NOTE 25

		2014 Rm	2013 Rm	2012 Rm
25.	TAXATION
	South African normal taxation
	Current year	(488)	(404)	(178)
	Prior year	(34)	17	(11)
		(522)	(387)	(189)
	Foreign and withholding taxation
	Current year	(280)	(350)	(344)
	Prior year	13		(1)
		(267)	(350)	(345)
	Deferred taxation
	Current year	(119)	25	(196)
	Prior year	70	(16)	(25)
	Attributable to a change in the rate of income tax	1	(1)	2
		(48)	8	(219)
	Taxation attributable to the company and its subsidiaries	(837)	(729)	(753)
	Discontinued operations
	Motor retail Australia – Normal taxation	(20)	(37)	(37)
	Motor retail Australia – Deferred taxation	(4)	(1)	6
	Total group	(861)	(766)	(784)

		2014 %	2013 %	2012 %
	South Africa normal taxation rate	28.0	28.0	28.0
	Reduction in rate of taxation	(8.0)	(2.1)	(0.7)
	Exempt income	(6.1)	(1.9)	(0.7)
	Tax losses of prior periods		(0.3)
	Prior year taxation	(1.9)
	Increase in rate of taxation	13.1	7.0	8.0
	Disallowable charges	2.5	3.9	1.3
	Exceptional tax	0.7	0.9	0.3
	Foreign tax differential	6.9	0.7	0.7
	Rate change adjustment			(0.1)
	Current year tax losses not utilised	2.7	1.5	3.0
	Tax on unprovided timing differences	0.2		1.7
	S9D imputation and other	0.1
	Secondary taxation on companies			1.1

	Taxation as a percentage of profit before taxation	33.1	32.9	35.3
	Taxation as a percentage of profit before taxation secondary taxation on companies) as a percentage of profit before taxation (excluding exceptional items)	34.1	31.8	32.6

		2014 Rm	2013 Rm	2012 Rm
	Group tax losses at end of year:
	South African – taxation losses	(161)	(122)	(68)
	Foreign – taxation losses	(2 482)	(1 575)	(1 262)
		(2 643)	(1 697)	(1 330)
	Utilised to reduce deferred taxation liabilities or create deferred taxation assets	812	542	440
	Losses on which no deferred taxation assets raised due to uncertainty regarding utilisation	(1 832)	(1 155)	(890)
	The losses for which no deferred taxation asset has been raised are as follows:
	Barloworld Handling US Group	(515)	(438)	(370)
	Barloworld Spanish Group	(1 240)	(620)	(442)
	Agriculture Siberia	(67)	(37)
	Flynt			(47)
	Optimus Holdings	(6)	(12)	(14)
	Coach Charter		(42)
	Barloworld Logistics Africa	(4)
	Other		(6)	(17)
		(1 832)	(1 155)	(890)

In relation to the losses included in the Barloworld Handling US Group and Barloworld Spanish Group, these losses start expiring in 2026.

The taxation losses in relation to Agriculture Siberia expire in the 2023 financial year.

In relation to all the other losses listed above, there is no expiry date, or limit of carry forward, provided that the businesses continues trading.

Flynt was disposed of in November 2014 and as such the losses in relation to these businesses were not included in the total above for the 2013 financial year.