Sasol Limited – Annual report – 30 June 2022
Industry: oil and gas
13 Tax paid
1 2021 mainly due to ROMPCO tax payable that was transferred to liabilities held for sale.
2 2020 relates mainly to the relief provided to companies in the United States under the Coronavirus Aid Relief and Economic Security Act 9 (CARES Act) allowing taxpayers to carry back losses incurred during 2018 – 2020 for five years.
12 Taxation (extract)
1 The increase in the current year mainly relates to increased profits, as well as capital gains tax on the ROMPCO asset disposal.
2 2020 relates mainly to the relief provided to companies in the United States under the Coronavirus Aid, Relief, and Economic Security Act, (CARES Act) allowing taxpayers to carry back losses incurred during 2018 to 2020 for five years.
3 The decrease in the current year relates to the recognition of a deferred tax asset relating to derivative losses in Sasol Financing International Limited.
4 On 23 February 2022, a decrease in the South African corporate tax rate from 28% to 27% was announced, effective from 1 July 2022. The decrease in rate is considered to be substantively enacted.
5 2020 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.
STATEMENT OF CASH FLOWS (extract)
for the year ended 30 June
STATEMENT OF FINANCIAL POSITION
at 30 June