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SGV Global Compliance and Reporting (GCR) Partners Hentje Leo L. Leaño and Joanna T. Dela Chica were resource speakers on the topic of Value-Added Tax (VAT) in SGV Makati’s Tax Basics Seminars (Tax BaSe) series held at the Washington SyCip Development Center (WSDC). Leo was also a speaker in the Clark leg of the series held at the SGV Clark Office. There were 133 participants in Makati and 60 in Clark. Leo discusses CREATE Act VAT updates Joanna (left) discusses input VAT substantiation requirements The sessions focused on providing the participants with an updated and in-depth understanding of the basic concepts of VAT and the VAT filing and administrative requirements. Leo and Joanna’s discussions highlighted the VAT provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and updates on the related BIR issuances, especially their impact on Ecozone locators. For the Clark sessions, Leo focused on the impact on entities registered with the Clark Development Corporation (CDC) and the Subic Bay Metropolitan Authority (SBMA), and other Ecozone locators. Leo (right) at the Clark leg of the SGV Tax BaSe series SGV Clark Partner-in-Charge Atty. Margaux A. Advincula delivered the opening remarks, while Market Group 7 Leader Jose Pepito E. Zabat delivered the welcome remarks in Clark.

SGV Global Compliance and Reporting (GCR) Senior Director Meynard L. Sardalla served as a resource speaker at the General Membership Meeting (GMM) of the Association of Hotel and Restaurants Finance Officers of the Philippines (AHARFOPHIL) on 27 July 2023 at Ascott Bonifacio Global City. Finance and accounting officers of member restaurants and hotel properties across the Philippines attended the meeting. SGV GCR Senior Director Meynard L. Sardalla at the AHARFOPHIL GMM Meynard talked about common BIR findings for hotels and restaurants and provided relevant tax updates applicable to the hospitality industry. He also discussed the pending bill on taxation of digital services and its implications for hotel and restaurant operators. Sonia (third from left) with Meynard (center) as he accepts his certificate of appreciation from AHARFOPHIL Market Group (MG) 7 Leader Jose Pepito E. Zabat, GCR Leader Sonia D. Segovia, and Senior Managers Grail B. Ragos and Marc Bonnie B. Wong were also present at the GMM.

The SGV global bank team led by SGV Assurance Partner Janeth T. Nuñez-Javier and Business Consulting – Risk Partner Conrad Allan M. Alviz conducted a tree planting activity at the Laguna-Quezon Land Grant in Siniloan, Laguna. The Laguna-Quezon Land Grant is part of the Sierra Madre reforestation and rehabilitation efforts. SGV global bank teammembers The SGV global bank team (Assurance, Consulting-FAIT) planted 150 bani native trees as part of the EY global bank team’s corporate social responsibility (CSR) activities. The SGV team’s tree-planting activity, which coincided with Philippine Arbor Day, was in line with the SGV global bank team’s goal to contribute to the preservation of Philippine biodiversity and promote sustainable practices in the community. Janeth plants bani native tree SGV global bank teammembers during the tree planting activity 

SGV Indirect Tax (IDT) Principal Atty. Alden C. Labaguis and Global Compliance and Reporting (GCR) Senior Director Marivic “Mavic” M. Rebulanan served as resource speakers at the in-person training event organized by the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) for the Association of SEIPI Finance Executives (ASEFEX), in collaboration with SGV. Approximately 60 ASEFEX members, including SEIPI partners and stakeholders attended the training, which was held at the Washington SyCip Development Center (WSDC) Training Rooms, SGV I Building in Makati City. Event poster Mavic kicked off the training with a discussion on the significance of Transformative Tax Compliance requirements. She provided updates from the Bureau of Internal Revenue (BIR) regarding invoicing and receipting requirements, the proper income tax treatment of equity-based compensation, the creditable input tax on capital goods, and the relevant tax changes in 2023. Alden discussed and compared the Bureau of Customs (BOC) and BIR’s audit processes, along with recent implementing rules and regulations, including crucial dates to remember and the remedies available to taxpayers and importers throughout the audit process, while also highlighting the significant differences between BIR and BOC audits. He further shared the latest developments and issuances related to BIR and BOC audits, including notable cases decided by the Court of Tax Appeals (CTA) and the Supreme Court (SC). Technology Sector Leader and Assurance Partner Manolito R. Elle and Alden led the coordination of the training, while IDT Associate Director Atty. Lauren Antonette M. Mendoza, and IDT Senior Associates Attys. Kierk Robin M. Ret and Natividad G. Busa formed part of the organizing team.

