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Tax Principal Jules E. Riego (JER) was a speaker at a webinar hosted by Security Bank’s Trust and Asset Management Group on 23 February. Over 75 participants joined the event where JER and Security Bank Trust and Asset Management Group Sales and Client Acquisition Head Carmela Lim discussed how participants can enhance their estate and wealth planning by establishing a Personal Management Trust. JER shared insights on how the COVID-19 pandemic has shifted people’s perspectives on wealth planning, sharing that most now prefer to plan early. He also provided tips on how participants can plan their estate and grow their wealth for retirement and ensure fairness among receiving family members. Ms. Lim then encouraged participants to appoint a trustee who will serve as the non-partisan holder of an estate, emphasizing that this will help better protect their assets and reduce conflicts among family members.

Tax Partner Cheryl C. Ong (CCO) was a speaker at a business briefing on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill hosted by the Canadian Chamber of Commerce of the Philippines (CanCham) last 18 February. CanCham Membership Coordinator Abi Tizon welcomed participants to the briefing and CanCham President and CEO Julian Payne delivered the opening remarks. CCO discussed the bill’s salient provisions and proposed adjustments in corporate income tax and fiscal incentives as ratified by the bicameral conference committee. She also provided insights on how participants can maximize the incentives under the bill. Her presentation was followed by a panel discussion with executives from a law office and a professional services firm. They discussed how the CREATE bill will benefit small and medium-sized enterprises, large companies, and local government units outside the National Capital Region and metropolitan areas. They also explained the bill’s immediate impact on the economy and businesses.

SGV Talent Associate Director Luisa Hebron was among the speakers at the #ForwardThinkingFlex: Making Flexible Work, Work webinar hosted by the Philippine Business Coalition for Women Empowerment (PBCWE), the Philippine Women’s Economic Network (PhilWEN), the Management Association of the Philippines (MAP), and Investing in Women (IW) last 16 February. Other speakers included human resources executives and managers from government agencies and business organizations. They discussed the value of a Flexible Work Arrangement (FWA) in promoting workplace gender equality and diversity & inclusion. They also identified practical recommendations to help companies develop sustainable and effective FWA policies and practices. Luisa began her presentation with an overview of SGV’s commitment to diversity & inclusion, sustainability, and people development. She shared how the Firm has embraced the concept that the ability to work flexibly is a key differentiator for recruitment and critical to employee retention, productivity and engagement. She then explained how the Firm’s FWA policies are aligned with our Purpose and diversity & inclusion goals. Luisa also provided tips on how participants can build a culture of flexibility in their own organizations. The webinar is the fifth installment of the PBCWE’s #WEECanDoIT​ webinar series. To watch the webinar, please visit https://tinyurl.com/LAHebronPBCWE. SGV is a Founding Member of the PBCWE. The Firm received its EDGE Certification in August 2018, making it the first multidisciplinary professional services firm in the Philippines to receive this certification for meeting the EDGE standards for gender equality. EDGE stands for Economic Dividends for Gender Equality.

SGV’s Tax Team conducted a public webinar titled Thrive amidst a BIR audit: a survival guide on 26 February. Speakers discussed the latest BIR enforcement strategies and recent issuances, rulings and court decisions involving tax audit issues. Over 300 tax and financial executives from various industries attended the event. Tax Partner Thyrza F. Marbas (TFM) discussed the technicalities of the BIR audit program, including the taxpayers covered by the program and the revised BIR organizational structure and the BIR’s primary jurisdiction. She also explained the tax assessment procedure and the applicable BIR issuances. Tax Partner Cheryl C. Ong (CCO) then discussed common tax issues and presented a comparison of BIR-related documents and specific tax assessment items. The discussions were followed by a Q&A portion led by CCO and TFM. The webinar’s organizing team included Tax Managers Virnee Joy Agot and Aiza Giltendez, and Senior Associates Crisanta Esgana and Monica Marie Miciano.

Assurance and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) moderated a webinar titled Exploring Environmental, Social, and Governance (ESG) Trends in the APAC Region hosted by the European Chamber of Commerce of the Philippines (ECCP) and Vigeo Eiris (V.E.) last 17 February. The session featured presentations from V.E. Executive Director Juliette Macresy and Securities and Exchange Commission Commissioner Kelvin Lee. They discussed the key drivers, risks and opportunities, and regulatory developments in ESG investing. They also shared observations on developing ESG trends in the APAC region.

Assurance and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) was among the speakers at the Junior Philippine Institute of Accountants – San Beda University (JPIA-SBU) Crossroads: A Look in Our Career Paths virtual career talk last 30 January. Over 180 SBU students participated in the event. As an alumnus of SBU, BNV spoke about his university experiences and how they shaped his professional development. He shared tips on how participants can advance their careers, encouraging them to leverage on technologies such as artificial intelligence, automation and blockchain. He also emphasized the value of teamwork and strengthening professional relationships for successful client engagements. BNV likewise discussed sustainability for ESG considerations and its significance in business continuity and resilience. He explained that companies today are not just evaluated based on financial metrics as regulators also measure their impact through an ESG lens. The session concluded with an open forum where BNV addressed questions on his career journey, the qualities of SGV professionals, and how the COVID-19 pandemic has affected the Firm and its people. Talent Supervising Associate Julia-Anne Deypalan and Talent Associates Camille Joyce Pascual and Juliene Marinela Salayon also attended the event.

