2024

SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula recently moderated the Bases Conversion and Development Authority (BCDA) Forum on “Unlocking the Investment Potential of New Clark City,” held at Shangri-la The Fort, Bonifacio Global City.  Atty. Margaux as moderator during the BCDA Forum BCDA Officer-in-Charge for Investment Promotions and Marketing Erwin Kenneth Peralta presented New Clark City's key features and investment opportunities. His presentation highlighted BCDA's alignment with the national government's vision for economic and social transformation. He also outlined investment opportunities in New Clark City, such as the Clark Central Business District, envisioned to become the country's largest and most modern business hub, the Clark Integrated Public Transport System, the Clark National Food Hub, the Solid Waste Management and Waste-to-Energy Project, and Affordable Housing in New Clark City. BCDA Officer-in-Charge for Investment Promotions and Marketing Ken Peralta (left) and Atty. Margaux Atty. Margaux led the open forum, encouraging participants to ask questions and share insights on developing New Clark City as an investment destination and strategies to attract foreign investments. Atty. Margaux (first row, seated second from left) with BCDA members Ken Peralta, Rhodenica Latido, Russelle De Guzman, Crinezza Veil Mendoza, Michelle San Juan-De Vera, and Benjamin Abella and representatives from foreign business chambers and offices Josephine Shun (TECOP), Chris Nelson (BCCP), Lorens Ziller (ICCP), Mitchel Smolders, Adrian Gamos (DCCP), Lancelot Perivier (FCCIP), Dennis Quintero (PABC), Mohamed Ahmed (HKA), Julio Amador III (PAEF), Isabelle Cebu (GPCCI), and Guissano Icaranom (KTIPA) Attendees included BCDA members and representatives from foreign business chambers and offices, namely the British Chamber of Commerce of the Philippines (BCCP), the Italian Chamber of Commerce in the Philippines (ICCP), the Dutch Chamber of Commerce in the Philippines (DCCP), the French Chamber of Commerce and Industry in the Philippines (FCCIP), the German-Philippine Chamber of Commerce and Industry, Inc. (GPCCI), the Taipei Economic and Culture Office in the Philippines (TECOP), the Philippine Australia Business Council (PABC), Haute Kitchens Australia (HKA), the Philippine American Education Foundation (PAEF), and the Korea Trade-Investment Promotion Agency (KTIPA).

SGV, through the SGV Foundation and the Sustainable Actions for Value-Creation and Enablement (SAVE) Council, donated 15 yellow paddle boats to the Sitio Teheman Yellow Boat Community in Maluso, Basilan in March 2024. Yellow boats are used in small, underserved communities to safely transport children to and from school, like school buses in urban centers. The initiative is part of SGV’s mission to create sustainable opportunities and ensure educational access for children in the area. Local recipients of yellow boat donations Children in yellow boats The boats were turned over to the local families with the help of the Claret Samal Foundation, Inc. staff. The boats were made by the boat builders of Maluso, Basilan. 

EY Asean Business Consulting Leader and SGV Consulting Leader Rossana A. Fajardo was one of the panelists at the Leadership Series 1.0 organized by the Asean Leadership Academy. The live session was streamed via MS Teams on 25 April 2024. It focused on the topic of fostering leaders and staff who are capable of inspiring teams with their energetic and enthusiastic approach to work. EY Asean Business Consulting Leader and SGV Consulting Leader Rossana A. Fajardo as panelist during the live session Rossana was joined by Malaysia Assurance Climate Change and Sustainability Services (CCaSS) Leader and Asia Pacific Climate Change Advisory Leader Arina Kok as a co-panelist for the session. They engaged in discussions about leadership qualities and organizational values. The session was moderated by International Tax and Transaction Services (ITTS) Director Clement Lim, who steered the conversation toward finding inclusive pathways to growth and success.  ITTS Director Clement Lim (left) and Malaysia Assurance CCaSS Leader and Asia Pacific Climate Change Advisory Leader Arina Kok (right) as moderator and panelist, respectively Rossana underlined the importance of embodying the Firm's Purpose and setting a standard for others to follow. She introduced the audience to SGV Consulting's initiatives like the Quality and Innovation Circle, which encourages staff to propose impactful projects, and the pocket sessions aimed at building stronger connections between different service lines. Rossana further mentioned the necessity for patience in leadership roles, highlighting the discernment needed to know when to persist and when to withdraw. Arina added that success in leadership stems from collaboration and collective effort within the team. She gave insight into setting clear personal career goals and providing customized support to team members. Arina underscored the importance of open communication and volunteering in areas of strength to drive motivation and achieve career milestones. She also mentioned the EY Badges program, which encourages EY people to hone and master diverse skills. Together, Rossana and Arina advocated for proactive leadership, where daily actions demonstrate energy and the courage to lead, affecting positive change and helping others to grow. The event concluded with a Q&A session, promoting the daily practice of these leadership qualities for all EY people.

