News

Tax organizes CREATE webinar  SGV’s Tax Team held a webinar last 14 December on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, as approved on the 3rd and final reading by the Senate. Chairman and CMP Wilson Tan delivered the opening remarks and welcomed over 1,300 participants from the banking, hotel, manufacturing, real estate, power, BPO and insurance industries, among others.   Speakers and members of the webinar’s organizing team  Tax Leader Fame K. delos Santos (FKS) and Tax Partner Cheryl C. Ong (CCO) discussed the bill’s salient features, developments and incentives in corporate income tax. They also provided insights on how companies can maximize and prepare for the proposed tax reforms. Tax Principal Lucil Vicerra also discussed Customs Audit Reminders, including VAT incentives and Performance Commitments.   The webinar concluded with a question and answer portion led by FKS and CCO, who were assisted by Tax Partner Thyrza Marbas. Tax Senior Manager Betheena Dizon hosted the session. The webinar’s organizing team included Tax Senior Manager Karen Mae Calam; Manager Aiza Giltendez; and Senior Associates Wennonah Marie Garces, Kyle Almero, and Ma. Gabriellen Quijada. 

SGV’s Tax Team held a webinar last 14 December on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, as approved on the 3rd and final reading by the Senate. Chairman and CMP Wilson Tan delivered the opening remarks and welcomed over 1,300 participants from the banking, hotel, manufacturing, real estate, power, BPO and insurance industries, among others. Tax Leader Fame K. delos Santos (FKS) and Tax Partner Cheryl C. Ong (CCO) discussed the bill’s salient features, developments and incentives in corporate income tax. They also provided insights on how companies can maximize and prepare for the proposed tax reforms. Tax Principal Lucil Vicerra also discussed Customs Audit Reminders, including VAT incentives and Performance Commitments. The webinar concluded with a question and answer portion led by FKS and CCO, who were assisted by Tax Partner Thyrza Marbas. Tax Senior Manager Betheena Dizon hosted the session. The webinar’s organizing team included Tax Senior Manager Karen Mae Calam; Manager Aiza Giltendez; and Senior Associates Wennonah Marie Garces, Kyle Almero, and Ma. Gabriellen Quijada.

WRB participates in CSA panel discussion  SGV Technology Consulting Leader Warren R. Bituin (WRB) moderated a panel discussion during the 6th CyberSecAsia (CSA) webinar series titled The Modern Approach to Privileged Access Management last 5 November. Organized by Escom and sponsored by BeyondTrust, the webinar discussed the action steps that organizations can take to protect themselves from cyber-attacks.   WRB with the other members of the CSA panel  Engr. Jose Carlos Reyes, Director IV Cybersecurity Bureau of the Department of Information and Communications Technology, opened the session. WRB discussed the different security challenges caused by the pandemic – such as work-from-home arrangements, rapid digital platform adoption and third-party provider engagements – and how organizations can build a robust cybersecurity posture. Members of the panel highlighted the need to strengthen identity and access management, especially in controlling the use of privileged or administrator-level accounts. They also encouraged organizations to shift the focus of their cybersecurity roadmaps to proactively secure emerging technologies such as operational technology and the internet of things. 

SGV Technology Consulting Leader Warren R. Bituin (WRB) moderated a panel discussion during the 6th CyberSecAsia (CSA) webinar series titled The Modern Approach to Privileged Access Management last 5 November. Organized by Escom and sponsored by BeyondTrust, the webinar discussed the action steps that organizations can take to protect themselves from cyber-attacks. Engr. Jose Carlos Reyes, Director IV Cybersecurity Bureau of the Department of Information and Communications Technology, opened the session. WRB discussed the different security challenges caused by the pandemic – such as work-from-home arrangements, rapid digital platform adoption and third-party provider engagements – and how organizations can build a robust cybersecurity posture. Members of the panel highlighted the need to strengthen identity and access management, especially in controlling the use of privileged or administrator-level accounts. They also encouraged organizations to shift the focus of their cybersecurity roadmaps to proactively secure emerging technologies such as operational technology and the internet of things.

CGD joins panel at ECCP virtual conference  Consulting Partner Carlo G. Dimarucut (CGD) was one of the panelists at the Cybersecurity Risks & Trends online conference hosted by the European Chamber of Commerce of the Philippines (ECCP) last 17 November. CGD discussed cybersecurity governance trends and emphasized the importance of cybersecurity awareness. He also shared the impact of privacy on COVID-19 research efforts.    CGD with the other panelists at the conference   Other panelists included representatives from the Department of Information and Communications Technology (DICT), technology companies, and a professional services firm. They discussed emerging cybersecurity threats as a result of the COVID-19 pandemic as well as their impact on different organizations. They also shared tips on how businesses can prepare and protect their organizations against these cyberthreats. 

