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SGV Global Compliance and Reporting (GCR) Partner Hentje Leo L. Leaño (LLL) was the resource speaker at the Philippine Institute of Certified Public Accountants (PICPA) Nueva Ecija Chapter seminar on tax updates during the Chapter’s general membership meeting on 9 April 2023 at the M Palm Event Center in La Torre, Talavera, Nueva Ecija. More than 100 Certified Public Accountants (CPAs) from different industries attended the meeting. Leo receives plaque of appreciation Leo discussed recent tax updates from decisions of the Court of Tax Appeals (CTA) and Supreme Court (SC) as well as recent issuances of the Bureau of Internal Revenue (BIR). The seminar concluded with the awarding of a plaque of appreciation to Leo by Association of CPAs in Commerce and Industry (ACPACI) National President Anna Lissa Chua-Dycaico, PICPA Nueva Ecija Chapter President Aileen Fae M. Africa, and Ex-Officio President Ronald Leabres. SGV GCR Associate Director David Jonathan F. Manalili was also present during the event.

SGV Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi (VAB) was a resource speaker at the Philippine Institute of Certified Public Accountants (PICPA) Quezon Province Chapter Anti-Money Laundering (AML) and Counter Terrorist and Proliferation Financing (CTPF) technical training held on 10 March 2023 via Zoom. FSO Associate Director Juan Paolo Gaco together with Associates Rubin Hollero II and Coleen Mae Panuela acted as facilitator and presenters at the training.  Event poster Veronica (top left) with the training participants Veronica gave an overview of money laundering and terrorist and proliferation financing. She also discussed recent regulatory updates on AML/CTPF, sample typologies and actual cases relevant to the industry, and preventive measures of covered persons/institutions for accountants and accounting firms. VAB wrapped up the training session with a message on accountants playing a vital role in combating money laundering. 

The SGV Clark Tax team hosted an in-person tax updates seminar with the Clark Investors and Locators Association (CILA) at the SGV Clark Office on 10 March 2023, with more than 150 attendees. The seminar focused on customs compliance, transfer pricing rules, and the electronic invoicing system for various Clark locators. Event poster Leo, Auresana, Margaux, Assistant Commissioner Janette Cruz, CILA President Dr. Frankie Villanueva, Ana, and Victor CILA President Dr. Frankie Villanueva kicked off the event by welcoming various Clark locators and delivering his opening remarks. SGV Tax Partners Atty. Victor C. De Dios (VCD) and Atty. Ana Katrina C. de Jesus (ACJ), and BIR Assistant Commissioner for Client Support Service Janette Cruz were the speakers for the seminar. They discussed updates on their respective topics while SGV Clark Partner-In-Charge and Head Atty. Margaux A. Advincula (MAA) moderated the Q&A session.  Margaux (right) during the Q&A session SGV Tax Partners with BIR RDO 21C Chief Juvy Dela Peña, BIRAssistant Commissioner Janette Cruz, and CILA President Dr. Frankie Villanueva SGV Global Compliance Reporting (GCR) Partner Hentje Leo L. Leaño (LLL), Tax Partner Auresana B. Ines (ABI), Market Group 7 Leader Jose E. Pepito Zabat (JEZ), and Tax Senior Associate Atty. Fatima Kate Garo also attended the event. BIR RDO 21C Deputy Chief Juvy Dela Peña was one of the guests. 

SGV Assurance Partner and PICPA National Sectoral Director for Public Practice John T. Villa (JTV) and SGV Tax Partner and PICPA Metro Manila Region (MMR) Regional Sectoral Representative for Public Practice Maricris U. See (MUS) together with PICPA National Summit on Public Practice Committee member and Tax Senior Director Meynard Sardalla and Tax Associate Director Edsel Francis Lima, organized the first PICPA National Summit on Public Practice. The PICPA National Summit on Public Practice Core Team facilitated the summit from 31 January to 1 February 2023, at the Century Park Hotel, Manila with the theme “Sustaining the Public Practice Profession in the Philippines by Playing it Forward – with Quality.” The summit covered some of the hot topics on quality assurance review (QAR), updates on the BOA accreditation, accounting and other tax topics which are relevant to public practitioners. More than 200 public practitioners from all over the country attended the summit. Meynard, Maricris, John, and Edsel at the summit Philippine Regulatory Board of Accountancy Chair Hon. Noe Quiñanola shared updates and a timeline of the Quality Assurance Review (QAR) program, while Hon. Thelma Ciudadano discussed QAR focus areas. SGV Professional Practice Director and Head of Risk Management Lucy L. Chan (LLC) highlighted the importance of an effective internal control system and risk assessment in conformity with ISA 315 (Revised) - Assessing the Risks of Material Misstatement. SGV GCR Leader Sonia D. Segovia (SDS) was also present during the event and introduced one of the resource speakers. Tax Senior Director Meynard Sardalla was the master of ceremonies for the first day of the summit. Lucy (left) and Roel (right) during their respective technical sessions Maricris moderates panel discussion on e-invoicing On the second day, PRBOA Vice Chair Hon. Atty. Samuel Padilla discussed PRC Resolution No. 53 with updates on the BOA accreditation requirements for CPAs in public practice and the education sector. SGV Accounting Standards Group and International Financial Reporting Standards Leader Roel E. Lucas (REL) facilitated the discussion on the exposure draft on IFRS for SMEs. Other resource speakers covered topics such as the economic forecast for the Philippines, common 2021/2022 SEC findings, tax implications of online transactions, and the e-invoicing system of the BIR. Maricris moderated the discussion on the challenges encountered in the implementation of e-invoicing in the Philippines. 