SGV and the Climate Change Commission (CCC) have pledged to deepen their collaboration for impactful climate resilience, with a focus on empowering Local Government Units (LGUs) through science-based, data-driven strategies. The collaboration aims to invigorate climate initiatives at the community level and promote long-term, low-carbon development. SGV Chairman and Country Managing Partner Wilson P. Tan (right) with CCC Vice Chairperson and Executive Director Robert E.A. Borje (left) (Photo courtesy of the CCC) SGV Chairman and Country Managing Partner Wilson P. Tan highlighted the Firm’s commitment to infusing sustainability into LGU operations and enhancing their climate resilience, emphasizing the critical contribution of the private sector to climate action.  SGV Chairman and Country Managing Partner Wilson P. Tan (third from right), CCaSS Partner Benjamin N. Villacorte (second from right), and CCaSS Principal Bonar A. Laureto (right) with CCC Vice Chairperson and Executive Director Robert E.A. Borje (center) and other members of the CCC (Photo courtesy of the CCC) WPT was joined by SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte and CCaSS Principal Bonar A. Laureto. SGV and the CCC are aligning their efforts with the United Nations Sustainable Development Goals (SDGs), particularly SDG 13 (Climate Action) and SDG 17 (Partnerships for the Goals). By mobilizing private-sector investments towards low-carbon initiatives, this collaboration contributes to sustainable development, in line with the broader SDG agenda. SGV and the CCC continue to establish public-private partnerships, bolstering the integration of climate change considerations into policy and investment decisions to effectively combat the climate crisis.

SGV launched the Mandarin version of the Doing Business in the Philippines publication and conducted a tax update briefing for members of the Chinese Enterprises Philippines Association (CEPA) and representatives from the Embassy of the People's Republic of China in the Philippines in March 2024 at the SGV Makati office. (From left to right) Assurance Partner Jonathan T. Bino, Tax Partner Maricris U. See, COIN Leader Fidela I. Reyes, Embassy of the People’s Republic of China in the Philippines Minister Counselor Yang Guoliang, SGV Senior Advisor and former Ambassador Delia Domingo Albert, CEPA President Hu Xinquan, SGV Chairman and Country Managing Partner Wilson P. Tan, and Tax Partner Francis J. Ricamora The briefing was organized by SGV’s China Overseas Investment Network (COIN) team, led by Atty. Fidela T. Isip-Reyes, with support from Assurance Partner Jonathan T. Bino and Tax Partner Maricris U. See.  SGV Chairman and Country Managing Partner Wilson P. Tan  SGV Chairman and Country Managing Partner Wilson P. Tan and SGV Senior Advisor and former Ambassador Delia Domingo Albert welcomed embassy representatives and CEPA members to the event.  Embassy of the People’s Republic of China in the Philippines Minister-Counselor Yang Guoliang (left) and CEPA President Hu Xinquan (right) Embassy of the People’s Republic of China in the Philippines Minister-Counselor Yang Guoliang and CEPA President Hu Xinquan delivered remarks highlighting the Philippines as a prime investment destination for Chinese companies. They noted that the new tax reforms under Republic Act No. 11976, the "Ease of Paying Taxes Act," could enhance investment opportunities by simplifying tax compliance. Additionally, the release of the Mandarin edition of SGV's Doing Business in the Philippines publication will provide valuable guidance for Chinese investors entering the Philippine market. Senior Advisor and former Ambassador Delia Domingo Albert  Tax Partners Francis J. Ricamora (left) and Maricris U. See (right) during their respective discussions Master of Ceremonies, Assurance Partner Jonathan T. Bino  Ambassador Delia also gave her remarks, followed by keynote presentations delivered by Tax Partners Francis J. Ricamora and Maricris U. See, focusing on the Ease of Paying Taxes (EOPT) Act and Revenue Memorandum Circulars No. 5-2024 and No. 12-2024. Assurance Partner Jonathan T. Bino hosted the event. SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz delivers her closing remarks The briefing concluded with SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz's closing remarks, and attendees received copies of the newly released Mandarin publication. 

