2022

SGV Global Compliance and Reporting (GCR) Partner Josenilo “Nilo” G. Mendoza (JGM) and Senior Manager Zorayda Panumpang were speakers in the hybrid Tax Seminar for Kabang Kalikasan ng Pilipinas Foundation, Inc. (KKPFI), also known as WWF Philippines, on 23 September 2022. Zorayda with the in-person attendees at the WWF tax seminar Nilo discussed the basic concepts and rules for Expanded Withholding Tax (EWT) and Final Withholding Tax (FWT). Zorayda discussed the basic concepts and rules for Withholding Tax on Wages (WTW) and Fringe Benefits Tax (FBT). They covered the taxes’ nature and basic principles, withholding agents, exemptions from withholding, timing of withholding, common income payments subject to the taxes, computation, effects of failure to withhold, and administrative requirements. Their discussions also covered Tax Reform for Acceleration and Inclusion (TRAIN) law and Corporate Recovery and Tax Incentives for Enterprises (CREATE) law updates. Nilo discussing EWT Questions from the WWF participants were addressed after each session. WWF-Philippines is an environmental non-government organization working on improving Filipino lives by crafting solutions to climate change, providing sustainable livelihood programs, and conserving the country's richest marine and land habitats. Zorayda discussing WTW

SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) was a speaker at the 2nd Philippine Renewable Energy Virtual Conference held in the third quarter of 2022. The conference focused on the development, integration, and implementation of renewable energy in commercial and residential properties, as well as in manufacturing and industrial facilities. Benjamin during his talk Benjamin talked about “Decarbonizing the Philippines through Renewable Energy Sources.” His discussion focused on the journey towards decarbonization and a brief background on greenhouse gas accounting, primarily Scope 2 emissions or indirect emissions from the generation of purchased energy. He also highlighted EY/SGV’s decarbonization goals and achievements. Other topics he covered during the conference were impacts and policy developments concerning climate change, the role of renewable energy in decarbonization, and ways on how to tap companies/organizations to support renewable-energy initiatives. BNV emphasized that to lower Scope 2 emissions, there needs to be a shift to renewable energy sources in the Philippines. 

SGV Consulting team members participated in the iGnite: GCash Innovation Summit 2022. The summit was a month-long event with weekly virtual activities and a one-day on-ground culminating event held on 2 September 2022. Activities included immersive talks and webinars, peer-to-peer roundtable discussions, and hands-on labs/workshops. The SGV Consulting team during the summit SGV Consulting Partner Philip B. Casanova (PBC) and Consulting Senior Director Alvin G. Manuel were among the speakers during the culminating event. In their session on Cyber Resilience, Philip and Alvin talked about how organizations can prepare for, respond to, and recover from cyber breaches.  Senior Director Alvin talks about cyber resilience The event aimed to provide a venue for insightful learning and sharing of best practices to encourage creativity and innovation for employees of GCash and its partner organizations. 

SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) served as a panelist at the Extended Producer Responsibility (EPR) workshop organized by the American Chamber of Commerce of the Philippines (AmCham Philippines) on 16 September 2022 at the AmCham office in Makati City. The workshop aimed to answer the question: What does it mean to comply and how can obliged companies do so? From L-R: Atty. Mimi Malvar of P&G, Benjamin Villacorte of SGV CCaSS, Crispian Lao representing PARMS and the National Solid Waste Management Commission, Ebb Hinchliffe - Executive Director of AmCham, Nanette Medved-Po of HOPE and Plastic Credit Exchange, Jon Alan Cuyno of Geocycle Holcim Philippines, and Atty. Joseph Fabul of Mondelez Philippines The discussion focused on the implementation of the Extended Producer Responsibility Act (RA 11898). which lapsed into law in July 2022. To provide a better understanding of the audit requirements of the Act in particular, Benjamin discussed how companies’ EPR reporting can be audited. He provided insights based on SGV and EY practices as well as insights gained from engagements related to the circular economy.  Benjamin (far left) with the other panelists During the open forum, the audience further inquired about how several brand owners have voluntarily done EPR programs in the past, even prior to the release of the legislation. The attendees also expressed interest in  the possible guidelines to expect ahead of the release of the Act’s implementing rules and regulations (IRR) expected by November this year.

