2023

SGV Partners and Managers joined the 2023 Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region (MMR) Geographical Area Office (GAO) Tax Conference with the theme “Beyond Numbers: Reinforcing the Roles of Regulators and Accountants for Effective Tax Compliance.” The event was held from 14 to 15 September at the Century Park Hotel Grand Ballroom in Malate, Manila. Around 400 participants per day attended the event. Group photo with Earvin, Sonia, Crissee and Meynard PICPA MMR Chair and GAO Regional Director Sonia D. Segovia and Tax Conference Committee Chair Maricris “Crissee” U. See led the PICPA MMR GAO team. Tax Conference Committee Co-Chair Meynard Sardalla and Tax Conference Committee Member Earvin Darren Lee were the Masters of Ceremonies during the event. MUS discussed the Bureau of Internal Revenue’s (BIR’s) 2023 Priority Plans highlighting its Digital Transformation Program, as well as its focus on Taxpayer Services, and Audit and Enforcement Program. Philippines and Asean Business Tax Services (BTS) Leader Jules E. Riego capped off Day 1 with his discussion on “How to Properly Manage a Tax Audit.” He highlighted the basic procedures of a tax audit, cited real cases, and provided tips in handling various situations which may occur during a BIR tax audit. Jules discussing the BIR tax audit process SGV Tax Partners Atty. Margaux A. Advincula and Atty. Cherry Liez Rafal-Roble were panelists in a roundtable discussion covering fake receipts and ghost companies in fake transactions. MUS moderated the roundtable discussion. Earvin presents certificates and tokens of appreciation to Crissee, Liez, and Margaux Margaux also joined another roundtable discussion which covered hot tax topics and some controversial taxpayer issues and concerns. PICPA Southern Metro Manila Chapter (SMMC) President Aileen L. Saringan and PICPA Western Metro Manila Chapter (WMMC) President Peter John R. Ventura introduced some of the speakers. SGV Tax Partners Atty. Tesi Lou Guanzon and Jay Ballesteros also joined the conference. The conference was also graced with the presence of Albay Representative Hon. Jose “Joey” Salceda and the virtual presence of BIR Commissioner Hon. Romeo “Jun” Lumagui, Jr. As the conference’s guest speakers, they answered tax questions and tax concerns from the participants.

SGV Financial Services Organization (FSO) Technology Consulting Principal Anurag Mishra was a speaker at the 2023 Asian Banking and Finance forum. It was attended by regulators, prominent bankers, and industry experts. Anurag (left) at the 2023 Asian Banking and Finance forum Anurag talked about embedded finance, digitalization, buy now, pay later (BNPL), loyalty programs, and how hyper-personalization enhances customer experience and engagement. He also discussed the risks associated with these programs as well as how engaged customers drive product improvements and revenues and is a market differentiator. He emphasized the role of regulators in ensuring fair practices, protecting customer data, and promoting transparency in loyalty programs. 

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte and Business Tax Services (BTS) Partner Atty. Cherry Liez O. Rafal-Roble were speakers in the 2nd World Clean Energy Philippines Conference + Expo 2023 held at the Novotel Hotel. Benjie and Liez talked about “Carbon Emissions Reduction: Replacing Fossil Fuels in Electricity Generation” and “Philippine Sustainability Laws, Incentives, and Taxation,” respectively.  Liez and Benjie at the at 2nd World Clean Energy Philippines Conference + Expo 2023 Benjie described decarbonization as one of the solutions in mitigating the effects of climate change. He also emphasized shifting to renewable energy as one of the means to securing a sustainable energy future. Liez discussed the impact of relevant legislation favoring cleaner energy sources. The event was organized by Escom Events.

SGV Tax Associate Shania Rose A. Lozano ranked 4th in the May – June 2023 US Certified Management Accountant (CMA) exam. She also received the US CMA Distinguished Performance Award for her excellent scores on the exam. The results were announced on 20 September 2023.  SGV Tax Associate Shania Rose A. Lozano, CPA, CMA The CMA title is a credential that represents enhanced expertise in areas of accounting and finance, with competencies in strategic thinking, business analysis, and leadership. It is offered by the Institute of Management Accountants (IMA). Congratulations, Shania!

SGV Consulting Senior Manager Mary Andrea Bacani and Managers Dexter Manabat and Jeffrey Yee participated in the Supply Chain Management Association of the Philippines (SCMAP) Supply Chain Conference (SCC) 2023 with the theme “We are one supply chain setting transformation in motion.” Over 320 delegates attended the event held at the EDSA Shangri-la Manila from 21 to 22 September 2023.  SGV Consulting Senior Manager Mary Andrea Bacani and Managers Dexter Manabat and Jeffrey Yee  Speakers from the logistics and retail sectors and heads of supply chain solution providers talked about future-proofing the supply chain through technology and people, managing supply chain risk, exploring resilience, and fostering sustainability. Department of Trade and Industry (DTI) representatives discussed government strategic initiatives on supply chain and logistics. The SCMAP SCC is now on its 32nd year and is the premier event in the Philippines for supply chain professionals, drawing key players across the supply chain, including manufacturers, distributors, retailers, logistics service providers, and other allied sectors.

