News

LLL speaks at MACCII webinar  Global Compliance and Reporting Partner Hentje Leo L. Leaño (LLL) led a tax webinar titled “Emerge Prepared after the Quarantine: Be Abreast with the Quarantine-related BIR Issuances and the Extended Tax Deadlines” for the Metro Angeles Chamber of Commerce and Industry, Inc. (MACCII) on 29 May. The webinar covered quarantine-related BIR issuances and extended tax deadlines, relating to donations, documentary stamp tax on qualified loans, authority-to-print, receipting/invoicing guidelines, qualified imported goods, acceptance of tax payments, extensions of the due dates for filing and payment of tax returns, and tax documents submission and payments to local government units. LLL also spoke on tax-related issuances of the Clark Development Corporation (CDC) and the Philippine Economic Zone Authority (PEZA).  MACCII tax webinar invitation  MACCII President Lourdes Connie Tayag welcomed over 50 participants to the webinar. MACCII Director Marco Fernando Ng hosted the session and MACCII Vice President for Economic Affairs Violeta “Bing” Gonzales delivered the closing remarks.   

SGV JBS joins ASEAN tax briefing  SGV’s Japan Business Services (JBS) team participated in an EY ASEAN tax webinar titled “Navigating COVID-19: Now. Next. Beyond.” on 27 May. Conducted in Japanese, the webinar discussed the tax implications of the pandemic in various countries. Over 400 Japanese executives and tax professionals from Japan and from ASEAN member states attended the briefing.   JBS and Tax Associate Director Hiroshi Nakagawa presented the latest Philippine tax, finance and legal changes due to the COVID-19 pandemic, such as ECQ-related BIR issuances on tax exemptions, extended statutory deadlines, and tax audit and controversy measures. Hiro also gave a brief overview of the stimulus packages of various government organizations, including the Social Security System (SSS), Philippine Health Insurance Corporation (PhilHealth) and the Pag-IBIG Home Development Mutual Fund (HDMF). He also explained the government’s social amelioration program (SAP) and small business wage subsidy, including moratorium on loan payments and rent concessions for MSMEs.    Title slide of the presentation at the SGV JBS webinar  Hiro also explained the salient features of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE). He emphasized the Act’s corporate tax rate reduction and extension period.

SGV leads BCCP webinar on business disruption  SGV Partners held a webinar on addressing business disruption for the British Chamber of Commerce Philippines (BCCP) on 18 May. The webinar discussed enterprise resiliency, economic transmission stimulus, and tax and economic measures. Participants included representatives from member companies of the BCCP and other executives from the business sector.   Consulting Partner and ASEAN Finance Fields of Play Leader Kaye S. Macaisa (KSM) presented recommended areas that enterprises can focus on for more effective COVID-19 crisis management. She shared tips on how enterprises and other businesses can sustain business continuity, build their resilience, and prepare for the future after the pandemic.   KSM, CGL and CCO presenting at the BCCP webinar  Financial Services Consulting and Government and Public Sector Partner Christian G. Lauron (CGL) discussed the bank stimulus transmission framework and its impact on citizens, small businesses and corporations in the Philippines. Tax Partner Cheryl C. Ong (CCO) spoke on tax and economic measures under the Bayanihan to Heal as One Act (Republic Act No. 11469). She explained the measures that the members of the business sector may qualify for and avail themselves of under the Act.    The event’s organizing team included Global Compliance and Reporting (GCR) Partners Aaron C. Escartin (ACE) and Maricris U. See (MUS). ACE was also the moderator of the webinar.   For more information about BCCP webinars and events, please email info@britcham.org.ph.  

