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Clark conducts CREATE webinar with AFAB  SGV Clark and Tax Partners Hentje Leo L. Leaño (LLL) and Margaux A. Advincula (MAA) led a tax briefing on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill for members of the Authority of the Freeport Area of Bataan (AFAB). AFAB Administrator Engr. Emmanuel D. Pineda welcomed over 80 representatives from different companies and organizations to the event.  LLL and MAA presenting at the AFAB webinar  The speakers discussed the latest updates on the CREATE bill, including its salient features and its potential impact on the Bataan locators. They also explained the proposed adjustments in corporate tax and rationalization of fiscal incentives.   Participants included AFAB Registration Division OIC Alejandro Sugatain, Enterprise Services Officer IV Krizzia Katrina Ocampo, Attorney III Reshel Amor Apigo, Atty. Kara Herrera of the Office of Congressman Jose Enrique Garcia, and SGV Clark Partner-In-Charge Peps Zabat. The webinar was moderated by Tax Associate Director Michael Ray Lapasaran. 

Talent joins EY Rebuilders Campaign  SGV’s Talent team, together with the EY Talent community, participated in the EY Global Campaign last 14-25 September. With the theme Rebuilding Your Working World, the program aimed to help those impacted by the pandemic to rebuild and restart their careers through a series of Facebook Live workshops on recruitment-related topics.    JOM, Michelle, Krista, KC, Camille and Mariane during the Facebook Live sessions with other members of the EY Talent community  Talent Leader and Assurance Partner Julie O. Mateo (JOM) was one of the speakers at the Inspire & Ignite Graduate Session where she shared stories on her career journey. She encouraged participants to keep an open mind and explore and widen their career options. She also shared tips on how graduates can navigate the new normal working world. SGV Employer Branding Supervisor Michelle Ong moderated the session. Other speakers included Financial Services Organization APAC Talent Leader Young-Sook Stewart and APAC Talent Attraction and Acquisition Director and Global Strategy and Transactions Recruiting Lead Eva Brookes.  Talent Associates Krista De Guzman, KC Dilla, Camille Pascual, and Mariane Riano participated in different Facebook Live sessions on the four crucial areas in rebuilding one’s career journey: becoming one’s best self, creating an effective resume, building a personal brand, and preparing for an interview.  Over 7,400 people from 99 countries joined the Rebuild Your Working World Facebook group, and over 20,000 viewers tuned in to the live sessions. For more information about the campaign, please visit EY.com. 

WPT joins Ayala-FINEX Summit  SGV Chairman and Country Managing Partner (CMP) Wilson P. Tan (WPT) was a panelist in the Ayala-FINEX Finance Summit last 9 September. With the theme Reimagining the future. Leading through the unknown, the summit discussed leading practices and business strategies aimed at managing the challenges caused by the pandemic, as well as global megatrends and possible scenarios for businesses in a future beyond the pandemic.   JAZA presenting at the Ayala-FINEX Summit  Ayala Corporation (AC) Chairman and CEO Jaime Augusto Zobel de Ayala (JAZA) shared how AC is reframing the future through innovative and sustainable practices. He emphasized the importance of stakeholder-centric and discovery-driven approaches in optimizing customer reach and experience, designing alternative work arrangements and operating models, and renewing commitment to society. He also presented AC’s digital transformation framework and spoke on the pandemic’s impact on the areas of digital finance, e-commerce and telemedicine, highlighting how it has encouraged them to innovate and redesign their operating models.  WPT presenting at the Ayala-FINEX Summit  WPT commended AC’s people-centric business approach and its commitment to its stakeholders. He also commended AC’s inspiring social corporate responsibility initiatives that strengthen meaningful collaboration across organizations.   Emphasizing the value of digital transformation and innovation strategies, he pointed out that business leaders need to maximize digital platforms to drive long-term value in their organizations, connect with their people, and better serve their clients. WPT shared how SGV has also leveraged on digital platforms to continue delivering exceptional client service during the pandemic.  

CCO joins EY ASEAN Tax webcast  SGV Tax Partner Cheryl C. Ong (CCO) was one of the speakers at the EY ASEAN Tax webcast last 17 September. The webinar covered how ASEAN companies and potential investors can optimize their investments in Malaysia, the Philippines and Myanmar. The presenters discussed how businesses can benefit from a global investment strategy on relocation and expansion, maximizing the benefits of COVID-19-related incentives in the three countries.     CCO presenting at the EY ASEAN Tax webcast  CCO discussed key points and relevant issues in investing in the Philippines and provided an overview of Philippine tax incentives, emphasizing the recent proposed tax reforms and items under the 2017 Investment Priorities Plan (IPP). She also discussed local COVID-19-related incentives under Republic Act No. 11469 or the Bayanihan to Heal as One Act.   Other speakers included EY ASEAN Tax Leader Amarjeet Singh; EY Global Incentives, Innovation and Location Services Leader Brian R. Smith; and EY Myanmar Tax Director Phyo May Thaw. 