SGV Climate Change and Sustainability Services (CCaSS) Partner Katrina F. Francisco (KFF) and Philippine Institute of Certified Public Accountants (PICPA) Small and Medium-Sized Entities (SMEs) & Small and Medium-Sized Practitioners (SMPs) Development Committee Member and CCaSS Director Crystal Aleli R. Cornell joined the PICPA 2023 SMEs and Practitioners Summit with the theme “Play it Forward: Securing a Sustainable Future through SMEs and SMPs,” on 27 February 2023 via Zoom. The Summit aimed to update the participants from SMEs and SMPs on current regulatory policies and pronouncements affecting their operations, as well as on IT and new business trends that will enhance their operational efficiency. Katrina (top left), Crystal (bottom left), PICPA SME & SMP Development Committee Chair Jacqueline Yu Villar (top right) and PICPA National Committee on Sustainability and ESG Reporting Chair Michael C. Gallego (bottom right) Katrina receives Plaque of Appreciation from PICPA Katrina talked about sustainability and SMEs’ role in achieving the Sustainable Development Goals (SDGs). She discussed how the integration of environmental, social and governance (ESG) factors into business models, decision-making, and capital allocation can transform businesses and enable sustainable development. She mentioned that SMEs are critical to the health, stability, and sustainability of the global economy. She also discussed the benefits of ESG integration to SMEs and how SMEs can approach, measure, and report their SDG contributions. In the open forum, Katrina answered questions related to her discussion while Crystal served as the moderator. The webinar concluded with the presentation of plaques of appreciation to the resource speakers. The webinar is part of the three-day SMEs and Practitioners Summit organized by the PICPA National SMEs & SMPs Development Committee.

SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula (MAA) was a Q&A facilitator during the General Membership Meeting organized by The American Chamber of Commerce of the Philippines, Inc. (AmCham) North Luzon, which was held at the Clark Marriott Hotel, Clark, Pampanga on 17 January 2023. Atty. Margaux and Ms. Karen during the Q&A portion Atty. Margaux (second from left) with AmCham Philippines President Frank Thiel (leftmost), AmCham Philippines Executive Director Ebb Hinchliffe (second from right), and a participant During the Q&A portion of the event. Atty. Margaux relayed questions to Business and Investment Department for Manufacturing and Maritime of the Subic Bay Metropolitan Authority (SBMA) Department Manager Karen G. Magno regarding areas covered in Ms. Magno’s presentation at the meeting. The General Membership Meeting was attended by AmCham members from North Luzon. Among the attendees were AmCham North Luzon President Goeran Soelter, AmCham Philippines President Frank Thiel, and AmCham Philippines Executive Director Ebb Hinchliffe.

SGV Climate Change and Sustainability Services (CCaSS) Partner Katrina F. Francisco (KFF) was the resource speaker at the Philippine Institute of Certified Public Accountants (PICPA) Western Metro Manila Chapter (WMMC) webinar on sustainability and small and medium-sized enterprises (SMEs) on 22 February 2023 via Zoom. Katrina talks about sustainability and SMEs Katrina discussed the definition of sustainable development, the benefits of Environmental, Social, and Governance (ESG) integration, reasons for why sustainability is not entrenched in SMEs, and how SMEs can start their sustainable transformation journey. Katrina also covered the Sustainable Development Goals (SDGs), the role of Micro, Small and Medium Enterprises (MSMEs) in achieving the SDGs, and how MSMEs contribute to the five SDGs goals, namely No Poverty (SDG 1), Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9), Reduced Inequalities (SDG 10) and Climate Action (SDG 13).

