7

TAXATION

			2018  R’000		2017  R’000
		South African taxation
		Current income tax
		– current year	244 282		202 882
		– prior year (over)/underprovision	(1 396)		933
		Deferred tax
		– current year	(6 597)		(27 348)
		– prior year overprovision	(167)		(54)
		– utilisation of tax loss	6 760		22 920
			242 882		199 333
		Foreign taxation
		Current income tax
		– current year	8 753		3 094
		– prior year underprovision	–		783
		Deferred tax
		– current year	(716)		1 308
		– prior year underprovision	165		338
			8 202		5 523
		Total tax charge	251 084		204 856

In addition to the above, deferred tax amounting to R1.8 million has been reversed to other comprehensive income (2017: R7.7 million charge). Refer note 20.

			2018  %		2017  %
		Reconciliation of the taxation rate:
		Effective rate	28.0		28.3
		Adjusted for:
		Exempt income (dividend income)	0.1		0.2
		Non-deductible expenses*	(2.8)		(2.7)
		Prior year under/(over) provision**	0.2		(0.3)
		Equity accounted earnings	2.5		2.5
		South African normal tax rate	28.0		28.0
			R'000		R'000
		The Group has tax losses of R3.8 million (2017: R26.7 million) for offsetting against future taxable profits of the company in which the loss arose. All unutilised assessed losses from continuing operations were recognised as a deferred tax asset in the current year and the prior year.
		South Africa (indefinite expiry)	3 871		26 734

		*	Includes amortisation/impairment of intangibles, share-based payment expenses, professional fees, impairment of investments amongst others
		**	Current tax and deferred tax