Showcasing a stellar performance of their proficiency in tax, the College of Accountancy team JAKK and the BEPStalk, with members Jezze Antoinette Padon, Aenid Valencia, Krisha Dingcog, and Kaycee Segundo, made the University of the Cordilleras dazzle, placing 6th among the top 10 schools qualified to compete in the national rounds of the 2023 Deloitte Tax Challenge (DTC) last October 3.
To qualify for the national rounds, team JAKK and the BEPStalk triumphed in the two phases of the elimination rounds with high scores under the guidance of their coach, Zandro Payocong, CPA, CFrA, MBA, alongside Atty. Jacque Tamayao, CPA, REB, REA, who assisted as a mentor, had a close match with the other schools within the top 10.
The team exhibited their video production skills as they were selected in the first phase, which encompassed a five-minute video presentation about Base Erosion and Profit-Shifting (BEPS) Pillar 2, particularly the 15% Global Minimum Tax and its impact on the Philippines, which was submitted on October 1, 2023.
After excelling in the first phase, the team was challenged with an 800-word essay on BEPS, transfer pricing, and their impact on the team’s recommendation for multinational corporations in the Philippines for the second phase of the elimination rounds, which was submitted on October 20, 2023.
In preparation for the national rounds, the team, along with the other schools, will be participating in a series of workshops about transfer pricing and BEPS.
“So far wala pa kami actually preparations since kaka-mail lang rin na qualified kami for the nationals. ‘Yung icoconduct na workshop pa lang ‘yung nakikita naming paraan para iprepare sarili namin for the competition,” the team said when asked about the current preparations for the upcoming event.
(So far, we don’t actually have preparations since it has just been mailed to us that we are qualified for the nationals. The workshop to be conducted is the only thing we have so far to prepare ourselves for the competition.)
The DTC is a competition hosted by Deloitte that puts students majoring in accounting, economics, and finance to the test on their tax knowledge, offering a PHP 120,000 cash prize for the winner and the honor of representing the Philippines in Indonesia next year at the international level.
Deloitte is a global business offering audit and assurance, consulting, financial advisory, risk advisory, tax, and related services.
“Our greatest takeaway would be our current knowledge about BEPS being solidified and the updates on the international taxation framework that really affect the Philippines, particularly for multinational corporations based here. And of course, patience, time management, and how our teamwork was enhanced through our DTC journey,” the team said.
“Aside from being pushed by our department’s dean and our coach, Sir Zandro, we also decided to join for the experience, knowledge, and building relations with Deloitte. It’s also beneficial for us as future tax consultants, etc., because we can utilize everything we learned from the competition to give advice and formulate tax strategies in the future.”
The national rounds will be held in Deloitte, Taguig, Metro Manila on November 24, 2023.
Writer: Glithe Asbucan
Photographer: Annika Joy Bermudez
