. CediñoOther panelists were Renewable Energy Association of the Philippines President Erel Narida and AboitizPower Chief Operating Officer for Power and Aboitiz Data Innovation and Chief Data and AI Officer Luis F. Gonzalez. Quisumbing Torres Partner Atty. Dennis A. Quintero served as the moderator. The Philippine Powerplant Energy Summit gathered government authorities, stakeholders, experts, and contractors to promote renewable energy mix, including coal-based electricity generation, using cutting-edge technology, practices, and equipment.

SGV Indirect Tax (IDT) Principal Atty. Alden C. Labaguis was a resource speaker at the "VAT Zero Rating on Local Purchases" seminar organized by PortCalls and the Philippine Multimodal Transport and Logistics Association, Inc. (PMTLAI) on 4 August 2023. About 140 participants and representatives from different logistics companies in the Philippines attended the event, which was held at the Ballroom of Citadines Bay City Manila.  Event poster Alden led the topic discussion on VAT Zero Rating on Local Purchases and discussed several BIR issuances. He also discussed common issues that may be encountered by taxpayers when applying for VAT refund. Alden interactively addressed questions from the participants during the open forum toward the end of the seminar. SGV Tax team with PEZA and PortCalls representatives PMTLAI Training and Education Chair Doris Torres delivered the welcome remarks, while Philippine Economic Zone Authority (PEZA) Deputy Director General (DDG) on Operations Vivian Santos discussed recent PEZA updates. DDG Santos also addressed questions from the participants after her discussion. Alden led the SGV coordinating team for the seminar. He was assisted by IDT Associate Director Atty. Lauren Antonette M. Mendoza, and IDT Senior Associates Attys. Kierk Robin M. Ret and Natividad G. Busa. International Tax and Transaction Services (ITTS) Partner Atty. Auresana "Rhena" B. Ines, ITTS Senior Associates Attys. Ronalyn L. Mamauag and Warlyn D. Dumo, along with Executive Assistant Cristine D. Limho also attended the event.

SGV Chairman and Managing Partner Wilson P. Tan and Strategy and Transactions (SaT) Partner Marie Stephanie Tan-Hamed represented SGV at the contract signing with the Department of Transportation (DOTr) on 18 August 2023. SGV is one of the professional services firms undertaking feasibility studies on various transportation transformation projects. SGV will be undertaking a feasibility study for the Manila Bay – Pasig River – Laguna Lake Ferry System project. (From left to right) Strategy and Transactions (SaT) Partner Marie Stephanie Tan-Hamed, DOTr Secretary Jaime Bautista, SGV Chairman and Managing Partner Wilson P. Tan, EY Singapore Partner Lynn Tho, and USEC TJ Batan at the contract signing Other signatories and attendees included DOTr Secretary Jaime Bautista, USEC TJ Batan, PPP Center Executive Director Ma. Cynthia Hernandez, PPP Center Deputy Executive Director Eli Ricote, EY Singapore Partner Lynn Tho, representatives from other consultants, and other officials of the PPP Center and the DOTr.