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

In October 2002 MagtiCom’s contribution (without offsets) to the state economy made up GEL 4,691,608.08 while within the year 2002 (also without offsets) – GEL 29,596,684.57
 

	October 2002	Within 10 months of 2002
Withholding tax (10% income taxation of foreign nationals)	70,867.64	898,068.08
VAT	1,693,369.80	11,106,894.00
Profit tax	–	4,308,346.00
Income tax	98,436.77	917,600.66
Property tax	–	781,535.96
Property transfer tax	–	17,477.18
Business tax	251,219.66	715,360.13
Highway Fund tax	320,423.11	998,471.61
Social insurance tax	130,000.00	1,294,019.80
Customs duty	1,960,515.25	7,309,833.24
Employment Fund tax	5,000.00	48,540.09
Public Health tax	20,600.00	192,108.72
Accrued Interest tax	–	5,097.19
Advertisement tax	34,410.00	91,801.00
Local fees	197.00	27,280.02
Georgian National Communications Commission	106,568.85	884,250.89
TOTAL	4,691,608.08  GEL	29,596,684.57  GEL

MagtiCom Ltd. employs 457 people.
MagtiCom Ltd. applies the international GAAP accounting system.

Respectfully sumbitted,
Levan Buchukuri
General Director
MagtiCom Ltd.