Emmanuel P Bonoan is the Vice Chairman and Chief Operating Officer at R.G. Manabat & Co., the Philippine member firm of KPMG International. He is a former undersecretary of the Philippine Department of Finance and exercised oversight functions over the Bureau of Internal Revenue and the customs authority. He was responsible for leading the teams that wrote and pushed the passage of key revenue reform legislation, among which is the VAT Reform Law of 2005 (RA 9337). He successfully argued the constitutionality of the law before the Philippine Supreme Court. His key accomplishments in government include introducing anti-corruption and anti-tax evasion programmes that, to this day, are recognised as effective deterrence mechanisms.
Presently, Emmanuel advises large multinational companies and trade organisations on tax strategies and represents clients before the revenue agencies, especially on high-level issues. He has also worked with industry associations to ensure that revenue regulations impact them in a constructive way. His clients, among others, include large financial institutions, one large independent power producer, three large petroleum companies, and several multinationals in the food and beverage industry. He also advises on trade and customs matters. Recently, he advised a beverage company on the impact of newly-imposed excise taxes on sugar-sweetened beverages, and their mitigation. This latter work required extensive discussions with Congress.
It is also noteworthy that KPMG in the Philippines has been recognized as a First Tier tax practice, First Tier transfer pricing practice and First Tier leading tax transactional firm by the International Tax Review. Since 2007, the firm has grown from a complement of 300 to more than 1,200 people offering audit, tax, and business advisory services in key locations nationwide. Emmanuel is a graduate of the Ateneo de Manila School of Law (1994, with honours) and has a master of laws in international economic law from the University of Warwick, United Kingdom (1999). He is a member of the Philippine Bar.