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

In November 2002 MagtiCom’s contribution (without offsets) to the state economy made up GEL 4,406,993.26 while within the year 2002 (also without offsets) – GEL 34,003,677.83
 

	November 2002	Within 11 months of 2002
Withholding tax (10% income taxation of foreign nationals)	26,602.18	924,670.26
VAT	699,687.00	11,806,581.00
Profit tax	2,838,897.00	7,147,243.00
Income tax	107,315.95	1,024,916.61
Property tax	223,499.98	1,005,035.94
Property transfer tax	1,048.00	18,525.18
Business tax	–	715,360.13
Highway Fund tax	–	998,471.61
Social insurance tax	152,500.00	1,446,519.80
Customs duty	218,810.39	7,528,643.63
Employment Fund tax	5,700.00	54,240.09
Public Health tax	22,800.00	214,908.72
Accrued Interest tax	–	5,097.19
Advertisement tax	–	91,801.00
Local fees	519.35	27,799.37
Georgian National Communications Commission	109,613.41	993,864.30
TOTAL	4,406,993.26  GEL	34,003,677.83  GEL

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

Respectfully submitted,

Levan Buchukuri
General Director
MagtiCom Ltd.