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SGV Partners Hentje Leo L. Leaño, Margaux A. Advincula, Deonah L. Marco-Go, Jose Pepito “Peps” E. Zabat III, and Victor C. De Dios facilitated a seminar on the Ease of Paying Taxes (EOPT) Act, the CREATE to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Bill, and the Base Erosion and Profit Shifting (BEPS 2.0) Action Plan. The seminar organized by the Subic Bay Freeport Chamber of Commerce (SBFCC) was held at the Subic Bay Peninsular Hotel on 18 January 2024. Victor, Margaux, Peps, SBFCC President Benjamin Antonio III, Deonah, Leo, and SBFCC Director Peter Tumanda at the SBFCC seminar Assurance Senior Director Leo Niño Canlas, Global Tax Compliance Director David Jonathan Manalili, Global Tax Compliance Associate Director Mica Alyanna Rivera, Business Tax Associate Director Atty. Ma. Jeanne Therese Marasigan, Business Tax Senior Associate Atty. Illysa Abquiren, and Atty. Jessica Ella Lagman provided assistance to the Partners throughout the event. About 143 locators and SBFCC members attended the seminar, including SBFCC President Benjamin Antonio III and SBFCC Director Peter Tumanda.

SGV Clark Partner-in-Charge and Head Atty. Margaux A. Advincula and SGV Tax Partners Hentje Leo L. Leaño and Atty. Maria Margarita D. Mallari-Acaban were resource speakers in a seminar organized by the Clark Investors and Locators Association (CILA). Around 180 locators, other CILA members, and clients from Clark, Pampanga, Subic Bay, and Tarlac attended the event held at the SGV Clark office on 25 January 2024. Atty. Margaux discusses CREATE MORE Bill Leo discusses EOPT Act Atty. Marga discusses BEPS 2.0 CILA Director Joyce Manansala delivered the opening remarks. CILA President Dr. Frankie Villanueva introduced the speakers. Atty. Margaux, Leo, and Atty. Marga discussed the Ease of Paying Taxes (EOPT) Act, the Base Erosion and Profit Shifting (BEPS 2.0) project, and the CREATE to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Bill. Dr. Frankie moderated the question-and-answer sessions and shared his insights on the topics discussed. He also gave the closing remarks. Leo, Tan, Atty. Margaux, Atty. Marga, CILA President Dr. Frankie Villanueva, Leo, and Peps MG7 Leader Jose Pepito “Peps” E. Zabat, Assurance Senior Director Leo Niño Canlas, Global Compliance and Reporting (GCR) Director David Jonathan “Tan” Manalili, and Business Tax Associate Director Atty. Ma. Jeanne Therese Marasigan were also present during the event.

SGV was recognized by the Chinese Enterprises Philippine Association (CEPA) as Outstanding Partner during CEPA’s 2023 annual meeting and new year reception held at the Bonifacio Hall of Shangri-la the Fort, Manila on 16 December 2023. SGV Chinese Overseas Investment Network (COIN) Leader Fidela T. Isip-Reyes and SGV Assurance Partner Jonathan T. Bino received the award certificate on behalf of the Firm. SGV Assurance Partner Jonathan T. Bino and SGV COIN Leader Fidela T. Isip-Reyes (third and fourth from left) with the other CEPA awardees SGV Certificate of Award from CEPA Representatives from the Philippine government, including the Department of Foreign Affairs (DFA), Office of the Special Presidential Envoy to China, Office of the Presidential Adviser on Economic Affairs, and Philippine National Police, among others, attended the event. Also present were Embassy of the Peoples’ Republic of China in the Republic of the Philippines representatives Ambassador Huang Xilian and Minister Counsellor Yang Guoliang, Filipino-Chinese business community representatives and more than a hundred members of the CEPA.

The SGV Sustainable Actions for Value Creation and Enablement (SAVE) Council held a WebCCaSS session on sustainable gift giving. The session, titled “Gift Love, Wrap it Up: Sleigh’n the Sustainable Gift Giving” was attended by over 400 SGVeans.  Alvin delivers his opening remarks SAVE Council Operations Pillar Partner Alvin M. Pinpin opened the session with a reminder that gift giving can be a good avenue for SGVeans to participate in, in line with the Firm’s initiative to build a better and more sustainable working world.  The session’s speakers presented alternative gift ideas like buying upcycled items, choosing sustainable brands, giving experiential gifts, and using gift wraps with less waste. The session concluded with a declaration on adapting more sustainable gift-giving practices for the holiday season.  The CCaSS team engages participants to think of sustainable gift-wrapping materials CCaSS Director Diana Sadili-Chu, Associate Director Jouelle Nerveza-Sumile, Senior Associates Joshua Ladia and Kerby Panaligan, and Associates Emmanuel Regondola and Isabella Naputo hosted the virtual event. The SAVE Council’s WebCCaSS initiative is a quarterly one-hour webcast that covers concepts, trends, regulations, and industry practices around sustainability and climate change.

