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SGV, in collaboration with the Nordic Chamber of Commerce (NordCham), conducted a seminar on 18 June 2024 entitled "Tax Changes in the Philippines: Understanding RMC 5-2024 and the Impact of EOPT." The seminar aimed to update stakeholders on the latest tax regulations and compliance requirements. SGV Tax Principal Atty. Victor de Dios, Tax Partner Atty. Deonah Marco-Go, and Tax Principal Atty. Donna Frances Ylade-Torres during the Q&A session SGV Tax Partner Atty. Deonah Marco-Go and SGV Tax Principals Atty. Victor de Dios and Atty. Donna Frances Ylade-Torres served as resource speakers. Atty. Deonah initiated the session with an in-depth discussion on the recently issued RMC 05-2024, which further clarifies the proper tax treatment of cross-border services following the Supreme Court En Banc Decision in Aces Philippines Cellular Satellite Corp. v. the Commissioner of Internal Revenue. She highlighted the significance of the memorandum and its potential effects on business stakeholders. Atty. Donna discusses simplifying tax payment procedures The seminar's second segment addressed best practices and tax compliance under the newly implemented Ease of Paying Taxes (EOPT) Law. Atty. Donna explained the streamlined tax payment process for individuals and businesses. Atty. Vic concluded the seminar by sharing his knowledge on customs audits and related Bureau of Customs (BOC) regulatory compliance. The event wrapped up with a panel Q&A session, allowing attendees to seek further clarification on various tax matters from the speakers.

SGV Financial Services Organization (FSO) Financial Crime Risk Management (FinCrime) and Anti-Money Laundering (AML) Associate Alech Nicole C. Margallo is now a Certified Audit and Investigations Professional (CAIP), Certified Anti-Financial Crime Professional (CFCP), and Certified Money Laundering Prevention Professional (CMLP).  SGV FSO FinCrime–AML Associate Alech Nicole C. Margallo, CAIP, CFCP, CMLP Alech completed a series of courses and modules and passed the respective online examinations for CAIP, CFCP, and CMLP. She was certified by the Financial Crime Academy, an external online education provider for the global anti-financial crime community. The CAIP certification qualifies professionals to conduct thorough investigations into corporate misconduct. The CFCP certification provides understanding of financial crime prevention frameworks. The CMLP certification focuses on combating money laundering and terrorist financing. Alech quotes Paulo Coelho, saying that impossible is just an opinion. She believes that success is attainable when we believe it is possible.  Congratulations, Alech!

Members of the SGV Cebu team participated in the Written Exam Challenge organized by the Philippine Institute of Certified Public Accountants (PICPA) Cebu Chapter as part of their Accountancy Week Celebration from 14 to 20 July 2024. SGV was one of the sponsors for the event.   SGV Proctors with the Written Exam Challenge participants SGV Associate Director Atty. Ernest Adrian Co and Senior Associates Atty. Trixia Lou Diaz and Atty. Christine Rose Y. Lagura-Ortelano served as proctors during the Written Exam Challenge for Regulatory Framework for Business Transactions (RFBT) held on 15 July. (From left to right) PICPA Cebu Sectoral Director for Education Gensbergh G. Rago, Former PICPA Cebu President Katherine Mae S. Migriño, PICPA Cebu Secretary Earl Lorenz N. Minerva, PICPA Eastern Visayas Region Senior Regional Director and National VP For Education Sugar B. Sagarino, SGV Associate Director Atty. Ernest Adrian F. Co, SGV Senior Associate Atty. Trixia Lou A. Diaz, and SGV Senior Associate Atty. Christine Rose Y. Lagura-Ortelano SGV Senior Associate Atty. John Carlos M. Canonigo (left) and Associate Directors Atty. Ernest Adrian Co (fifth from left) and Stewart Herbie T. Po (sixth from left) pose for a group photo with the Top 10 Students SGV Associate Directors Atty. Ernest Adrian Co and Stewart Herbie T. Po, along with SGV Senior Associate Atty. John Carlos M. Canonigo, presented awards to the Top 10 Students and Top 5 Schools who achieved the highest scores among all participants in the written exam. The awarding ceremony took place on July 18. SGV Cebu Partner-in-charge Margem A. Tagalog and SGV Cebu Partners Saha A. Bulagsak and Anne Margaret E. Momongan-Lim provided support and guidance to the members of the SGV Cebu team during the event.

