This month’s gathering was held at the Makati office of ANZ, who graciously stepped up at short notice. Board member Chris Eugenio opened the meeting in my stead, after which Steve Harris and his team welcomed us with an intro to ANZ's Philippine presence and a greeting to the new faces.
For "What's New," our hosts shared their global video, CSR programs, and changes in ANZ's internal culture—changes well-served by having shared services centers in three cities including Manila. Our Emerson representative then shared that their #WeLoveSTEM CSR Project, discussed at the yearend party, was recently recognized with a 2018 Gold Anvil for Sustained PR Campaigns. What a great way to give back!
We then went on to the meat of the gathering: the latest on TRAIN 2. Guests Mimi Lopez-Malvar (P&G and PAMURI), Michael Montero (Convergys) and Rey Untal (IBPAP) updated members on recent advocacy meetings and specific points of the new proposal, including differences as it applies to ROHQ and PEZA establishments. GICC member Henkel shared a simulation estimating the tax impact on a medium-sized Makati ROHQ at about P70 million, plus prospective transfer pricing issues.
It was a somber discussion, for obvious reasons. At this point, the clearest action for us as an industry is to put hard numbers to TRAIN 2's effect on Philippine jobs and the economy. The Department of Finance constantly churns out data, and we must respond with corresponding numbers, ones that can correct mistaken impressions and help legislators take up our cause. Members have volunteered help from their analyst teams, and all data will be fully anonymized. IBPAP created a survey to streamline this, but received limited response. We have emailed you an IBPAP survey. Please respond quickly and share what you can. The next pivotal meeting is next month.
It wasn’t all grim, of course. We closed with updates from the HR subcommittee and a renewed call for participation in shared CPA license renewal efforts (please contact the EMT/Secretariat if interested). Finally, board member Noel Paraso bid a warm welcome to new members Pearson, BHP, Macquarie and Essilor.
There is much to do for all of us individually, so let us not wait till the May meeting to move. Please prioritize the survey and do not hesitate to contact us for assistance.
GICC Chair | IBPAP Board of Trustee