SGV Tax Principal Atty. Alden C. Labaguis assumed the position of Vice Chairperson of the Tax and Financial Services (TFS) Committee of The European Chamber of Commerce of the Philippines (ECCP) effective 8 January 2024. ECCP Executive Director Florian Gottein confirmed Atty. Alden’s appointment on the same date through official correspondence.ECCP TFSC Chair Atty. Con Simundac (left) and ECCP TFSC Vice Chair Atty. Alden C. Labaguis (right) Atty. Alden works together with ECCP TFSC Chair Atty. Con Simundac, Lead Legal Counsel of ING Bank Philippines. The ECCP is a bilateral foreign chamber that promotes European interests in the Philippines and vice versa. As an organization with close to 800 members and a strong partnership with the government, the ECCP offers a strong business network that holds great potential in translating to tangible business opportunities. The Chamber strives to make its members’ viewpoints heard on economic and business issues, legislative measures, and administrative regulations. The ECCP recognizes that the financial and fiscal sectors play a key role in helping ensure inclusive and sustainable economic growth and development. Subsequently, the implementation of suitable policies can help facilitate improved generation of funds as well as adequate allocation of resources. The ECCP TFSC engages with relevant stakeholders in initiatives towards improving fiscal and monetary policies including tax reform measures, as well as on improving inclusivity and security in the financial sector.

The SGV Tax Markets Pillar held an Executive Briefing for client executives on the Ease of Paying Taxes (EOPT) Act and the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Bill at the WSDC Training Rooms on 15 January 2024. More than 120 executives and officers from various industries attended the event. Atty. Fame (right) talks about the EOPT Act SGV Chairman and Managing Partner Wilson P. Tan delivered the opening remarks. SGV Tax Leader Atty. Fabian “Fame” K. Delos Santos and Philippine Quantitative Services Leader and Asean Tax Transformation Leader Atty. Cheryl Edeline C. Ong were the key speakers for the event. They talked about the EOPT Act and CREATE MORE Bill, respectively. Cheryl talks about the CREATE MORE Bill SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz gave the closing remarks. Cocktails with the clients were held after the event. The event provided an avenue for the SGV Tax team to reconnect with C-Suite executives and to share their insights on tax developments and the relevant business impacts.  The SGV Tax Markets Pillar, led by SGV Clark Partner-in-Charge Tax Partner Margaux A. Advincula, organized the executive briefing. The following Tax Partners and Principals also form part of the team: Frances Rose J. Villamayor, Lee Celso R. Vivas, Arlyn A. Sarmiento-Sy, Karen Kaye M. Sta. Maria-Constantino, Ana Katrina C. de Jesus, Donna Frances G. Ylade-Torres, and Cecille M. Santillan-Visto.  Tax Senior Managers Earvin Darren L. Lee, Joan Rouella P. Corrales, Anne E. Momongan-Lim, Gerardo C. Caiga, and Yzrael Edwin V. Pineda, Tax Managers Ma. Alexandria M. Daileg, Grace Lilac S. Desuasido, and Abegaile Marie L. Lebiga, and Tax Senior Nino Louis M. Belarma helped organize the briefing. In view of overwhelming interest from clients, the SGV Tax Markets Pillar will conduct additional executive briefings that will run in February and March 2024.

The SGV Dance Company (SGVDC) was hailed as the Ultimate Champions at the 78th Annual National Convention (ANC) of the Philippine Institute of Certified Public Accountants (PICPA) P-POP CON 2023: Pinoy Pop Dance Showdown! SGVDC won over both the crowd and judges as they performed their winning piece at the Sorsogon Convention Center.  78th PICPA ANC P-POP CON 2023: Pinoy Pop Dance Showdown! Champions SGVDC represented PICPA Metro Manila Region, sporting costumes that were styled in a visually satisfying contrast of ethnic fabrics against modern P-pop accessories. They won first place, while representatives from Central Luzon and Southern Tagalog regions won second and third places, respectively.  78th PICPA ANC P-POP CON 2023: Pinoy Pop Dance Showdown! Champions PICPA MMR Chair Sonia D. Segovia, PICPA Southern Metro Manila Chapter (SMMC) President Aileen L. Saringan and PICPA Western Metro Manila Chapter (WMMC) President Peter John R. Ventura and the rest of PICPA MMR delegates joined the team in celebrating this achievement. The competition aimed to celebrate the rise of Pinoy pop culture globally by showcasing the dancing talents of PICPAns all over the Philippines using exclusively P-pop and Original Pilipino Music (OPM) songs. 