The SGV Tax team held the 2nd Business Tax Services (BTS) Forum at the Washington SyCip Development Center on 2 February 2023, with about 100 participants in attendance. The forum focused on the 2023 outlook from a tax perspective. EY Asean and SGV BTS Leader Jules E. Riego (JER), Office of the Presidential Adviser on Investment and Economic Affairs Project Lead Rafael Jose Consing, Jr., Vice Chair and Deputy Managing Partner Vivian C. Ruiz (VCR), and Tax Senior Director Atty. Cecille Visto Vice Chair and Deputy Managing Partner Vivian C. Ruiz (VCR) kicked off the event by delivering her opening remarks. For the technical sessions, resource speakers from the National Economic and Development Authority (NEDA), the Board of Investments (BOI), and the Bureau of Internal Revenue (BIR) discussed Philippine economic updates, developments in the implementation of the ease of doing business law, and tax controversy trends.  SGV General Counsel and Tax Partner Atty. Carol A. Racelis (CAR), BIR Legal Service Assistant Commissioner Larry M. Barcelo, SGV Clark Partner-in-Charge and Head Margaux A. Advincula (MAA), Chief of the BIR Law and Legislative Division Atty. Juanito H. Balbastre III, and JER NEDA Director for National Policy and Planning Desiree Narvaez described economic growth despite the pandemic while BOI Executive Director Atty. Bobby Fondevilla of the Investment Assistance Center talked about the government’s programs to attract more investors in the Philippines. BIR Assistant Commissioner for Legal Service Atty. Larry Barcelo discussed pressing tax issues in line with the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Vivian delivers her opening remarks EY Asean Tax Leader Amarjeet Singh and EY Asean International Tax and Transactions Services Leader Chester Wee led the discussions on tax controversy trends in the ASEAN region and provided updates on Base Erosion and Profit Shifting (BEPS) 2.0. The forum was spearheaded by EY Asean and SGV BTS Leader Jules E. Riego (JER) and SGV Clark Partner-in-Charge and Head Margaux A. Advincula (MAA). SGV Quantitative Services Leader and Asean Tax Transformation Leader Cheryl Edeline C. Ong (CCO), SGV General Counsel and Asean Tax Quality Leader Carolina A. Racelis (CAR), and BTS Partner Tesi Lou S. Guanzon (TSG) moderated the sessions. Tax Senior Directors Donna Frances Ylade-Torres, Cecille Visto, and Salvador Rey from the Tax Markets team organized the event, with the support of Tax Senior Directors Michelle Arias, Jaclyn Ordoñez and June Catherine Tañedo; Directors Marian Santos and Kevin Paolo Magtibay; and Associate Directors Frederick Abella, Eden Mae Galas, Phillip Dave Cachapero, and Sheena Marie Morale. The BTS Forum is an annual thought leadership event organized by the BTS group specifically tailored for SGV clients and stakeholders, with well-curated up-to-date topics relevant to the participants. The second part of the BTS Forum, a roundtable meeting with the BIR Officers from Revenue Region 8B, was held on 8 March 2023.

SGV Clark Partner In-Charge and Head Atty. Margaux A. Advincula (MAA), Assurance Senior Director Leo Canlas, and Tax Senior Associate Atty. Fatima Kate Garo paid a courtesy call on Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Rolen C. Paulino and Subic Bay Freeport Chamber of Commerce (SBFCC) Executive Director Donna Tamayo on 25 January 2023. Assurance Senior Director Leo Canlas, SGV Clark Partner In-Charge and Head Atty. Margaux A. Advincula (MAA), SBMA Chairman and Administrator Mr. Rolen C. Paulino, Tax Senior Associate Atty. Fatima Kate Garo, and SBMA Account Officer Virgilio G. Valdez Atty. Margaux, SBMA Chair Paulino, and Atty. Fatima during the meeting Leo, SBFCC Director Marites Endaya, Atty. Margaux, SBFCC Executive Director Tamayo, and Atty. Fatima The SGV Clark team paid a visit to SBMA Chairman Paulino at the Subic Bay Metropolitan Authority. They were accompanied by SBMA Account Officer Virgilio G. Valdez. The team also visited SBFCC and met with Executive Director Tamayo and Director Marites Endaya. The courtesy calls were in line with the preparation and planning for the various collaborative activities of SGV Clark, SBMA and SBFCC including the forthcoming launch of the Doing Business in Subic publication. 

SGV Partners and IT & Business Process Association of the Philippines (IBPAP) officers paid a courtesy call on Clark Development Corporation (CDC) President and CEO Atty. Agnes VST Devanadera to discuss collaborative activities in Clark. They also met with key officers of 29 top Clark-based Information Technology and Business Process Management (IT-BPM) registered enterprises for a roundtable meeting and luncheon on 17 March 2023 at the SGV Clark office. SGV Partners with IBPAP President and CEO Jack Madrid, IBPAP Chief Policy and Regulatory Affairs Officer Celeste Ilagan, and CDC President and CEO Atty. Agnes VST Devanadera Roundtable panelists Roundtable meeting attendees SGV Clark Partner-In-Charge and Head Margaux A. Advincula (MAA), Market Group 7 Leader Jose Pepito E. Zabat III (JEZ), Tax Leader Atty. Fabian K. delos Santos (FKS), Assurance Partner Manolito R. Elle (MRE), Tax Partner Auresana B. Ines (ABI), IBPAP President and CEO Jack Madrid, and IBPAP Chief Policy and Regulatory Affairs Officer Celeste Ilagan joined the courtesy call with CDC President and CEO Atty. Devanadera. They also joined more than 50 guests from IT-BPM-registered companies and other guests invited by the CDC for a roundtable discussion on plans for upcoming activities to be held in Clark. CDC representative Asst. Manager for Investments Promotion Division Mr. Erwin Pattaui and Clark Investors and Locators Association (CILA) President Dr. Frankie Villanueva joined the panel during the roundtable discussion.