NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS – NOTE 7

    2016 
R’000 		   2015 
R’000 		  
7. TAXATION        
  South African taxation        
  Current income tax        
  – current year  152 522     79 722    
   – prior year under provision  14 359     5 945    
   Deferred tax             
   – current year  (100)    17 680    
   – prior year over provision  (3 480)    (3 068)   
   – utilisation of tax loss  4 679     43 522    
      167 980     143 801    
   Foreign taxation             
   Current income tax             
   – current year  1 137     –    
   Deferred tax             
   – current year  1 430     (1 928)   
      2 567     (1 928)   
   Total tax charge  170 547     141 873   
  In addition to the above, deferred tax amounting to R5.5 million has been charged to other comprehensive income (2015: R0.1 million released from). Refer note 20.

    2016 
% 		   2015 
% 		  
  Reconciliation of the taxation rate:            
   Effective rate  31.0     41.5    
   Adjusted for:             
   Exempt income (dividend income) 1.9     2.1    
   Non-realisation of deferred tax  0.1     (6.3)   
   Non-deductible expenses*  (6.2)    (13.9)   
   Prior year under provision**  (2.0)    (0.9)   
   Equity accounted earnings  3.0     5.4    
   Utilisation of tax loss not previously recognised  0.4     –    
   Other  (0.2)    0.1    
   South African normal tax rate  28.0     28.0   
  The Group has tax losses of R108.7 million (2015: R207.1 million) for offsetting against future taxable profits of the companies in which the tax losses arose. The Group has utilised R16.7 million (2015: R155.4 million) of the tax losses relating to South African operations. All unutilised assessed losses from continuing operations has been recognised as deferred tax asset in the current year.The unutilised assessed loss of R11 million has not been recognised as deferred tax asset in the prior year.

    2016
R'000		   2015
%		   Expiry  
  Ghana*** –    15 583   Between two and five years  
  India**** –    56 008   Between five and eight years  
  South Africa 108 698   135 477   Indefinite  
  South African normal tax rate 108 698   207 068      
 
* Includes amortisation/impairment of intangibles, share-based payment expenses, professional fees, impairment of investments amongst others
** Current tax and deferred tax
*** Discontinued operations (refer note 2)

NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS – NOTE 7