SGV Partners and Managers participated in the two-day Joint Sectoral Summit Spotlight on Public Practice conducted by the Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region, Geographical Area Office and Southern Metro Manila Chapter from 7 to 8 September 2022. The hybrid Summit was held face-to-face at the Century Park Hotel, Manila and virtually via Zoom.  Roundtable discussions The first day of the Summit focused on Quality Assurance Review (QAR) and audit productivity tools including analytical tools. PICPA National Sectoral Director for Public Practice and Assurance Partner John T. Villa (JTV) served as one of the panelists in the QAR roundtable discussion while PICPA Southern Metro Manila Chapter VP for Membership and Assurance Partner Shane Dave Tanguin (SDT) served as the moderator. Assurance Partner Shane Dave Tanguin (leftmost) moderating the roundtable discussion on audit productivity tools including analytical tools SGV Tax Partners Aaron C. Escartin (ACE) and Atty. Thyrza F. Marbas (TFM) were panelists during the second day of the Summit in an in-depth roundtable discussion on BIR-related topics and common issues encountered by taxpayers. This session was moderated by PICPA Joint Sectoral Summit for Public Practice Chair and SGV Tax Partner Maricris U. See (MUS).  SGV Tax Leader Fabian K. delos Santos  receiving a plaque of appreciation from the PICPA officers, including PICPA Joint Sectoral Summit Chair Maricris U. See SGV Tax Leader Fabian K. delos Santos (FKS) also talked about the recent BIR issuances, which include the guidance on tax-free exchanges of properties, guidelines on the filing of requests for confirmation, tax treaty relief applications (TTRAs), and tax sparing applications, as well as the removal of the five-year validity period on receipts/invoices, among others. From top L-R: SGV Partners Thyrza F. Marbas, Maricris U. See,and SGV Associate Director Clarissa S. Chua with BOA and BIR officials The event was organized by PICPA Joint Sectoral Summit for Public Practice Chair and SGV Tax Partner Maricris U. See. She was assisted by SGV Associate Director Clarissa S. Chua and Senior Director Meynard L. Sardalla, who was also the Master of Ceremonies on Day 2. Other SGV Partners present during the event were Tax Partners Sonia D. Segovia (SDS), Atty. Tesi S. Guanzon (TSG) and Michael A. Madlangbayan (MAM). 

SGV Partners Manolito R. Elle (MRE), Mariecris N. Barbaso (MNB), Katrina F. Francisco (KFF), Auresana B. Ines (ABI), and Jan Ray G. Manlapaz (RGM) participated in the IT Business Process Association of the Philippines (IBPAP) International Innovation Summit. Held on 27 to 29 September, the summit had the theme “The Big PH IT-BPM LEAP. Growth. Resurgence. Impact. Transformation.” The first two days of the summit were conducted virtually via Airmeet. The  Partners attended the in-person session and the after-party on 29 September held at the Sofitel Philippine Plaza Manila.  SGV Partners Jan Ray G. Manlapaz, Mariecris N. Barbaso, Katrina F. Francisco, Auresana B. Ines and Manolito R. Elle during the Summit The International Innovation Summit is the premier summit for the innovators, builders and enablers of the Information Technology and Business Process Management (IT-BPM) industry who want to further strengthen the Philippines’ stance as a top investment destination for global services in the world. The Philippines’ IT-BPM sector is one of the country’s best-performing and employment-generating businesses.   SGV Partners Manolito R. Elle, Katrina F. Francisco, Mariecris N. Barbaso, and Auresana B. Ines with IBPAP President & CEO Jack Madrid (second from right) IBPAP is the enabling association and the one-stop advocacy and information gateway for the IT-BPM industry of the Philippines. 

SGV Financial Services Organization (FSO) Partner Veronica Mae Arce Balisi (VAB) conducted an Anti-Money Laundering (AML)/Counter Terrorism and Proliferation Financing (CTPF) training session during the recent Financial Executives Institute of the Philippines (FINEX) Academy Capital Markets and Fixed Income Securities Course. Agents and legal professionals from the securities sector and others preparing for the Securities and Exchange Commission (SEC) certification exam attended the training session. Veronica with the FINEX attendees Veronica kicked off the training by updating the participants on the inclusion of the Philippines in the Financial Action Task Force (FATF) grey list once again. This was followed by an introduction to Money Laundering (ML), and Terrorist Financing (TF) and Proliferation Financing (PF) including concepts of predicate and unlawful activities.  Veronica also discussed recent regulatory updates on AML/CTPF and preventive measures of covered persons/institutions for capital markets and the fixed income securities industry in preventing and combatting financial crimes. The impacts of the Russia-Ukraine war were also discussed including countries’ sanctions on Russia. FSO Associate Rubin Hollero II facilitated quick knowledge check-in polls to assess the participants’ learning progress. This was Veronica’s sixth time conducting an AML/CTPF training session for the FINEX Academy.

SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) and CCaSS Director Diana A. Sadili-Chu participated in a private sector consultation meeting organized by the Climate Change Commission (CCC) entitled “Private Sector Engagement towards Sustainable Climate Investment and Finance” on 16 September 2022 at the Asian Institute of Management (AIM) Conference Center, Makati City. The consultation meeting aimed to further strengthen partnerships and foster an enabling environment for climate action. Benjamin and Diana with CCC Commissioner Rachel Anne Sibugan Herrera (far left) and CCC Policy Research and Development Division (PRDD) Chief Jerome E. Ilagan (second from right) Benjamin shared relevant sustainability and climate change initiatives of the Firm, such as its Sustainable Actions for Value Creation and Enablement (SAVE) Council, during the open forum. In closing, Commissioner Rachel Anne Herrera encouraged business and company representatives to support the country’s initiatives toward sustainable climate investment and finance. Benjamin with CCC Commissioner Albert P. Dela Cruz

SGV Consulting Director John Panes was a speaker in the Asia Pacific Youth Internet Governance Forum (yIGF): Meetup with Industry Experts on 10 September 2022. The session focused on Internet Governance ABCs: Algorithm Bias - Big Data - Cyber Crime. John at the yIGF: Meetup with industry experts John talked about cybercrime awareness for the youth and the secure use of the internet. During the roundtable discussion, he also provided insights on the importance of cybercrime awareness, the impact of algorithmic bias in everyday life, and the cultivation of digital literacy and digital citizenship. Part of John’s presentation Initiated by the NetMission Ambassadors, the annual yIGF aims to raise awareness of internet governance discourse and encourage the young generation to be more actively engaged in policy discussion and the decision-making process. Youth participants are given the opportunity to explore hot topics, such as sustainability through trust and digital inclusion. John with the participants For the annual “Meetup with Industry Experts” session, participants were given the opportunity to meet with industry experts from different stakeholder groups, including government, civil society, technical community, academia, etc. This session aims to help participants get a better idea of what and how different stakeholders deal with a particular issue during the policy-making process.

SGV Business Tax Services Senior Director Atty. Gecel G. Codera-Ong represented SGV in the IT & Business Process Association of the Philippines (IBPAP) and Leechiu Property Consultants (LPC) industry briefing entitled “Enabling Industry & Investments: Policy Discussion with PEZA” on 15 September 2022. Atty. Gecel G. Codera-Ong with the participants in the roundtable discussion, IBPAP Officers and PEZA-OIC Tereso O. Panga Atty. Gecel attended the briefing and roundtable discussion with the guest speaker, Officer-in-Charge of the Philippine Economic Zone Authority (PEZA) Tereso O. Panga. The briefing was kicked off by IBPAP President & CEO Jack Madrid who welcomed the participants on-site and online reiterating the commitment of the Association to help its members and IT locators prosper in the country.  During the roundtable discussion, Atty. Gecel shared her insights on the possible response of the PEZA Registered Business Enterprises (PEZA RBEs) on the issuance of Letters of Authority/Mission Orders (LOAs/MOs) by the BIR and advised PEZA locators that while the PEZA will assist them in conducting meetings and discussions with the BIR to address the matter, once an LOA is received, the PEZA RBEs must ensure that such LOAs/MOs are handled with due care and in compliance with the strict technical rules and procedures governing BIR audits.  PEZA officers in attendance were Enterprise Assistance Group Manager Vivian S. Santos, Enterprise Regulations & Support Services Group Manager Atty. Ross Vincent S. Sy, and Legal Affairs Group Manager Atty. Jenny June G. Romero. Other attendees included Concentrix APAC Regional General Counsel, Atty. Michael Montero and Assoc. Gen. Counsel, and Alorica Atty. Maureen Abayan Ong who served as the moderator. IBPAP members and IT locators also participated virtually. The industry briefing concluded with a message from IBPAP’s Chief Policy and Regulatory Affairs Officer Celeste Ilagan, who expressed gratitude to all the guest speakers and reassured all members of the IBPAP’s commitment to support them and IT locators.