OTHER INCOME AND EXPENSES

Other income of the Group stood at PLN 1.7 million in 2016 compared to PLN 2.0 million in 2015. Other income includes the annual correction of VAT, medical services reinvoiced for employees, the refund of overpaid tax at source, final clearing of costs of the “Książęca 4” Housing Cooperative, revenue from the distribution of assets of companies in bankruptcy (trade receivables of the Group) as well as revenue from the Polish Power Grid Company (PSE) in the PCR project. It stood at PLN 0.5 million in 2016 due to the recognition over time of the entire such income at PLN 7.0 million. Other expenses of the Group stood at PLN 4.6 million compared to PLN 2.2 million in 2015. The increase of other expenses was due to higher donations paid by GPW. In 2016, GPW paid donations of PLN 3.0 million to the Polish National Foundation, PLN 34.4 thousand to the Lesław A. Paga Foundation, PLN 28.5 thousand to the Polish-Chinese Cooperation Forum Association, PLN 27.5 thousand to the GPW Foundation, and PLN 10 thousand to the Youth Entrepreneurship Foundation and Caritas Diecezji Łowickiej each. The donations were lower and stood at PLN 0.7 million in 2015.