SGV, represented by Chairman and Country Managing Partner Wilson Tan, and the Ateneo de Manila University (ADMU), represented by Dean of the John Gokongwei School of Management Dr. Roberto Martin Galang, signed a Memorandum of Agreement (MOA) on 21 March 2024 for ADMU to participate in the SGV iTeach Program. The MOA signing took place at the SGV I Building in Makati City. The initial planned project is a series of workshops focused on topics related to sustainability.  SGV and ADMU representatives during the MOA signing SGV Vice Chair and Deputy Managing Partner Vivian Ruiz, SGV Consulting Partner and iTeach Program Director Allan Ocho, SGV Learning & Development Leader and Chief Sustainability Officer Clair Mangangey and ADMU Department of Finance and Accounting Chair Aldo Zelig Tong acted as witnesses. Also in attendance were SGV General Counsel Carolina Racelis, SGV Assurance Partner Katrina Francisco, and SGV Business Consulting Senior Jervie Sta. Ana. The SGV iTeach Program aligns with the Firm's commitment to continue its late founder Mr. Washington SyCip's advocacy for lifelong learning. The program aims to enable educators by updating them on the latest accountancy and technology trends and helping them bridge the gap between theoretical principles and actual practice. This includes collaborations with schools and professional organizations to facilitate training and workshops, provide inputs to the schools' programs, curricula, and syllabi, develop case studies, and provide guest lecturers.  To date, the SGV iTeach Program has been able to reach out to and build awareness with around 7,000 teachers, students, and other professionals across the country.

The SGV Consulting team organized the ninth installment of the SheInspires series, titled “Being a Girl’s Girl – The Power of Women Supporting Women,” on 22 March 2024. The session was held on-site at the SGV Makati office and simultaneously streamed via MS Teams. The session underscored the importance of sisterhood and what it truly means to be a “Girl's Girl.”  SheInspires Panelists Consulting Senior Manager Michael Jorge Ignacio, Consulting Manager Sheralyn Peroche, Consulting Partner April Anne M. Corpuz, and Consulting Leader Rossana A. Fajardo The panelists for the session were Consulting Leader Rossana A. Fajardo, Consulting Partner April Anne M. Corpuz, Consulting Senior Manager Michael Jorge Ignacio, and Consulting Manager Sheralyn Peroche.  They defined what it means to be a “Girl’s Girl,” dispelling common misconceptions about the term. They talked about the critical role of mutual support in boosting confidence, ways to foster supportive relationships and environments that enable personal and professional growth, and the connection between support networks and career success and its impact on mental health. The panelists also offered tips for building healthy, empowering relationships, as well as steps to overcome challenges. They shared personal encounters with inspiring women leaders and recounted experiences with women supporting each other even across various corporate fields.  Hosts Tata and Ace during the Q&A session The session concluded with a Q&A segment moderated by hosts Brand, Marketing and Communications (BMC) Assistant Director Ameyra Virginia “Tata” J. Rosales and Technology Assurance Senior Anthony Arman “Ace” R. Matibag.

