News

MCM inducted as First Member of PRC CPD Council   Market Group 2 Leader Marydith C. Miguel (MCM) was inducted as the First Member of the Professional Regulation Commission Continuing Professional Development (PRC - CPD) Council for Accountancy, representing the Philippine Institute of Certified Public Accountants (PICPA). PRC Chairman Hon. Teofilo S. Pilando, Jr. led the virtual ceremony on 6 October. PRC Board of Accountancy Chairman Hon. Noe G. Quiñanola was also inducted as the Chairman of the Council. Other attendees included PRC Commissioners Hon. Yolanda D. Reyes and Hon. Jose Y. Cueto, Jr.  The CPD Council for Accountancy is responsible for the promotion and implementation of programs aimed at the continuous improvement of knowledge, skills and competencies of professional accountants.  Congratulations, MCM! 

SGV Partners and Senior Director join PCA forum  SGV Market Group 8 Leader Narciso “Jun” T. Torres (NTT), Assurance Partner Wenda M. Loyola (WML) and Strategy and Transactions Consultant Alex Dacanay were guest speakers at the Philippine Constructors Association, Inc. (PCA) Talks series on 19 September. With the theme Looking Ahead: What Our Future Looks Like, the webinar discussed the pandemic’s impact on the Philippine construction industry. Representatives from PCA member companies attended the briefing.     NTT provided an overview of SGV and its services. WML presented a market outlook of the construction sector and discussed latest updates and key forecasts on the global, Asian and Philippine construction markets. Emphasizing the pandemic’s impact on construction and infrastructure, she presented key trends in public infrastructure and green investments, public-private partnerships, and public transit, among others. Alex then shared Philippine economic updates and key economic growth drivers and trends in the construction industry. He discussed the government’s Philippine Program for Recovery with Equity and Solidarity (PH-PROGRESO) plan, including the Bayanihan I and II Acts.   The presentations were followed by a panel discussion led by PCA President Will Decena, SMC TPLEX Corporation Chairman Rogelio Murga, DATEM, Inc. President Morris Agoncillo, and Congressman Bayani Fernando. They discussed the challenges that construction companies face in restarting their businesses and action plans on how they can strengthen their operations and increase their resilience

Talent joins EY Rebuilders Campaign  SGV’s Talent team, together with the EY Talent community, participated in the EY Global Campaign last 14-25 September. With the theme Rebuilding Your Working World, the program aimed to help those impacted by the pandemic to rebuild and restart their careers through a series of Facebook Live workshops on recruitment-related topics.    JOM, Michelle, Krista, KC, Camille and Mariane during the Facebook Live sessions with other members of the EY Talent community  Talent Leader and Assurance Partner Julie O. Mateo (JOM) was one of the speakers at the Inspire & Ignite Graduate Session where she shared stories on her career journey. She encouraged participants to keep an open mind and explore and widen their career options. She also shared tips on how graduates can navigate the new normal working world. SGV Employer Branding Supervisor Michelle Ong moderated the session. Other speakers included Financial Services Organization APAC Talent Leader Young-Sook Stewart and APAC Talent Attraction and Acquisition Director and Global Strategy and Transactions Recruiting Lead Eva Brookes.  Talent Associates Krista De Guzman, KC Dilla, Camille Pascual, and Mariane Riano participated in different Facebook Live sessions on the four crucial areas in rebuilding one’s career journey: becoming one’s best self, creating an effective resume, building a personal brand, and preparing for an interview.  Over 7,400 people from 99 countries joined the Rebuild Your Working World Facebook group, and over 20,000 viewers tuned in to the live sessions. For more information about the campaign, please visit EY.com. 

Tax Partners hold webinar with SEIPI SGV Tax Partners Cheryl C. Ong (CCO) and Deonah Marco-Go (DMG) were resource speakers at the General Membership Meeting of the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) held last 17 September.   CCO led the discussion on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill and its salient provisions. She also provided insights on how companies can maximize the incentives under the bill and prepare for the proposed tax reforms.   DMG discussed the latest BIR Transfer Pricing issuances, particularly Revenue Regulations No. 19-2020 which prescribes the use of the new BIR Form No. 1709, and Revenue Memorandum Circular Nos. 76-2020 and 98-2020 which clarify certain issues on the filing of BIR Form No. 1709 and its attachments. She discussed the issuances’ salient provisions and how taxpayers can comply with the new requirements. 