SGV’s Climate Change and Sustainability Services (CCaSS) team hosted a webinar titled “Navigating the new frontier of sustainability standards: SGV Insight Session on the ISSB Standards.” The session aimed to impart key insights about the recently published International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards or International Sustainability Standards Board (ISSB) Standards. ISSB Member Bing Leng and SGV CCaSS Partner Benjamin N. Villacorte during the fireside chat Speakers and panelists shared their insights on the ISSB Standards, sustainability disclosures, and their impact on the sustainability reporting landscape from the viewpoint of a regulator, corporate reporter, a standard-setting body, and a professional services firm. ISSB Member Bing Leng discusses the IFRS Sustainability Disclosure Standards The session’s keynote speaker was ISSB Member Bing Leng. He talked about the development journey of the ISSB Standards and reliefs to support adoption. He also participated in a fireside chat moderated by SGV CCaSS Partner Benjamin N. Villacorte on ISSB key consultation results and support to jurisdictional adoption of ISSB Standards. (First row L–R) GRI Country Manager – Philippines Katreen Pillejera, AEV First Vice President – Chief Reputation and Sustainability Officer Ginggay Hontiveros-Malvar, and SGV Consulting Partner Joseph Ian M. Canlas; (Second row L–R) Gokongwei Group Sustainability Head Yvonne Purisima, FSO Leader Christian G. Lauron, and PH SEC Atty. Rachel Remalante The panelists for the forum were Global Reporting Initiative (GRI) Philippines Country Manager Ma. Katreena Pillejera, Securities and Exchange Commission (SEC) Corporate Governance and Finance Department Director Atty. Rachel Esther J. Gumtang-Remalante, Aboitiz Equity Ventures, Inc. (AEV) First Vice President - Chief Reputation and Sustainability Officer Ana Margarita “Ginggay” Hontiveros-Malvar, Gokongwei Group Head of Sustainability Yvonne Flores, and SGV Financial Services Organization (FSO) Leader Christian G. Lauron. SGV Consulting Partner Joseph Ian M. Canlas moderated the fireside chat. CCaSS Manager Jouelle M. Nerveza led the organizing team composed of Manager Ricardo S. Maulion, Senior Associates Marsha P. Batusbatusan and Goldianne M. Madriaga, and Associates Emmanuel D. Regondola and Caryll Joy C. Franco. CCaSS Senior Manager Crystal Aleli R. Cornell served as the session’s host and was also part of the organizing team.

The SGV Climate Change and Sustainability Services (CCaSS) team and Philippine Sustainability Reporting Committee (PSRC) Secretariat organized and hosted International Sustainability Standards Board (ISSB) meetings with the Securities and Exchange Commission (SEC), the Bangko Sentral ng Pilipinas (BSP), and the Philippine Stock Exchange (PSE) and a joint meeting with the Financial and Sustainability Reporting Standards Council (FSRSC) and the PSRC at the SGV Makati office.  SGV, ISSB, SEC, and PSE meeting participants The meetings aimed to engage the PSE, SEC, and local stakeholders regarding the ISSB Standards and the Philippines’ roadmap for adoption. Topics covered during the meetings were the perspectives on Philippines’ jurisdictional roadmap towards adoption of the ISSB Standards, the status and possible future development of SEC ESG Guidance for sustainability reporting, organizational perspectives on ISSB’s future agenda, and capacity building needs. Speakers and participants during the Joint FSRSC and PSRC Meeting with ISSB CCaSS Partner Benjamin N. Villacorte, CCaSS Directors Ricardo Maulion Jr. and Diana Sadili-Chu, and CCaSS Associate Director Jouelle Nerveza-Sumile formed part of the CCaSS team.  ISSB guests during the meeting were Vice Chair Jingdong Hua, Director of Regulatory Affairs Jonathan Bravo, Strategic Affairs and Capacity Building Manager Evie Robertson. PSE and SEC Officers, as well as FSRSC and PSRC members also attended the meetings.

SGV Climate Change and Sustainability Services (CCaSS) Partner and Philippine Sustainability Reporting Committee (PSRC) Chair Benjamin “Benjie” N. Villacorte participated in the International Auditing and Assurance Standards Board (IAASB) Global Roundtable on the Exposure Draft of the Proposed International Standard on Sustainability Assurance (ISSA) 5000. The roundtable was held at the Securities Commission office in Kuala Lumpur, Malaysia. Benjie at the IAASB Global Roundtable As the PSRC Chair and Philippine representative, Benjie provided insights on the topics covered by the roundtable, such as the Proposed ISSA 5000 as the overarching standard for sustainability assurance, fundamental premises in the Exposure Draft of ISSA 5000, sustainability information reported, and communication and reporting. IAASB Global Roundtable Benjie was joined by sustainability reporting standard-setters, users of sustainability information, policy makers and regulators for reporting, and preparers of sustainability information. The roundtable aimed to gain insights from users of sustainability information reported externally by entities, preparers of such sustainability information, those charged with governance of entities, public officials, and other interested parties, along with their representative bodies and advisors on the proposed International Standard on Sustainability Assurance ISSA 5000 General Requirements for Sustainability Assurance Engagements.