SGV Forensic & Integrity Services (FIS) Associate Nikka Andrea G. Bagaporo passed the Certified Fraud Examiner (CFE) exam. She successfully completed the four key sections of the exam: Investigation, Financial Transactions & Fraud Schemes, Fraud Prevention & Deterrence, and Law.  SGV FIS AssociateNikka Andrea G. Bagaporo, CFE Recognized globally, the Certified Fraud Examiner credential denotes proven expertise in fraud prevention, detection, and deterrence. CFEs are trained to identify the warning signs of fraud and fraud risk, helping to protect the global economy by uncovering fraud and implementing processes to prevent fraud from occurring in the first place. CFEs combine knowledge of complex financial transactions with an understanding of investigative techniques, law, and how to resolve allegations of fraud. The CFE exam is administered by the Association of Certified Fraud Examiners (ACFE) - the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Congratulations, Drea!

SGV collaborated with international entrepreneurship leaders at the annual Youth Co:Lab Summit in Manila, aimed at nurturing inclusive youth entrepreneurship. The summit's theme this year underscored the crucial role young entrepreneurs play in driving sustainable innovation and extending their reach to underserved communities, while advocating for a just and inclusive green economy. Youth Co:Lab hosts welcome summit participants The two-day summit held from 26 to 28 June at the Asian Development Bank featured a series of key activities including a session on embracing setbacks as opportunities for innovation, a mentorship initiative addressing critical challenges, and a forum for providing constructive feedback to more than a dozen youth-led startups. SGV Partners, Principals, and Managers worked with leaders and representatives from Citi Bank, Citi Foundation, and the Asian Development Bank, offering their insights to support purpose-driven entrepreneurs. They also encouraged fostering inclusive entrepreneurship and actualizing the principles of EY Ripples and Diversity, Equity, and Inclusion (DEI). Partners and Principals who were present at the event were Kristopher S. Catalan, Janeth T. Nuñez-Javier, Christian G. Lauron, Smith C. Lim, Francis J. Ricamora, Christine G. Vallejo, and Leomar G. Velez. Managers Joaquin Mikhail A. Afable, Paul John B. Gesta, Reah D. Gordo, Ruben D. Simon Jr., Kim Lemuel F. Velasco, and Von Zierwin M. Villanueva were also present.  The summit convened a diverse group of over 300 youth entrepreneurs, government officials, Entrepreneurship Support Organizations (ESOs), corporations, impact investors, and community organizations from the Asia Pacific region, all committed to shaping a just and sustainable future.

SGV Assurance Partner and Philippine EY Private Leader Kristopher S. Catalan, along with Assurance Managers Arvin C. Bartolome and Krys Joanne J. Adison, participated in Holy Angel University’s (HAU’s) 9th Program Advisory Council Meeting held at the University’s PGN Building on 11 June 2024.  SGV Assurance Partner and Philippine EY Private Leader Kristopher S. Catalan (center) at the 9th Program Advisory Council Meeting Centered on the theme "Future-Proofing Education: Navigating Sustainability and Flexibility in the Business Environment," the meeting focused on closing the gap between the competencies and skills taught in universities and those needed in the real world. HAU alumni and business representatives offered insights and recommendations for enhancing HAU's curriculum for the upcoming academic year. As an HAU alumnus, Kristopher represented SGV at the meeting, where he discussed the importance of initiating real-world competencies and skills at the university level. He highlighted the influence of an organization's sustainability goals on its business objectives and proposed ways for HAU and other institutions to address this gap. Kristopher also stressed the importance of instilling entrepreneurial values early on, noting the Philippines' need for entrepreneurs to fuel economic growth. Other participants contributed feedback for refining the current courses, with a particular emphasis on student mental health and the core and soft skills required to navigate workplace disruptions.

SGV Sustainability Services Lead Partner and Philippine Sustainability Reporting Committee (PSRC) Chairman Benjamin N. Villacorte led the PSRC Private Sector Forum on 16 July 2024.  Benjamin leads PSRC Private Sector Forum Benjamin discussed the Prototype Philippine Jurisdictional Roadmap for adopting International Sustainability Standards Board (ISSB) Standards.  The forum highlighted the presentation on the prototype roadmap, engaged participants in a Q&A session, and reiterated PSRC's dedication to advancing sustainable and resilient practices. The event, which saw over 400 attendees from various companies and stakeholders, also introduced the PSRC members, explained the roadmap's development, and discussed the global and regional progress on ISSB Standards adoption.

