Notes to the consolidated financial statements – Note 4

    2015
R'000
    2014
R'000
 
4. Taxation          
  Current taxation 2 347 781     1 913 137  
    Current year 2 282 169     1 938 942  
    Prior years’ under (over) provision 65 612     (25 805)  
  Deferred taxation (96 597)     178 669  
    Current year (65 360)     191 026  
    Prior years’ over provision (31 191)     (615)  
    Change in rate of taxation (46)     (11 742)  
  Foreign withholding taxation 24 854     15 367  
  Total taxation per consolidated income statement 2 276 038     2 107 173  
  Comprising          
    South African taxation 1 271 817     1 285 064  
    Foreign taxation 1 004 221     822 109  
    2 276 038     2 107 173  
    2015
%
    2014
%
 
  The reconciliation of the effective tax rate with the South African company tax rate is:          
  Taxation for the year as a percentage of profit before taxation 27,0     30,3  
  Associates 0,7     0,4  
  Effective rate excluding associate income 27,7     30,7  
  Dividend and exempt income 1,3     2,5  
  Foreign taxation rate differential 0,8     0,3  
  Non-deductible expenses (1,6)     (6,0)  
  Changes in recognition of deferred tax assets 1,0     (0,7)  
  Capital gains rate differential (0,8)     0,5  
  Changes in prior years’ estimation (0,4)     0,5  
  Change in rate of taxation –     0,2  
  Rate of South African company taxation 28,0     28,0  
    R’000     R’000  
  Estimated tax losses available for offset against future taxable income 1 689 284     1 308 808  
  Utilised in the computation of deferred taxation (990 271)     (565 099)  
  Not accounted for in deferred taxation 699 013     743 709  
  Deferred taxation assets have not been recognised in respect of certain tax losses as the directors believe it is not probable that the relevant companies will generate taxable profit in the near future, against which the benefits can be utilised.          

Notes to the consolidated financial statements – Note 4