President Yushchenko has canceled the Resolution of the Cabinet of Ministers of Ukraine #895 on "Regulation of Some Issues of the Corporate Profit Tax Administration (CPT)" by the Order of the President of Ukraine # 717/2009 "On the Termination of the Resolution #895 of the Cabinet of Ministers of Ukraine by the August 26^th".

President Yushchenko has stopped certain provisions of the Resolutions of the Cabinet of Ministers of Ukraine #915 dated July 26^th, 2001 "On Implementation of the System of Collecting, Sorting, Transportation, Recycling and Utilization of Wastes as Secondary Raw Materials" and #508 dated May 20^th 2009, which introduced changes to the Resolution #915.

After an intensive lobbying effort by the Chamber Policy Team, interested Members, and partner organizations, we are pleased to inform you that thePresident Yushchenko has terminated item 2 of the CMU Resolution # 757-p"On Certain Issues of Taxes, Duties (Obligatory Payments) Administration" and Resolution # 838-p "On Settlement of Certain Issues regarding Administration of Value Added Tax"and sent an inquiry to the Constitutional Court on the issue.

On Tuesday, September 8^th the Chamber Board of Directors and Policy Team had a working Meeting with Mr. Anatoliy Shapovalov, First Deputy Head of the National Bank of Ukraine (NBU) as well as with Heads of the key departments of the NBU.

The Ministry of Economy of Ukraine recently stated its strong support of the Chamber's initiative and appreciation for the comprehensive ideas and proposals aimed at strengthening of the competitiveness of Ukrainian economy and facilitation of Ukrainian integration into the global economy, which was expressed in an official letter sent to the Chamber.

President Yushchenko has vetoed Draft Law # 3459-1 “On Protection of Citizens’ Rights While Ukrainian Economy is Overcoming Financial Crisis”, which envisaged a moratorium on the repossession of collateralized property in case the object of the pledge or mortgage is housing property where people live permanently. Such moratorium should have been valid during the crisis.

On June 25, 2009 the Verkhovna Rada of Ukraine adopted the two pieces of critical legislation supported by the American Chamber of Commerce (“Chamber”): Draft Law  (Draft Law #3447-d) and the Draft Law on Alienation of Private Land Plots for Public Use (Draft Law #3682) which the Chamber was involved in developing and advocating for passage.

On May 21, 2009 the Chamber Policy Team as a Member of the Investors Council of the Cabinet of Ministers and the Public Council of the State Committee on Regularity Policy & Entrepreneurship continuing its proactive advocacy activity with the Cabinet of Ministers participated at the Cabinet of Ministers special open meeting held at the premises of the Ukrainian House, which was dedicated to the improvement of investment climate and simplification of business activity necessary in the current crisis environment.

The Competitiveness Partnership Project proposes an innovative approach designed to bring key policy makers and the private sector together to implement a comprehensive program of regulatory and legislative reform to assist in this time of crisis and ensure that Ukraine is competitive in the future when global growth resumes.

On March 17th the Parliament Committee on Finance and Banking held its regular meeting. Among other issues members of the Committee focused on Draft Law #3583 “On Derivatives” developed by the Securities and Stock Market State Commission.