In this issue: 1. On transactions using special payment instruments 2. On amendments to certain regulatory acts of the NBU 3. On approval of amendments to the regulations governing the operations of Ukrainian banks 4. On the NBU granting stabilization loans to Ukrainian banks 5. Salans advises Noble Resources Ukraine LLC on a $24 million loan from EBRD

1. Tax Incentives for the Hotel Industry On 8 July 2010, the Ukrainian Parliament passed the law “On Amending Certain Legislative Acts of Ukraine with regard to the Development and Preparation of Hotel Infrastructure for the Final Part of the European Football Championship 2012 in Ukraine”. According to the law, from 1 January 2011 to 31 December 2020, enterprises’ profits from providing hotel services (sales of hotel rooms and additional hotel services) in hotels of 3-, 4- and 5-star categories are exempt from CPT if such hotels have been put into operation by 1 September 2012.

Welcome to the fifth edition of this publication which has been compiled by the Salans Global Corporate Group comprising experienced lawyers from each of our 22 offices. Previous editions have dealt with: the establishment of companies and partnerships in key jurisdictions; the use of warranties in international acquisitions; the issue and transfer of securities in key jurisdictions;and governmental approvals and third party consents in corporate transactions.