Talent holds Wellness webinars  Dr. Niño Jose Mateo  The SGV Talent Team hosted wellness webinars for partners and staff on 13 and 15 May. Led by Dr. Niño Jose Mateo, the webinars aimed to help participants protect their mental health during the pandemic.    The webinar for partners titled "What's wrong with NOT being normal?" focused on personal wellbeing and on the partners’ roles as corporate leaders. Drawing on personal reflections and evidence-based knowledge, Dr. Mateo discussed life lessons to help participants navigate an uncertain future more effectively and with greater compassion.  The webinar for staff titled “The Wellness Playbook: A webinar on the ultimate guide to mental health” began with a discussion on the sources and effects of stress during the enhanced community quarantine (ECQ). Dr. Mateo then presented five principles for mental health care during the pandemic namely: physical health and safety, balance, intentionality, positivity, and meaningful connections. He also emphasized the importance of eating healthy and engaging in fitness activities, among other ways to cope with stress. He also encouraged participants to seek help when they are feeling mentally or emotionally tired.    Title slides of the presentations at the wellness webinars   Dr. Mateo is an associate professor of the Counseling department at the De La Salle University, where he also earned his PhD in Counseling Psychology, with high distinction. He is a certified counseling psychologist and a certified Choice Theory or Reality Therapy practitioner. He is a registered and practicing clinical psychologist and a registered guidance counselor.  

TFM leads PICPA tax webinar     Tax Partner Thyrza F. Marbas (TFM) led a tax briefing hosted by the Philippine Institute of Certified Public Accountants (PICPA) on 18 May. TFM discussed the latest Philippine Economic Zone Authority (PEZA) and Philippine Board of Investments (BOI) issuances, including relevant court cases.  PICPA tax webinar invitation   She also discussed tax reform packages, particularly the Corporate Income Tax and Incentives Rationalization Act (CITIRA) [HB No. 4157] and the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE). She explained their salient provisions and impact on PEZA- and BOI-registered companies.

EY-Parthenon and SGV conduct PRA webinar  EY-Parthenon and SGV partnered with the Philippine Retailers Association (PRA) for the conduct of a webinar titled “Navigating Retail Businesses beyond the COVID-19 Pandemic” on 11 May. The virtual session discussed how COVID-19 is accelerating disruption in the retail industry in ASEAN; how retail markets will shift after the pandemic; and the main growth drivers and leading operational strategies that businesses can implement to address immediate and long-term issues. PRA President Rosemarie B. Ong welcomed over 200 participants to the session, including members of the PRA and executives from the local retail industry.     Olivier Gergele, Ashutosh Deshmukh and BTB presenting at the PRA webinar   EY-Parthenon Partner Olivier Gergele provided a comprehensive overview of the global and local economic impact of COVID-19 on retail, such as the growth of online businesses, the emergence of new business models like dark kitchens, and the projected ASEAN economic outlook, among others.   EY-Parthenon Associate Partner Ashutosh Deshmukh discussed five areas that retailers can consider in navigating the impact of the pandemic: building an online business, driving supply chain resilience, expanding product offerings, taking advantage of lower valuations to achieve strategic acquisition, and driving agility and empowering organizations for fast local decision-making.    SGV Assurance Partner Belinda T. Beng Hui (BTB) discussed the EY resilience framework. Emphasizing the importance of scenario planning and implementation planning, she presented possible economic scenarios and industry forecasts that companies can study when developing their future operating strategies. She explained approaches that organizations can adopt such as identifying and addressing specific areas for improvement, and benchmarking current practices against the industry’s leading practices.     Speakers at the PRA webinar with moderator Rolly Pagaspas  The event’s local organizing team included BTB, SGV Strategy and Transaction Services Partner Ramon D. Dizon and Strategy and Transaction Services Partner Marie Stephanie Tan-Hamed.  

FSO Senior Director receives 2019 Elijah Watt Sells Award     FSO Senior Director Leslie Anne Huang  Financial Services Organization (FSO) Senior Director Leslie Anne Huang received the 2019 Elijah Watt Sells Award from the American Institute of CPAs (AICPA). Leslie was one of the 137 recipients of the award who obtained a cumulative average score above 95.50 across all sections of the Uniform CPA Examination, passed all four sections on her first attempt, and completed the test in 2019.   The AICPA is the world’s largest member association representing the accounting profession. The Elijah Watt Sells Award program was established by the AICPA in 1923 to recognize outstanding performance on the CPA Exam. Sells was one of the first CPAs in the U.S. and played a key role in advancing professional education within the profession.  Congratulations, Leslie!  

