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

In December 2002 MagtiCom’s contribution (without offsets) to the state economy made up GEL 2,403,108.72 while within the year 2002 (also without offsets) – GEL 36,406,786.55
 

	December 2002	Within 12 months of 2002
Withholding tax (10% income taxation of foreign nationals)	32,340.05	957,010.31
VAT	1,741,200.00	13,547,781.00
Profit tax	–	7,147,243.00
Income tax	99,520.29	1,124,436.90
Property tax	–	1,005,035.94
Property transfer tax	1,200.00	19,725.18
Business tax	–	715,360.13
Highway Fund tax	–	998,471.61
Social insurance tax	139,600.00	1,586,119.80
Customs duty	245,121.51	7,773,765.14
Employment Fund tax	4,700.00	58,940.09
Public Health tax	19,000.00	233,908.72
Accrued Interest tax	11,391.79	16,488.98
Advertisement tax	–	91,801.00
Local fees	189.20	27,988.57
Georgian National Communications Commission	108,845.88	1,102,710.18
TOTAL	2,403,108.72  GEL	36,406,786.55  GEL

MagtiCom Ltd. employs 415  people.
MagtiCom Ltd. applies the international GAAP accounting system.

Respectfully submitted,

Levan Buchukuri
General Director
MagtiCom Ltd