Consulting team talks about resilience at BCMAP Summit SGV’s Consulting Team joined the 3rd annual summit of the Business Continuity Manager’s Association of the Philippines (BCMAP) titled When the Unexpected Happens last 20 November. The summit featured sessions on how businesses are adapting and responding to the latest disruptions and challenges.  PBC and Shaun presenting at the BCMAP Summit  Consulting Principal Philip B. Casanova (PBC) and Associate Director Shaun Cusi discussed the EY Enterprise Resilience Framework which identifies nine key areas businesses can address to build a structured and comprehensive approach to crisis management and business continuity across the now, next and beyond. They also shared ten practical ways organizations can enhance their resilience.      Jay and Alvin presenting at the BCMAP Summit  Senior Associate Jay Yabes then led a session titled How it pays to be resilient. He discussed how different stakeholders view resilience, emphasizing its value in their continuous support and commitment to businesses. Senior Director Alvin Manuel talked about embedding agility in business continuity and resilience practice. He discussed how organizations can use agile principles to manage and respond to complex disruptions.   During the members meeting held after the summit, Jay and Alvin were also elected as Directors of the BCMAP for 2020-2021. BCMAP is a non-profit organization established to promote best practices and standards for business continuity and disaster recovery.

EY regional Partners pay tribute to JGC   In honor of the retirement of SGV Senior Assurance Partner and former Chairman and Country Managing Partner (CMP) J. Carlitos G. Cruz (JGC), the EY regional Partners prepared a special program during the recent regional Partners’ virtual meeting last 13 November. They presented a video featuring milestones in JGC’s career and notable achievements as CMP. Asia-Pacific Area Managing Partner Patrick Winter, ASEAN Regional Managing Partner Nam Soon Liew, and other EY Partners shared heartfelt messages for JGC, expressing their gratitude and wishing him all the best on the next part of his journey.  JGC with his token of appreciation In recognition of his nearly 40 years of service to the Firm, they also presented JGC with a token of appreciation – a bottle of bespoke whiskey engraved with his name

EY Ripples holds first-ever virtual business clinic The EY Ripples Team in SGV conducted its first virtual business clinic last 26 November. Co-organized with Endeavor Philippines, the program oriented impact entrepreneurs on leading practices in tax and financial planning aimed to drive growth in their respective organizations. SGV Chairman and CMP Wilson Tan and Assurance Partner Christine Vallejo welcomed impact entrepreneurs from companies which are mostly engaged in the fintech, medical, personal care, real estate and business process outsourcing industries.     The title slides of the presentations of SCL and KMC at the EY Ripples Business Clinic   Strategy and Transactions (SaT) Partner Smith C. Lim (SCL) led a plenary session on managing finances and provided an overview of accounting and interpreting financial statements. He explained key performance indicators in financial planning and budgeting, emphasizing the importance of managing cash flow. Tax Partner Kaye Sta. Maria-Constantino (KMC) then discussed the salient provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill and the latest BIR issuances on related-party transactions (BIR Form No. 1709). She also spoke on the BIR’s Voluntary Assessment and Payment Program (VAPP) for taxable year 2018. The plenary sessions were followed by group mentoring sessions in breakout rooms, where SaT, Assurance and Tax partners and managers addressed participants’ questions.    EY Ripples is a global corporate responsibility program that provides EY professionals with opportunities to use their knowledge, skills and experience to positively impact millions of lives by working with impact entrepreneurs and supporting the next generation to develop mindsets and skills to find and sustain meaningful work. 

GFCP insight session features GPS Team  Government and Public Sector (GPS) and Financial Services Consulting Leader Christian G. Lauron (CGL) and Senior Associate Arielle Papa were among the speakers at the Global Future Cities Programme (GFCP) South East Asia insight series. GFCP provides technical assistance for a set of targeted interventions to encourage sustainable development, increase prosperity and reduce urban poverty. Hosted by Mott MacDonald, the series featured presentations on the different interventions of global delivery teams. This included a presentation from the Cebu City delivery team composed of CGL, as the delivery deputy team leader, Arielle, as the program manager, and Senior Manager Christian Chua, as the lead for the data hub and infrastructure workstream.  Members of the Cebu City delivery team  Together with FC Cebu City Team Lead Allen Williams, they presented three interventions that aim to develop the City’s housing and urban planning strategy; flood, drainage and traffic management; and education and healthcare systems. They provided a comprehensive overview of each intervention, including their objectives, targeted Sustainable Development Goals, challenges, and delivery strategies.   The title slide of the GFCP presentation  GFCP Communications Coordinator Veronica Tang moderated the session which included engineering, design and urban planning consultants from EY, Broadway Malyan and Triple Line Consulting. The South East Asia GFCP consists of 13 targeted interventions in nine cities across six countries. EY is one of the private sector partners of the GFCP and supports interventions in selected cities, including New Clark and Cebu. The program is funded by the UK Foreign, Commonwealth and Development Office. To learn more about the program, please visit https://www.globalfuturecities.org/. 

SCL speaks at Future Energy Show Philippines Strategy and Transactions Partner Smith C. Lim (SCL) was one of the speakers at the Future Energy Show Philippines on 17 November. The event featured sessions on industry strategies, trends, and key innovations to help local energy stakeholders achieve growth in the area of renewable energy. Over 5,000 participants attended the webinar, including engineering, financial, legal and consulting professionals.  SCL presenting at the Future Energy Show  SCL led a session on financing solar rooftops where he discussed four approaches on financing a solar rooftop project: vendor financing, bank financing, leasing and power purchase agreement. He then compared the approaches in terms of risk sharing, accessibility and cost timing. He also shared insights on the recommended financing approaches based on their advantages to certain companies.  To watch SCL’s presentation, please visit https://tinyurl.com/SCLEnergyShow.