SGV Indirect Tax (IDT) Principal Atty. Alden C. Labaguis moderated the Aguhon 2 Leadership Summit Plenary Session organized by Public Administration students from the Polytechnic University of the Philippines (PUP). The event, titled "Lost in the Woods: Exploring the Uncertainty Towards Effective Leadership," was held at PUP Sta. Mesa on 29 July 2023. Event poster Professor Ralph Reuben C. Morales gave the opening remarks, followed by Anti Red Tape Authority (ARTA) Usec. Gerald Divinagracia’s discussion on the latest updates and reforms of the ARTA, and the Plenary Session moderated by Alden.  Alden facilitated discussions on responsible leadership and its link to good governance. The speakers shared their insights on the challenges posed by the rapidly changing environment in the Philippines, making effective governance and ethical leadership challenging. They also discussed their experiences with accountability, transparency, and ethical decision-making in the country. The speakers concluded the session by sharing strategies on how to promote responsible leadership, integrity, and good governance practices in the Philippines. The Plenary Speakers were Usec. Gerald Divinagracia, Former Kabataan Partylist Representative Sarah Jane Elago, incumbent Baguio City Mayor Benjamin Magalong, Kaya Natin Movement for Good Governance Board Member Jess Lorenzo, and RTI International Senior Technical Adviser Jaime Bonifacio Jr.  Malcolm Law Partner Atty. Alex Lacson concluded the event by delivering an inspirational message to the attendees. About 200 students from PUP and other universities attended the session. The coordinating team for SGV was led by IDT Associate Director Atty. Lauren Antonette M. Mendoza, assisted by IDT Senior Associates Atty. Kierk Robin M. Ret and Atty. Natividad G. Busa.

SGV Indirect Tax (IDT) Principal Atty. Alden C. Labaguis was a resource speaker at the "VAT Zero Rating on Local Purchases" seminar organized by PortCalls and the Philippine Multimodal Transport and Logistics Association, Inc. (PMTLAI) on 4 August 2023. About 140 participants and representatives from different logistics companies in the Philippines attended the event, which was held at the Ballroom of Citadines Bay City Manila.  Event poster Alden led the topic discussion on VAT Zero Rating on Local Purchases and discussed several BIR issuances. He also discussed common issues that may be encountered by taxpayers when applying for VAT refund. Alden interactively addressed questions from the participants during the open forum toward the end of the seminar. SGV Tax team with PEZA and PortCalls representatives PMTLAI Training and Education Chair Doris Torres delivered the welcome remarks, while Philippine Economic Zone Authority (PEZA) Deputy Director General (DDG) on Operations Vivian Santos discussed recent PEZA updates. DDG Santos also addressed questions from the participants after her discussion. Alden led the SGV coordinating team for the seminar. He was assisted by IDT Associate Director Atty. Lauren Antonette M. Mendoza, and IDT Senior Associates Attys. Kierk Robin M. Ret and Natividad G. Busa. International Tax and Transaction Services (ITTS) Partner Atty. Auresana "Rhena" B. Ines, ITTS Senior Associates Attys. Ronalyn L. Mamauag and Warlyn D. Dumo, along with Executive Assistant Cristine D. Limho also attended the event.

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte was a panelist in the Philippine Power Plant Energy Summit panel discussion on the topic “The Future of Energy Sector in the Philippines” held at Novotel Manila, Araneta Center, Quezon City. Benjie (second from left) with the other panelists and moderator during the panel discussion Benjie stressed the significance of environmental, social, and governance (ESG) in initiatives related to community life and poverty alleviation. He talked about economic and ESG goals and third-party assurance. He also advocated for the adoption of the new International Sustainability Standards Board (ISSB) Sustainability Reporting Standards to improve sustainability reporting. Benjie underlined the importance of hybrid sources, greenhouse gas accounting, sustainability reporting, and profitability for climate adaptation, resilience, and community support. He noted the need for enterprise risk management to consider the importance of climate scenario analysis and recognize transition risks in a low-carbon economy. Benjie (second from left) with the other panelists and moderator receiving their plaques of appreciation He further highlighted that acquiring carbon credits is not a license to pollute and that emission reduction actions should take precedence over purchasing credits. According to Benjie, the Philippines has the capacity to generate carbon credits, but there is no framework in place yet to ensure compliance with Nationally Determined Contributions (NDCs). Benjie (second from right) with CCaSS Manager Judd P. Tablazon and CCaSS Senior Associates Joyce Anne A. Soriano and Louie Adrianne R. CediñoOther panelists were Renewable Energy Association of the Philippines President Erel Narida and AboitizPower Chief Operating Officer for Power and Aboitiz Data Innovation and Chief Data and AI Officer Luis F. Gonzalez. Quisumbing Torres Partner Atty. Dennis A. Quintero served as the moderator. The Philippine Powerplant Energy Summit gathered government authorities, stakeholders, experts, and contractors to promote renewable energy mix, including coal-based electricity generation, using cutting-edge technology, practices, and equipment.

