LAURA VICTORIA A.S. YUSON-LAYUG

lvylayug@lcvtaxlaw.com

 

Ms. Yuson-Layug co-founded LCV Tax Law in 2020 and is the Managing Partner of the firm.  Ms. Yuson-Layug was admitted to the Philippine Bar in 1998 and is a Certified Public Accountant since 1993.  Consistently ranked since 2009, Chambers and Partners describes Ms. Yuson-Layug as one who “regularly advises on cancellation and reduction of  tax assessments. She is known to advise on both advisory work and tax appeals.” Ms. Yuson-Layug is also ranked by Asialaw Profiles 2019 as a Distinguished Practitioner in Tax.

 

EDUCATION

• Ateneo de Manila University, J.D., 1997, Scholastic Second Honors, Silver Medal
• De La Salle University, B.S. Accountancy, 1992

 

PROFESSIONAL EXPERIENCE

• Former Partner, Baniqued Layug & Bello
• Former Associate, SyCip Salazar Hernandez & Gatmaitan

 

AFFILIATIONS

• Past President, Tax Management Association of the Philippines, 2008
• Member, Integrated Bar of the Philippines

 

NOTABLE REPRESENTATIONS

• Advised on the combination of business of two of the biggest cement companies in the Philippines involving the sale of a listed cement company and the divestment of some subsidiaries
• Successfully defended at the Court of Tax Appeals various deficiency tax assessments including one amounting to over a billion pesos and another involving almost a billion pesos arising as a result of a tax-free merger of two affiliates
• Advised on tax-efficient exit strategies of local partners of multinational corporations
• Provided representation and advice to several Fortune 100 companies and other large taxpayers leading to the cancellation or significant reduction of deficiency tax assessments and/or the grant of tax credits or refunds both at the administrative and judicial levels
• Practiced extensively before the Bureau of Internal Revenue, Court of Tax Appeals, and the Supreme Court on various tax cases and issues
• Prepared transfer pricing studies for a group of companies engaged in trading
• Represented petroleum companies in obtaining excise tax refunds involving various kinds of petroleum products
• Provided estate planning advice to various high net worth individuals and established trusts in connection with the foregoing
• Represented various estates before the Bureau of Internal Revenue and successfully obtained Certificates Authorizing Registration for real properties and shares of stock owned by the decedent, thereby allowing the transfer of properties to the heirs
• Represented an association of petroleum dealers who challenged before the Supreme Court the constitutionality of the then existing 70% cap on input VAT under Republic Act No. 9337, otherwise known as the Expanded VAT Law
• Worked closely with Congress and concerned government agencies in introducing amendments to the Omnibus Investments Code of 1987, thereby expanding the tax incentives of regional or area headquarters (RHQ) and regional operating headquarters (ROHQ)
• Obtained several precedent-setting tax rulings for clients
• Provided advice on tax issues of clients involving the entire range of taxes from income tax, VAT, withholding tax, excise tax, DST, local business tax, real property tax and involving cross-border transactions
• Assisted clients in obtaining approval for their computerized accounting system
• Assisted in obtaining PCNC accreditation for NGOs
• Assisted clients in availing of the tax amnesty on delinquencies and estate tax amnesty under Republic Act No. 11213
• Conducted tax compliance audits
• Provided tax advice to non-stock non-profit corporations and foundations, homeowners’ associations, retirement funds, and to both stock and non-stock educational institutions

 

SUZETTE A. CELICIOUS-SY

sacelicious-sy@lcvtaxlaw.com

 

Ms. Celicious-Sy co-founded LCV Tax Law in 2020.  Ms. Celicious-Sy was admitted to the Philippine Bar in 2001 and is a Certified Public Accountant since 1995.  She was the Past President of Tax Management Association of the Philippines.

 

EDUCATION

• Ateneo de Manila University, J.D., 2000
• De La Salle University, B.S. Accountancy, 1994

 

PROFESSIONAL EXPERIENCE

• Former Partner, Baniqued Layug & Bello
• Former Associate Director, SGV & Co., a member practice of Ernst & Young Global

 

AFFILIATIONS

• Director, Tax Management Association of the Philippines
• Member, European Chamber of Commerce of the Philippines
• Member, Integrated Bar of the Philippines

 

