9. Taxation
 
   Group Company
   31 March 
2021 
Rm 		 31 March 
2020 
Rm 		 31 March 
2021 
Rm 		 31 March 
2020 
Rm 
   (1 067) (366) (164) 706 
South African normal company taxation  (870) (1 230) 54  (115)
Current taxation  (945) (1 118) –  – 
Overprovision/(underprovision) for prior year  75  (112) 54  (115)
Deferred taxation (refer to note 17) (197) 879  (218) 821 
Capital allowances  (156) (1 971) (154) (2 017)
Provisions and other allowances  (196) 2 176  (264) 2 165 
Tax losses  234  337  234  337 
Acquisition of BCX  9  9  –  – 
(Underprovision)/overprovision for prior year  (88) 328  (34) 336 
Securities transfer tax  –  (14) –  – 
Common control transaction  –  (1) –  – 

 

Reconciliation of taxation rate %  %  %  % 
South African normal rate of taxation  28.0  28.0  28.0  28.0 
Increased/(decreased) by the following adjustments:  2.5  12.4  (19.3) 253.4 
Non-taxable income  (0.2) (4.0) (22.9) 295.4 
Dividends received  –  –  (22.3) 214.2 
Profit on sale of assets  (0.1) –  –  – 
Cell captive fair value adjustments  (0.1) (4.0) (0.3) 14.3 
Other exempt income  –  –  (0.3) 66.9 
Non-deductible expenditure  2.3  21.3  4.6  (72.0)
Capital expenditure  0.6  8.2  0.7  (24.5)
IFRS 2 share-based payment adjustments  0.5  10.7  0.4  (27.0)
Interest and penalties  0.5  1.5  –  – 
Other disallowed expenditure*  0.7  0.9  3.5  (20.5)
Prior year adjustments  0.4  (6.5) (1.0) 30.0 
Prior year (overprovision)/underprovision tax expense**  0.4  (23.0) (1.0) 30.0 
Tax losses reversed**  –  16.5  –  – 
Other taxes  –  1.6  –  – 
Differences in tax rates, foreign tax and withholding tax  –  0.2  –  – 
Securities transfer tax  –  1.4  –  – 
Effective rate***  30.5  40.4  8.7  281.4 
* Other comprises mainly consulting fees, legal fees and donations which are not tax deductible.
** FY2020: Tax losses reversed, as well as prior year adjustments, related to a dispute with SARS in respect of the FY2015 – FY2019 years of assessment with regard to the tax treatment of two items. These disputes were resolved and the relevant liability settled in the current year (refer to note 34).
*** The effective tax rate for the Group for FY2020 is different than what was disclosed in the FY2020 financial statements (37.6%), due to the restatement which impacted the profit or loss for the year ended 31 March 2020 (refer to note 2.3.1.1).