Cebu holds CREATE webinar  SGV Cebu organized a webinar on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill for members of the Mactan Export Processing Zone Chamber of Exporters and Manufacturers (MEPZCEM) and the Association of MEPZ Controllers and Accountants (AMCA) last 18 September. Tax Manager Anne Momongan moderated the session.   CCO presenting at the CREATE webinar  SGV Tax Partner and SGV Cebu Partner-in-Charge Cheryl C. Ong (CCO) discussed updates on the bill’s progress, its salient provisions and proposed tax incentives. She explained business strategies companies can explore to maximize the bill’s incentives, creating better opportunities for their businesses. She also provided insights on how companies can prepare for the proposed tax reforms. The webinar’s organizing team included Tax Managers Karen Mae Calam-Ibanez, Edmond Emperio and Senior Associate Wennonah Marie Garces. 

CCO speaks at PAMPI meeting  On 23 September, SGV Tax Partner Cheryl C. Ong (CCO) was also a guest speaker at the General Membership Meeting of the Philippine Association of Meat Processors Inc. (PAMPI). Over 60 participants composed of representatives from manufacturers of processed meats and suppliers attended the meeting.   CCO with participants at the PAMPI meeting  She discussed tax updates on recent BIR issuances, the Bayanihan 2 Law, and pending legislation before Congress. She also discussed newly issued regulations such as the submission of BIR Form No. 1709 and related attachments on related-party transactions, the Voluntary Assessment and Payment Program for Taxable Year 2018 (RR No. 21-2020), the CREATE bill, and the extension of the period to avail of estate tax amnesty (House Bill No. 7068). 

COIN Team holds ASEAN Tax webcast  SGV’s China Overseas Investment Network (COIN) team, led by Tax Partners Fidela Francisca I. Reyes (FIR) and Maricris U. See (MUS) and Assurance Senior Manager Jonathan Bino, facilitated a webinar titled Going Global Webinar Series 2: Investing in Malaysia and the Philippines last 18 September. The webinar was conducted in Mandarin and hosted by EY China. Other speakers included members of the EY Malaysia COIN Team.  FIR, MUS and Jonathan with other members of the EY ASEAN COIN Team   The speakers discussed the tax considerations in setting up manufacturing facilities in or transferring supply chain operations to the Philippines. They presented local policies and regulations that may impact existing and new investors, such as COVID-19-related stimulus plans and tax incentives intended to mitigate the impact of the pandemic. The webinar was well-received by participants composed of executives and representatives from Chinese companies.  

CCaSS Senior Associate talks about sustainability at University webinars  Climate Change and Sustainability Services (CCaSS) Senior Associate Venson Cai participated in webinars hosted by the College of Construction Sciences and Engineering of the University of Makati and the College of Engineering of the University of the Philippines Diliman (UPD) last 12 and 17 September, respectively. Both webinars aimed to orient participants on different engineering research projects and their roles in sustainability. Participants included students, teachers, representatives from private firms, and local government officials.  Venson presenting at the UPD webinar  He presented his graduate research on the development and implementation of a recycling performance assessment tool for Philippine urban cities. His research can serve as a model for future performance improvements in the sector of waste management and recycling. He discussed the development of performance indicators and metrics to quantify and objectively assess waste management and recycling practices of Philippine urban cities. He also demonstrated the assessment tool’s sample application in Pasig City.  

RSD speaks at ANZCHAM webinar  Tax Partner Romulo S. Danao, Jr. (RSD) facilitated a webinar titled Transfer Pricing - New BIR Requirements for Taxpayers with Related Party Transactions hosted by the Australian-New Zealand Chamber of Commerce Philippines (ANZCHAM) on 22 September. ANZCHAM members and non-members attended the webinar.   Poster of the ANZCHAM webinar  RSD opened the session with an overview of transfer pricing and discussed the Transfer Pricing Regulations issued in 2013 and Transfer Pricing Audit Guidelines issued in 2019. He discussed the new Revenue Regulations No. 19-2020, as recently clarified by Revenue Memorandum Circular Nos. 76-2020 and 98-2020. He shared how taxpayers can comply with the new requirement, which aims to improve the BIR’s transfer pricing risk assessment and audit, ensuring that related-party transactions are properly disclosed and conducted at arm’s length. The event’s organizing team included Tax Senior Managers Donna Frances Ylade-Torres and Ana Katrina De Jesus.  RSD presenting at the Transfer Pricing webinar 

JER cluster donates laptops to orphanage  The COVID-19 pandemic has made it difficult for underprivileged children, who lack access to adequate resources and technology, to continue their education through remote learning. Tax Principal Jules E. Riego (JER) led his cluster in donating 20 pre-loved laptops to children from the Bahay at Yaman ni San Martin de Porres, Inc. orphanage in Bustos, Bulacan. The JER cluster also shared in the cost of the Microsoft Office programs installed in the laptops.  JER turned over the donations to Orphanage Director Fr. Florentino S. Concepcion on 22 September. He received touching letters from the children who expressed their gratitude, saying that the donations inspired them to study hard and achieve their dreams.      Letters from the children at the orphanage  The orphanage is currently home to 146 children who are still in need of laptops and other learning materials. For more information on how to donate, please contact JER at jeriego@icloud.com.