MagtiCom Ltd. makes its activities open to public and provides information on its contribution to Georgian economy.

In September 2002 MagtiCom’s contribution (without offsets) to the state economy made up GEL 2,574,715.98  while within the year 2002 (also without offsets) – GEL 25,004,076.49
 

	September 2002	Within 9 months of 2002
Withholding tax (10% income taxation of foreign nationals)	140,503.80	827,200.44
VAT	1,803,300.00	9,413,524.20
Profit tax	–	4,308,346.00
Income tax	109,627.90	819,163.89
Property tax	–	781,535.96
Property transfer tax	710.00	17,477.18
Business tax	–	464,140.47
Highway Fund tax	–	678,048.50
Social insurance tax	255,530.00	1,263,019.80
Customs duty	125,641.88	5,349,317.99
Employment Fund tax	5,890.00	43,540.09
Public Health tax	20,810.00	171,508.72
Accrued Interest tax	–	5,097.19
Advertisement tax	–	57,391.00
Local fees	889.16	27,083.02
Georgian National Communications Commission	111,893.08	777,682.04
TOTAL	2,574,715.98  GEL	25,004,076.49  GEL

MagtiCom Ltd. employs 447 people.
MagtiCom Ltd. applies the international GAAP accounting system.

Respectfully sumbitted,

Levan Buchukuri
General Director
MagtiCom Ltd.