IAS 7 additional information, reconciliation of current tax paid to income statement charge

Sasol Limited – Annual report – 30 June 2019

Industry: oil and gas

Taxation (extract)

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  • 2019 relates to the reversal of interest pertaining to the Sasol Oil matter

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  • Increase in the current year relates mainly to tax losses incurred at our US operations where we anticipate sufficient profits to be generated in future to utilise the deferred tax asset against.
    ** Included in the previous years is the recognition of a deferred tax asset relating to the accumulated tax losses in Italy which were previously limited in line with the forecasted utilisation thereof. In 2017, profits and a successful business turnaround strategy have resulted in the recognition of a previously unrecognised deferred tax asset of EUR25,4 million (R377,2 million). Additionally, in 2017 R93 million of previously unrecognised tax assets were recognised after the approval of the Production Sharing Agreement (PSA) licence area’s Field Development Plan (FDP) in Mozambique.

Statement of cash flows (extract)
for the year ended 30 June

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