The SGV Knowledge Institute, with the SGV Tax Markets Pillar, hosted a seminar titled “Fortifying Your Legacy: Wealth Succession and Family Business Succession Planning” on 4 April 2024, at the Washington SyCip Development Center (WSDC) Training Room. The event was attended by over 40 family business owners and executives from various sectors. SGV Private Tax Leader Atty. Jules E. Riego and EY Asia-Pacific Private Tax and Family Enterprise Leader Desmond Teo during the question-and-answer session SGV Chairman and Country Managing Partner Wilson P. Tan opened the seminar. SGV Private Tax Leader Atty. Jules E. Riego discussed Succession Law, wealth succession planning both at the family enterprise level and the individual level, family governance, and Common Reporting Standards (CRS). He emphasized the benefits of estate planning and the role of a Family Constitution in preventing disputes. Atty. Jules talks about the holding company structure after a tax-free exchange SGV Tax Partner Atty. Thyrza F. Marbas spoke about wealth planning for individuals, covering tax strategies and legal tools like wills and trusts, aiming to safeguard the future of estates and family businesses. Atty. Cheryl, Atty. Jules, and Atty.  Thyrza EY Asia-Pacific Private Tax and Family Enterprise Leader Desmond Teo shared insights on family offices in Singapore and Hong Kong as models for the Philippines. SGV Tax Partner Atty. Cheryl Edeline C. Ong facilitated the seminar and moderated the question-and-answer session. The seminar highlighted the importance of succession planning for family businesses, including for cost savings, and preserving harmonious family relationships. 

SGV Indirect Tax (IDT) Principal Atty. Alden C. Labaguis and IDT Associate Directors Atty. Lauren Antonette M. Mendoza and Atty. Kierk Robin M. Ret were speakers at the recently held PortCalls: Understanding CREATE MORE Bill with VAT Exemption + Ease of Paying Taxes Act Seminar at Citadines Bay City in Manila. Approximately 80 participants and representatives from various importers and logistics companies in the Philippines attended the event. Atty. Lauren discusses EOPT Act tax updates Atty. Lauren opened the discussion on the Ease of Paying Taxes (EOPT) Act, where she highlighted the important changes and developments in the payment of taxes. She also discussed the potential implications of the issuance of Revenue Memorandum Circular (RMC) No. 5-2024, particularly in light of the Supreme Court ruling on Aces Philippines Cellular Satellite Corp. vs. Commissioner of Internal Revenue (G.R. No. 226680 dated 30 August 2022).  Atty. Kierk discusses proposed CREATE MORE Bill amendments Atty. Kierk focused his discussion on the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Bill. He highlighted the proposed amendments on income tax rates, enhanced deductions, and value-added tax.  The seminar concluded with an open forum, where the participants addressed their questions to Atty. Alden and the speakers. IDT Senior Associates Atty. Andrea Nicole C. Loreno and Atty. Natividad G. Busa were part of the SGV coordinating team.

SGV Financial Services Organization (FSO) and Financial Crime Risk Management (FinCrime) Partner Veronica Mae Arce Balisi was a resource speaker at the Philippine Association of Real Estate Boards – Pasay-Makati Realty Board, Inc. (PAREB-PMRB) Anti-Money Laundering and Counter Terrorist and Proliferation Financing (AML/CTPF) training held on 19 March 2024 at Paseo de Magallanes in Makati City. SGV FSO FinCrime Partner Veronica Mae Arce Balisi (second from left, seated) with PMRB President Glorie Marie Sy (third from right) and other PAREB-PMRB members  PMRB President Glorie Marie Sy delivered the welcome remarks and introduced Veronica as the resource speaker. The training session covered key topics such as AML/CTPF, the importance of compliance with the Anti-Money Laundering Act (AMLA) and related regulations and the responsibilities of Real Estate Brokers (REBs) and Real Estate Developers (REDs) as covered persons.  Veronica provided an overview of the vulnerabilities faced by REBs and REDs under AMLA. She also detailed the registration process, including the steps necessary for the submission of required documentation and compliance with regulatory mandates. Veronica was joined by FSO Director Anne Mariel Lagao, and Associates Alech Nicole Margallo, Rod Aderick Elauria, Ma. Tiffany Atis, and Charisse Panisales. Veronica (center) with SGV representatives, PAREB-PMRB members, and other training attendees In concluding the session, Veronica encouraged real estate brokers and developers to register as covered persons. She also urged them to become advocates for AMLA to aid in the fight against money laundering within the real estate industry. She highlighted the importance of recognizing the risks and understanding the red flags associated with money laundering activities, as well as the role of brokers in reporting suspicious transactions.