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte was a keynote speaker at the European Chamber of Commerce of the Philippines (ECCP) Forum Workshop on Extended Producer Responsibility (EPR) held at the Spaces World Plaza in Taguig City. The event was attended by various industry leaders and representatives from manufacturers, importers, and distributors of consumer products, as well as waste diverter partners. Benjie (far right) answers questions from the audience in a panel discussion, alongside (from left to right) Atty. Jonas Leones, Mr. Crispian Lao, and Atty. Angela Edralin-Valencia Bejie’s discussion focused on the EPR Compliance Audit Report requirements, the assurance process, and the role of SGV as an independent third-party auditor for entities in the EPR ecosystem. He also served as one of the panelists in an open forum, together with DENR Undersecretary Atty. Jonas Leones, National Solid Waste Commission Vice Chair Crispian Lao, and Ecoloop Director Atty. Angela Edralin-Valencia. Benjie was also joined by SGV Manager Charmaine T. Dialde and Senior Associate Keith S. Celebre who facilitated the workshop alongside ECCP. Charmaine and Keith addressed questions and clarifications from the participants about the EPR law and its implementing rules and regulations. The program concluded with a workshop, where the attendees exchanged ideas on how to establish their EPR programs, either as an individual entity or through a Producer Responsibility Organization (PRO), for the effective implementation of the EPR law in their respective companies. 

SGV Transaction Diligence Partner and Asian Institute of Management (AIM) alumnus Miguel Carlo “Mickey” S. Rancap was a speaker at the inaugural General Assembly of the AIM Management Consulting Club on 5 August 2023 at AIM. Over 130 AIM graduate school students attended the event. Mickey talks about becoming better business advisors In line with the General Assembly’s objective to inform and inspire, Mickey talked about client-centric behaviors that help one succeed as a business advisor. He shared that every conversation that business advisors have with their clients is an opportunity to advance the relationship, to build trust, to get to know them and their business better. Mickey emphasized the need to cultivate a client-centric mindset that embodies behaviors such as asking better questions, listening proactively, relating empathically, and contributing insightfully. AIM Management Consulting Club Inaugural General Assembly attendees He also mentioned that business advisors should not only provide technical expertise but should also align with the clients’ needs that are broader in focus and more strategic in nature. He added that this will provide the opportunity to enhance, augment, and improve their client relationships. Mickey concluded that a business advisor's role is to utilize a strategic approach to better understand the clients’ issues, and help clients achieve their objectives and address their pressing problems. The business advisor does not only provide answers; he shows clients how to arrive at the most logical and conclusive solutions. Strategy and Transactions (SaT) Associate Director William Angelo G. Lim, a fellow AIM alumnus, also attended and supported Mickey during the event.

SGV Chairman and Managing Partner Wilson P. Tan and Strategy and Transactions (SaT) Partner Marie Stephanie Tan-Hamed represented SGV at the contract signing with the Department of Transportation (DOTr) on 18 August 2023. SGV is one of the professional services firms undertaking feasibility studies on various transportation transformation projects. SGV will be undertaking a feasibility study for the Manila Bay – Pasig River – Laguna Lake Ferry System project. (From left to right) Strategy and Transactions (SaT) Partner Marie Stephanie Tan-Hamed, DOTr Secretary Jaime Bautista, SGV Chairman and Managing Partner Wilson P. Tan, EY Singapore Partner Lynn Tho, and USEC TJ Batan at the contract signing Other signatories and attendees included DOTr Secretary Jaime Bautista, USEC TJ Batan, PPP Center Executive Director Ma. Cynthia Hernandez, PPP Center Deputy Executive Director Eli Ricote, EY Singapore Partner Lynn Tho, representatives from other consultants, and other officials of the PPP Center and the DOTr.