European Business Association

was held at the Palace of Art, within the VI International Fair of Investments and Real Estate. The State Tax Administration, represented by Mr. Vitaliy Khylyuk, the Head of STA in Lviv Oblast, and Western Ukrainian Branch of the European Business Association, represented by Lars Vestbjerg, Board Chairman of the Branch signed the Memorandum aiming at:

- transparent cooperation between STA in Lviv Oblast and with existinng and future foreign investors;

- forming favorable conditions for foreign investments;

- making civilised regulatory policy related to the activity of subjects of commercial activity;

- preventing of misunderstandings in the process of clarifying statutory and legal acts on taxation;

- solving problems restraining investment processes;

- preventing of disputes between members of the Association and State Tax Administration in Lviv oblast;

- forming of a welcoming image of Lviv among potential investors.

The parties have agreed to realise the following actions:

to form the Working Group for efficient consideration of foreign investors` complaints and proposals;
to direct potential investors from one Party to another and to organise negotiations on their request for familiarisation with the investment climate in Lviv oblast;
to cooperate in organisations of seminars, consultations, round table meetings and Tax and Accounting Committee meetings;
simplifying permitting and registration procedures (in compliance with the effective laws) for implementation of investment projects in Lviv oblast;
forming a “white list” of the companies which are honest tax payers, that shall consist the Branch member-companies, to which simplified tax control procedures, VAT reimbursement, registration the bills of exchanges for tolling scheme etc. will be applied;
spreading relevant information to prevent corruption and promote a positive image of tax office workers and STA in Lviv oblast as a whole;
giving timely responses to official information requests from the EBA.

05/10/2006 Signing of the Memorandum on Cooperation between State Tax Administration in Lviv Oblast and EBA Western Ukrainian Branch