NOTABLE REPRESENTATIONS

• Disputed deficiency tax assessments issued against a major cement company amounting to more than P1.5 billion before the Court of Tax Appeals and the Supreme Court, successfully obtaining a cancellation of approximately P1.2 billion deficiency tax assessments to date
• Represented several PAGCOR licensees in disputing deficiency tax assessments and obtained favorable decisions from the Court of Tax Appeals cancelling the said assessments
• Acted as tax consultant on strategic tax planning and restructuring of a major casino operator in the Philippines
• Successfully litigated various refund claims and disputed deficiency tax assessments at the administrative and judicial levels, representing a major oil and gas company, leading cement company, logistics company, offline international air carriers, gaming operators/PAGCOR licensees/grantees, sugar mill, snack foods manufacturer, and medical services provider
• Represented a major cement company and a major PAGCOR-licensee in disputing a local business tax assessment before the local government unit and the Regional Trial Court
• Represented various sugar cooperatives that challenged the validity of the imposition of advance VAT on the withdrawal of refined sugar from sugar mills/refineries
• Rendered extensive advice on tax optimization and restructuring, corporate and tax consultancy services; analyzed and recommended tax efficient restructuring advice to various multinationals and conglomerates
• Conducted extensive tax compliance audits and corporate due diligence work
• Provided advice on, and implemented, estate planning schemes for individuals and family corporations, and established various local and offshore trusts
• Formed part of the legal team that represented an association of petroleum dealers who challenged before the Supreme Court the constitutionality of the then existing 70% cap on input VAT under Republic Act No. 9337, otherwise known as the Expanded VAT Law
• Assisted clients in availing of the tax amnesty on delinquencies and estate tax amnesty under Republic Act No. 11213
• Rendered corporate secretarial and corporate housekeeping services, such as, filing and updating of general information sheets, drafting of minutes of board and shareholders meetings, updating of stock and transfer books, among others.
• Assisted clients in handling warrants of garnishment, collection letters, and subpoena duces tecum issued by the BIR
• Represented clients before the Department of Justice/ Office of Prosecutor involving criminal complaints for Tax Code violations
• Obtained several crucial BIR rulings in connection with corporate mergers and acquisitions and applicability of PD 1896 on PAGCOR gaming licensees/grantees
• Provided extensive representation and advice to several PAGCOR licensees and major operators in the gaming industry
• Provided extensive representation and advice to enterprises operating in the ecozones under the Philippine Economic Zone Authority and Cagayan Economic Zone Authority
• Acted as tax consultant on the restructuring of a major Philippine franchise holder of a well-known fastfood chain in South Korea and assisted in the implementation of the recommended tax-free exchange
• Acted as tax consultant to a South Korean firm in its cross-border transaction with the Department of Science and Technology
• Acted as tax consultant to various nonresident foreign corporations in cross-border transactions with Philippine-resident corporation/s and assisted in the processing of, and/or obtaining rulings/ certifications for, the availment of a preferential rate or income tax exemption under existing tax treaties with the Philippines
• Advised a Japanese holding company on the restructuring of its local subsidiary involving the least tax cost and efficient implementation thereof
• Acted as tax consultant on the divestment of a substantial Philippine investment of a major player in casino entertainment and hospitality services, largely in Central and South America, Southeast Asia, India, and Eastern Europe

 

MADELINE Z. VILLAPANDO

mlzvillapando@lcvtaxlaw.com

 

Ms. Villapando co-founded LCV Tax Law in 2020.  Ms. Villapando was admitted to the Philippine Bar in 2002.  She is an active member of the Tax Management Association of the Philippines.

 

EDUCATION

• Ateneo de Manila University, J.D., 2001, Scholastic Second Honors, Silver Medal
• University of the Philippines, Diliman, B.A., Major in Political Science, 1994

 

PROFESSIONAL EXPERIENCE

• Former Partner, Baniqued Layug & Bello
• Project Legal Specialist, Department of Transportation and Communications Public-Private Partnership Projects
• Former Associate, Banking & Tax Practice Group, Quisumbing Torres (affiliated office of Baker & McKenzie)

 

AFFILIATIONS

• Member, Tax Management Association of the Philippines
• Member, European Chamber of Commerce of the Philippines
• Member, Integrated Bar of the Philippines

 

NOTABLE REPRESENTATIONS

• Defended deficiency income tax, VAT, withholding tax and documentary stamp tax assessments amounting to over 6.2 billion pesos, arising from the dissolution of a domestic corporation engaged in the beverage industry business
• Formed part of the team that defended deficiency assessments amounting to more than 400 million pesos involving a stock brokerage firm
• Conducted corporate and tax due diligence and corporate compliance audits
• Handled applications for dissolution of stock and non-stock corporations
• Handled withholding tax and input VAT refund claims before the BIR and CTA
• Handled local business tax refunds before the Regional Trial Court and CTA
• Advised clients engaged in the construction and specialty contracting businesses on the tax implications and structuring of joint venture agreements
• Handled incorporation of domestic corporations, non-stock non-profit corporations, and registration of Philippine branches of foreign corporations
• Drafted and advised clients on Shareholders’ Agreement, corporate structuring and restructuring
• Rendered corporate secretarial and corporate housekeeping services, such as, filing and updating of general information sheets, compliance with securities deposit requirements for foreign corporations, drafting of minutes of board and shareholders meetings, among others
• Advised on taxation issues of retirement benefits and retirement plans
• Provided tax advice to non-stock non-profit corporations and foundations
• Provided estate planning advice to various high net worth individuals
• Assisted clients in obtaining approval for their computerized accounting system
• Obtained tax clearances or Certificates Authorizing Registration for sales of real property and shares of stock
• Obtained tax rulings for clients
• Handled tax amnesty and compromise settlement applications with the BIR
• Formed part of the legal team that represented an association of petroleum dealers who challenged before the Supreme Court the constitutionality of the then existing 70% cap on input VAT under Republic Act No. 9337, otherwise known as the Expanded VAT Law
• Appointed as the National Legal Specialist of the Southwest Integrated Transport System (ITS) Terminal PPP Project, South ITS Terminal PPP Project, and North ITS Terminal PPP Project
• Appointed as the National Legal Specialist of the Manila Bay-Pasig/Marikina River-Laguna Lake (MAPALLA) Ferry System PPP Project
• Appointed as the National Legal Specialist of the Road Transport IT Infrastructure (Phase II) PPP Project
• Advised clients on employment-related issues, particularly on how to comply with due process requirements and rights and obligations of employers and employees under the Labor Code
• Handled collection for a sum of money cases