LJM speaks at IIAP Inspire Series    SGV Chief Risk Officer, EY ASEAN Regional Risk Management Leader and Consulting Partner Leonardo J. Matignas Jr. (LJM) was a guest at the #AskAnInternalAuditor: Inspire Series of the Institute of Internal Auditors Philippines (IIAP) on 13 May. The series is part of the IIAP’s celebration of International Internal Audit Awareness Month and aims to provide a channel where members can ask IA-related questions to gain more insights about the profession.   Having been a professional for 38 years, LJM inspired viewers with anecdotes of his experiences in various industries. He also shared tips on how to improve and develop internal audit skills and stay relevant. Emphasizing the values of passion and continuous learning, he encouraged viewers to seek opportunities to effectively hone their skills and competencies.    LJM during the #AskAnInternalAuditor: Inspire Series   LJM advised IAs to develop strong and flexible relationships with their auditees. He proposed, “When developing recommendations, adopt an approach where you can share the glory with the auditees, like conducting facilitated sessions. This way, the auditees will own the process and take accountability for the process.”    He explained that IAs should maximize remote auditing to ensure that management controls are still working during the pandemic. As professionals who examine all facets of an organization, IAs can also support a company’s business continuity management (BCM) in making sure that the appropriate protocols and action plans are carried out smoothly and in a well-coordinated manner.   LJM ended the session by advising aspiring IAs to “Be patient in gaining experience. Being an internal auditor takes time. Do not run away from the profession prematurely, even if you do not feel comfortable, because you might be running away from the profession that is really suited for you.” 

MTH speaks at FINEX webinar  SGV Strategy and Transaction Services Partner Marie Stephanie Tan-Hamed (MTH) and Security Bank Corporation Executive Vice President Eduardo Olbes conducted a webinar titled “The Road to Recovery: COVID-19” for the Financial Executives Institute of the Philippines (FINEX).      FINEX webinar invite  MTH shared tips on how CFOs can navigate the impact of COVID-19 on their organizations. She explained that CFOs should conduct scenario planning and develop an operating scenario model that will facilitate their organization’s recovery strategy, liquidity planning, creditor negotiation and other CFO-focused initiatives. Organizations must also stabilize their liquidity and operations, assess the strength of their balance sheet, and optimize communications to gain stakeholder confidence and support credit and contract renegotiation. She added that businesses can adapt and succeed by leveraging on their resources and the talent of their people.  

SGV conducts webinar for FICCI  SGV conducted a webinar on enterprise resilience for the Federation of Indian Chambers of Commerce & Industry (FICCI) on 21 April. The session aimed to provide supply chain, finance, customer experience and tax updates and insights on the effects of the COVID-19 pandemic.   COVID-19 Enterprise Resiliency Framework  SGV Consulting Principal Philip B. Casanova (PBC) provided an overview of the EY resilience framework which identifies nine domains businesses can address to build a structured and comprehensive approach to crisis management and business resilience. The framework focuses on the following: employee health and wellbeing, talent and workforce, supply chain and global trade, customer and brand, financial and investor, risk, government and public policy, technology and information security, and insurance and legal disputes. PBC emphasized that enterprises should consider these areas when coping with the short- and long-term effects of the pandemic.   Strategy and Transaction Services Partner Marie Stephanie C. Tan-Hamed (MTH) explained that organizations must conduct scenario planning because effective crisis management involves recalibrating decisions and activities, and planning for worsening developments. This also includes stabilizing liquidity and operations, assessing balance sheet strength and optimizing communications with stakeholders. MTH added that businesses must adapt and identify the resources that can assist them through the crisis.   SGV-FICCI webinar   Tax Partner Tesi Lou S. Guanzon (TSG) provided tax updates, particularly BIR issuances related to the enhanced community quarantine. She also explained the latest provisions of Revenue Regulations No. 9-2020 on donations. Consulting Partner Jan Ray G. Manlapaz (RGM) emphasized that organizations should view their supply chains as a complex and dynamic ecosystem rather than take the linear traditional view. He added that organizations need to identify the short-term and long-term impacts and implement action plans to reduce risk and financial impact due to supply chain disruption.   Consulting Partner Marnelli Eileen J. Fullon (MJF) explained that organizations need to anchor their plans and initiatives to the company’s Purpose. She added that organizations must communicate their plans clearly and with empathy. It is essential for businesses to listen to the voice of customers and employees, understand their needs and concerns, and adjust ways of working and processes accordingly. She encouraged participants to reimagine and enhance their digital channels in order to thrive during and after the pandemic.