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UKRAINIAN PRESIDENT VETOES 17 PERCENT VAT, OTHER BILLS. President Leonid Kuchma has vetoed a bill passed by the Verkhovna Rada in July intended to reduce value-added tax (VAT) from the current 20 percent to 17 percent in January, Interfax reported on 11 August. The Ukrainian president also rejected bills on the licensing of entrepreneurial activities in the telecommunications sector and on state regulatory policies in business endeavors. JM

UKRAINIAN GOVERNMENT CREATES COMMISSION ON CIS. The Ukrainian cabinet has set up a commission to deal with issues related to the Commonwealth of Independent States (CIS) that will be headed by First Deputy Prime Minister Mykola Azarov, UNIAN reported on 11 August. The commission's general task will be to coordinate Ukraine's policies toward economic cooperation with the CIS, of which Ukraine is a member. JM