On June 16, 2010 the Ukrainian Law “On Amendment of Certain Ukrainian Legislative Acts” of May 20, 2010 No. 2275-VI (hereinafter referred to as the “Law No. 2275”) entered into force. The Law No. 2275 among other things expands the tax authorities’ scope of powers in the process of inspections of companies as well as amends the procedure of the said inspections.

On May 15, 2010 the Ukrainian Law “On Amendment of Certain Ukrainian Laws with View to Encourage Foreign Investment and Crediting” of April 27, 2010 No. 2155-VI (hereinafter referred to as the “Ukrainian Law No. 2155-VI”) entered into force.

On March 26, 2010 Enactment of the Cabinet of Ministers of Ukraine “On Amendment and Invalidation of Certain Acts of the Cabinet of Ministers of Ukraine” of March 24, 2010 No. 278 entered into force.

On March 30, 2010 the Ukrainian Law “On Amendment of Certain Ukrainian Laws with view to Prevent and Resist Corruption” of March 10, 2010 No. 1962-VI entered into force.

On March 15, 2010 Resolution of the Management Board of the National bank of Ukraine No. 762 of December 23, 2009 “On Regulating the Foreign Investment and its Registration” entered into force (hereinafter referred to as “Resolution No. 762”).

On December 23, 2009 the State tax administration of Ukraine issued letter No. 28593/7/17-0717 “On Taxation of Foreigners’ and Non-residents’ Income”, which inter alia clarifies on how a foreign individual can get a status of a local tax resident in Ukraine. For this purpose the foreigner’s employer should receive a Notification from the competent tax office that the foreign individual may independently decide his/her tax status in Ukraine.

On January 19, 2010 Enactment of the Cabinet of Ministers of Ukraine of January 13, 2010 No. 21 “On Amendment of Enactment of the Cabinet of Ministers of Ukraine of November 29, 2000 No. 1755” (hereinafter – “Enactment No. 21”) entered into force.

On December 30, 2009 the Ukrainian Law “On Amendment of Certain Ukrainian Laws with view to Facilitate the Business Conditions in Ukraine” of December 15, 2009 No. 1759-VI (hereinafter referred to as “the Law”) entered into force. The Law amended a series of normative acts introducing many changes into practice of individuals’ and companies’ activities in Ukraine.

On November 24, 2009 the Ukrainian Law “On Amendment of Certain Ukrainian Laws with view to Eliminate the Negative Impacts of the Financial Crisis” of June 23, 2009 No. 1533-VI entered into force. The above Law amended a series of laws introducing many changes into practice and regulations of domestic companies as well as physical entities.