SGV Sustainability Services Lead Partner and Philippine Sustainability Reporting Committee Chairman Benjamin N. Villacorte served as a resource speaker at the Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region (MMR) Accountancy Week Celebration 2024 Opening Ceremony and MMR Day. The event took place on 15 July 2024 at the Edsa Shangri-La Hotel in Mandaluyong City. Benjamin talks about the EPR Act Benjamin discussed the Extended Producer Responsibility (EPR) Act, emphasizing the significance of sustainable practices and their role in reshaping the future of accounting and environmental stewardship. He was joined by other speakers who talked about Corporate Finance, Agile Accounting, and Ease of Paying Taxes (EOPT) Implementation during the technical sessions.

SGV Partners and Managers joined the 2024 Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region (MMR) Geographical Area Office (GAO) Tax Conference with the theme “Adapting to Change: Navigating Economic Shifts and Tax Reforms and Developments in 2024.” The event was held on 25 June 2024 at the Century Park Hotel Grand Ballroom in Malate, Manila. Around 300 participants attended the event. Tax Conference Co-Chair Meynard Sardalla, PICPA MMR Chair and GAO Regional Director Sonia D. Segovia, SGV Alumni Partner Gerry B. Sanvictores, Tax Conference Committee Chair Maricris U. See, PICPA SMMC President Aileen L. Saringan, and Tax Conference Committee Member Earvin Darren Lee PICPA MMR Chair and GAO Regional Director Sonia D. Segovia and Tax Conference Committee Chair Maricris U. See led the PICPA MMR GAO team. Tax Senior Directors Meynard Sardalla and Earvin Darren Lee served as Co-Chair and Committee Member, respectively. Meynard and Earvin also served as the Masters of Ceremonies during the event. Atty. Deonah discusses cross-border transactions and transfer pricing audit Tax Partner Atty. Deonah L. Marco-Go discussed the transfer pricing rules and regulations in the Philippines, and how they compare to global transfer pricing trends. BIR Commissioner Hon. Romeo “Jun” Lumagui Jr. delivers his keynote speech Bureau of Internal Revenue (BIR) Commissioner Romeo “Jun” Lumagui Jr. delivered his keynote speech on the BIR’s achievements, ongoing programs, and plans, which aim to promote better taxpayer services and better growth and collections. Panel discussion on handling tax issues, EOPT, cross-border transactions, transfer pricing audit and tax on digital economy with Tax Conference Committee Chair Maricris U. See (right) as panelist (Photos courtesy of PICPA) The session concluded with a roundtable discussion joined by Maricris. Questions and clarifications on the topics discussed and other tax-related queries from the audience were addressed. PICPA Southern Metro Manila Chapter (SMMC) President Aileen L. Saringan, PICPA Western Metro Manila Chapter (WMMC) President Peter John R. Ventura, and PICPA MMR GAO Council Treasurer Francis Ricamora introduced some of the speakers. SGV Tax Partner Frances Rose J. Villamayor was also in attendance.

SGV Chairman and Managing Partner Wilson P. Tan, SGV Sustainability Services Partner and Philippine Sustainability Reporting Committee (PSRC) Chair Benjamin N. Villacorte, and SGV Consulting Partner Allan W. Ocho joined the 31st Accounting Teachers Conference organized by the National Association of CPAs in Education (nACPAE). The event was held from 13 to 15 June 2024 at the University of Santo Tomas. SGV Chairman and Managing Partner Wilson P. Tan (second from right) receives plaque of appreciation Wilson engaged with accounting educators and industry representatives as a reactor in the Kapihan Session. He provided insights on the sustainability of accounting education, in relation to UST-AMV College of Accountancy Dean Patricia M. Empleo's presentation. SGV Sustainability Services Partner and PSRC Chair Benjamin N. Villacorte (center) receives plaque of appreciation Wilson also discussed reviving the attractiveness of the accounting practice, emphasizing SGV's role in providing diverse opportunities within the profession, including tax and consulting services, and focusing on culture, continuous learning, and innovation. SGV Consulting Partner Allan W. Ocho (center) receives plaque of appreciation He also highlighted the importance of collaboration with the academe, enhancing the accounting curriculum with current issues like sustainability and cybersecurity, and upgrading the profession's image to attract future talent. The session aimed to redefine the roles of accounting teachers in sustaining the profession beyond the CPA licensure examinations. Benjamin and Allan served as resource speakers for the technical sessions titled "Preparing Accounting Teachers for Sustainability Reporting in the Philippines" and "AI and Professional Accountants: Is AI Coming for Your Job?" respectively.