Sasol Limited – Annual report – 30 June 2023
Industry: oil and gas
10 Taxation (extract)
1 The increase in 2022 year mainly relates to increased profits, as well as capital gains tax on the ROMPCO asset disposal.
2 2023 mainly relates to Section 12L allowances, as well as differences in provisions.
3 The current year number is impacted by impairments. The decrease in 2022 relates to the recognition of a deferred tax asset relating to derivative losses in Sasol Financing International Limited.
4 Current year impacted by a translation difference of R845 million arising from exchange rates applied by the South African Revenue Service (SARS) at the date of assessment.
5 On 23 February 2022, a decrease in the South African corporate tax rate from 28% to 27% was announced, effective from 1 July 2022.
6 The increase in the current year relates mainly to tax losses incurred at our US Operations and Sasol Italy where we anticipate sufficient profits to be generated in future to utilise the deferred tax asset against.
STATEMENT OF CASH FLOWS (extract)
for the year ended 30 June
STATEMENT OF FINANCIAL POSITION
at 30 June
Accounts examples 