CCaSS Senior Associate talks about sustainability at University webinars  Climate Change and Sustainability Services (CCaSS) Senior Associate Venson Cai participated in webinars hosted by the College of Construction Sciences and Engineering of the University of Makati and the College of Engineering of the University of the Philippines Diliman (UPD) last 12 and 17 September, respectively. Both webinars aimed to orient participants on different engineering research projects and their roles in sustainability. Participants included students, teachers, representatives from private firms, and local government officials.  Venson presenting at the UPD webinar  He presented his graduate research on the development and implementation of a recycling performance assessment tool for Philippine urban cities. His research can serve as a model for future performance improvements in the sector of waste management and recycling. He discussed the development of performance indicators and metrics to quantify and objectively assess waste management and recycling practices of Philippine urban cities. He also demonstrated the assessment tool’s sample application in Pasig City.  

CCO joins EY ASEAN Tax webcast  SGV Tax Partner Cheryl C. Ong (CCO) was one of the speakers at the EY ASEAN Tax webcast last 17 September. The webinar covered how ASEAN companies and potential investors can optimize their investments in Malaysia, the Philippines and Myanmar. The presenters discussed how businesses can benefit from a global investment strategy on relocation and expansion, maximizing the benefits of COVID-19-related incentives in the three countries.     CCO presenting at the EY ASEAN Tax webcast  CCO discussed key points and relevant issues in investing in the Philippines and provided an overview of Philippine tax incentives, emphasizing the recent proposed tax reforms and items under the 2017 Investment Priorities Plan (IPP). She also discussed local COVID-19-related incentives under Republic Act No. 11469 or the Bayanihan to Heal as One Act.   Other speakers included EY ASEAN Tax Leader Amarjeet Singh; EY Global Incentives, Innovation and Location Services Leader Brian R. Smith; and EY Myanmar Tax Director Phyo May Thaw. 

CCO speaks at PAMPI meeting  On 23 September, SGV Tax Partner Cheryl C. Ong (CCO) was also a guest speaker at the General Membership Meeting of the Philippine Association of Meat Processors Inc. (PAMPI). Over 60 participants composed of representatives from manufacturers of processed meats and suppliers attended the meeting.   CCO with participants at the PAMPI meeting  She discussed tax updates on recent BIR issuances, the Bayanihan 2 Law, and pending legislation before Congress. She also discussed newly issued regulations such as the submission of BIR Form No. 1709 and related attachments on related-party transactions, the Voluntary Assessment and Payment Program for Taxable Year 2018 (RR No. 21-2020), the CREATE bill, and the extension of the period to avail of estate tax amnesty (House Bill No. 7068). 

Cebu holds CREATE webinar  SGV Cebu organized a webinar on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill for members of the Mactan Export Processing Zone Chamber of Exporters and Manufacturers (MEPZCEM) and the Association of MEPZ Controllers and Accountants (AMCA) last 18 September. Tax Manager Anne Momongan moderated the session.   CCO presenting at the CREATE webinar  SGV Tax Partner and SGV Cebu Partner-in-Charge Cheryl C. Ong (CCO) discussed updates on the bill’s progress, its salient provisions and proposed tax incentives. She explained business strategies companies can explore to maximize the bill’s incentives, creating better opportunities for their businesses. She also provided insights on how companies can prepare for the proposed tax reforms. The webinar’s organizing team included Tax Managers Karen Mae Calam-Ibanez, Edmond Emperio and Senior Associate Wennonah Marie Garces. 

COIN Team holds ASEAN Tax webcast  SGV’s China Overseas Investment Network (COIN) team, led by Tax Partners Fidela Francisca I. Reyes (FIR) and Maricris U. See (MUS) and Assurance Senior Manager Jonathan Bino, facilitated a webinar titled Going Global Webinar Series 2: Investing in Malaysia and the Philippines last 18 September. The webinar was conducted in Mandarin and hosted by EY China. Other speakers included members of the EY Malaysia COIN Team.  FIR, MUS and Jonathan with other members of the EY ASEAN COIN Team   The speakers discussed the tax considerations in setting up manufacturing facilities in or transferring supply chain operations to the Philippines. They presented local policies and regulations that may impact existing and new investors, such as COVID-19-related stimulus plans and tax incentives intended to mitigate the impact of the pandemic. The webinar was well-received by participants composed of executives and representatives from Chinese companies.  

JER cluster donates laptops to orphanage  The COVID-19 pandemic has made it difficult for underprivileged children, who lack access to adequate resources and technology, to continue their education through remote learning. Tax Principal Jules E. Riego (JER) led his cluster in donating 20 pre-loved laptops to children from the Bahay at Yaman ni San Martin de Porres, Inc. orphanage in Bustos, Bulacan. The JER cluster also shared in the cost of the Microsoft Office programs installed in the laptops.  JER turned over the donations to Orphanage Director Fr. Florentino S. Concepcion on 22 September. He received touching letters from the children who expressed their gratitude, saying that the donations inspired them to study hard and achieve their dreams.      Letters from the children at the orphanage  The orphanage is currently home to 146 children who are still in need of laptops and other learning materials. For more information on how to donate, please contact JER at jeriego@icloud.com.