SGV Cebu hosted the “Symposium for Business Owners: Strengthening Family Businesses for Generations to Come” on 20 September 2023 at the SGV Cebu Office. The symposium featured SGV Partners and was attended by business owners. Symposium attendees SGV Cebu Partner-in-Charge Margem A. Tagalog and Tax Leader Atty. Fabian K. Delos Santos gave their welcome remarks, while Tax Partner Cheryl Edeline C. Ong, Global Compliance and Reporting (GCR) Partner Saha P. Adlawan-Bulagsak, Consulting Partner Maria Kathrina S. Macaisa-Peña, Financial Accounting Advisory Services (FAAS) Partner Aris C. Malantic, and Private Leader Kristopher S. Catalan talked about Corporate Restructuring, Tax Health Check, Business Transformation, Enhanced Financial Reporting, and Leading in Private Boards, respectively. The event also included free one-on-one consultations with the key speakers to address the participants’ business concerns.

The SGV Business Tax Services (BTS) team conducted a webinar on surviving Bureau of Internal Revenue (BIR) tax audits. Around 250 participants from different industries attended the webinar. (From left to right) Senior Associates Tom Lui M. Estrella, Samantha Gaile A. Reyes, Partner Donna Frances G. Ylade-Torres, and Senior Associate Mariecar S. Reyes-Agbayani SGV BTS Partner Donna Frances G. Ylade-Torres was the speaker for the webinar, while Senior Associate Trixia Lou A. Diaz served as the host and moderator during the Q&A portion. Some of the topics discussed during the webinar were the BIR Audit Program, Subpoena Duces Tecum, the stages of BIR audits, relevant jurisprudence on BIR audits, general defenses, and survival tips. (From left to right) Senior Associates Niño Louis M. Belarma, Ron Christian T. Eupeña, Ernest Adrian F. Co., Senior Director Melissa Joyce Y. To, and Senior Associates Trixia Lou A. Diaz, Geremae M. Mata, and Joseph Santiago E. Quiño Webinar participants The Surviving the BIR Tax Audit webinar is part of a series of tax webinars conducted by the SGV BTS team. It aims to help and guide taxpayers in handling assessments with the BIR through keeping the participants updated on the latest Supreme Court decisions on tax cases, BIR enforcement strategies, and recent BIR issuances involving clarifications on tax laws and procedures.

SGV Financial Services Organization (FSO) Assurance Partner Glenda C. Anisco-Niño was a resource speaker at the joint webinar with EY Singapore and EY Malaysia entitled “Ignite your sustainability journey with the new ISSB standards” on 15 September 2023. A total of 456 financial institution representatives and regulators, with more than 300 participants from the Philippines, attended the webinar. Glenda presents her topic Glenda discussed the key features of International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2 Climate-related Disclosures. Glenda with the other EY speakers during the Q&A session Other speakers provided an overview of the International Sustainability Standards Board (ISSB) and its purpose and discussed other related topics such as impact on your companies’ sustainability disclosures, current state and next steps, and A deeper dive: Singapore. 

Financial Services Organization (FSO) Technology Consulting Principal Anurag Mishra was a panelist in the 2023 Temenos Cloud Forum for Philippine banking professionals. Anurag talked about banking transformation and explained that the cloud could help banks efficiently scale their operations and design more engaging customer experiences. Anurag (right) at the 2023 Temenos Cloud Forum for Philippine banking professionals “One of the most important shifts that is happening is on the customer side. Banking is going to transition while customers are demanding ‘hyper-personalization’ – and that requires new technologies. Today is the best time to shift from a technology perspective because the number of options to deliver on customer experience is huge and the cloud can solve specific problems,” Anurag said. Representatives from leading banks in the country also exchanged insights on key banking innovation trends, lifecycle banking, small and medium enterprise (SME) digital banking, and cloud banking.

Financial Services Organization (FSO) Technology Consulting Principal Anurag Mishra was a panelist in the inaugural Citi Philippines Securities Services forum organized by Citi Securities Services Philippines. Anurag was joined by Citi Philippines CEO Paul Favila and Citi Philippines Securities Services Head Tiffin Tanseco.  Forum photos courtesy of Citi Securities Services Philippines Key asset managers and asset owners attended the forum, which also featured other speakers from The Philippine Stock Exchange, Inc. (PSE), the Philippine Securities and Exchange Commission (SEC), Sun Life, and Citi subject matter experts. They covered topics on macroeconomics, intelligent operations, blockchain, digital assets, innovation, and environmental, social, and governance (ESG).