MagtiCom Ltd. makes its activities open to public and provides information on its contribution to Georgian economy.
In July 2002 MagtiCom’s contribution (without offsets) to the state economy made up GEL 3,538,809.51  while within the year 2002 (also without offsets) – GEL 18,629,154.74
 

	July 2002	Within 7 months of 2002
Withholding tax (10% income  taxation of foreign nationals)	55,704.23	456,977.28
VAT	1,381,215.00	7,009,215.00
Profit tax	–	2,179,173.00
Income tax	102,387.59	599,987.93
Property tax	–	558,035.98
Property transfer tax	391.50	16,383.38
Business tax	118,379.10	464,140.47
Highway Fund tax	245,461.00	678,048.50
Social insurance tax	144,970.00	853,539.80
Customs duty	1,339,178.21	5,011,941.41
Employment Fund tax	5,170.00	32,030.09
Public Health tax	20,700.00	128,338.72
Accrued Interest tax	–	5,097.19
Advertisement tax	35,413.00	57,391.00
Local fees	1,380.88	25,195.66
Georgian National  Communications Commission	88,459.00	553,659.33
TOTAL:	3,538,809.51 GEL	18,629,154.74 GEL

MagtiCom Ltd. employs 445 people.
MagtiCom Ltd. applies the international GAAP accounting system.

Respectfully sumbitted,

Levan Buchukuri
General Director
MagtiCom Ltd.