The Subic Bay Freeport Chamber of Commerce (SBFCC) organized a webinar titled Mixer: Updates on the Newly Ratified Bicameral Version of the CREATE Bill on 3 March. SBFCC President Benjamin E. Antonio III delivered the opening remarks and welcomed over 90 participants from SBFCC member companies, including SGV Clark Head Jose Pepito E. Zabat (JEZ). SBFCC Director Peter Tumanda introduced Tax Partner Hentje Leo L. Leaño (LLL), who led a discussion on the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, its proposed adjustments in corporate tax and rationalization of fiscal incentives. Emphasizing the bill’s salient provisions and possible impact on Subic Bay Metropolitan Authority (SBMA) locators, he shared insights on how businesses can prepare for and maximize the incentives of the proposed tax reforms. The webinar concluded with an open forum where LLL and Mr. Antonio addressed participants’ questions. SBFCC Executive Director Donna May Tamayo hosted the event.

EY hosts ASEAN Tax Webcast Series   On 5-6 May, EY hosted an ASEAN Tax Webcast Series that provided participants with tax, finance and legal insights to help them understand the tax implications, risks and opportunities arising from the COVID-19 pandemic. The first webcast of the series discussed the specific COVID-19 related challenges affecting the tax functions in ASEAN markets. Speakers then presented a case study to examine common tax and business issues affecting organizations with regional operations. Speakers included CCO, EY ASEAN and Malaysia Tax Leader Amarjeet Singh, and EY Tax Partners Sockalingam Murugesan, Chester Wee, Nick Muhlemann, Tracey Kuuskoski and Su San Leong.     FKS and CCO presenting at the ASEAN Tax Webcast  In the second webcast, the speakers discussed stimulus measures and other changes introduced by governments across ASEAN to alleviate the impact of the ongoing COVID-19 disruptions. They shared strategies to help participants navigate key government measures and implications for companies with regional operations; manage increasingly complex tax compliance obligations amidst new policy changes and leverage government support for businesses; and manage payroll issues arising from the disruption. Speakers included FKS, EY ASEAN Global Compliance and Reporting Leader Julian Wong, and EY Tax Partners Nathanael Albert, Farah Rosley and Chai Wai Fook. 

SGV and the Davao City Government launched the Doing Business in Davao investment brochure last 29 January. Developed by SGV in close collaboration with the Davao City Investment Promotion Center (DCIPC), the brochure is a comprehensive guide for potential foreign and local investors looking to set up business operations in Davao City. DCIPC Head April Marie Dayap welcomed guests to the virtual launch, including officials from national government agencies, the diplomatic corps and chambers of commerce, and business organizations. SGV Davao Partner-In-Charge Jose Raoul J. Balisalisa (JJB) discussed the history of the Doing Business in the Philippines series and presented an overview of the major sections and highlights of the Doing Business in Davao brochure. SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) delivered a message about how Davao City is an ideal business hub and center of growth. He also shared that he hopes the brochure will encourage more investors to explore business opportunities in the city. Davao City Mayor Sara Duterte thanked SGV for its valuable and continuous support over the years. The Firm has assisted in amending the Davao City investment incentive code in 2007, developing the first edition of the brochure in 2011, and facilitating a conference on the development of the city’s economic outlook document in the last quarter of 2020. With the challenges brought about by the pandemic, Mayor Duterte mentioned that the timely publication of the brochure will help rebuild and create a more promising future for the city. Doing Business in Davao is the latest edition of SGV’s Doing Business in the Philippines series. The brochure presents an economic overview of Davao, taxation rules, investment policies, incentives for investors and essential information on the city’s assets. The brochure is set to be translated into three languages. 

SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) was re-elected as a member of the Board of Trustees of the Philippine Business for Social Progress (PBSP) during the PBSP Annual Membership Meeting last 26 January. Tax Partner and PBSP Visayas Regional Committee Member Cheryl C. Ong (CCO) led the opening prayer; and Tax Partner, SGV General Counsel and PBSP Corporate Secretary Carolina A. Racelis (CAR) participated and acted as the secretary for the meeting. As longtime members of the PBSP, WPT, CAR and CCO will continue to support the PBSP in its vision to lead the business sector’s efforts to reduce poverty in the country. Celebrating its 50th anniversary, PBSP is the largest business-led non-governmental organization (NGO) at the forefront of strategic corporate citizenship and business sector leadership, contributing to sustainable development and poverty reduction. Congratulations, WPT!