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Tiger Brands Limited integrated annual report
2015 161
COMPANY
GROUP
2015
2014
(R’million)
2015
2014
28 Deferred taxation liability
28.1 Movement of deferred taxation liability
5,5
3,1
Balance at the beginning of the year
775,7
863,6
Net reallocation between deferred taxation asset and
deferred taxation liability
27,5
–
Adjustment in respect of disposal of investment in
Adcock Ingram Holdings Limited
(4,2)
–
Fair value adjustments – investments
0,5
(5,6)
Adjustment taken directly to retained income
(5,5)
–
IAS 19 adjustments taken to other comprehensive
income
(4,8)
(3,5)
Adjustment in respect of currency losses taken directly to
non-distributable reserves
4,3
–
Adjustment in respect of increase in capital gains tax
rate taken directly to non-distributable reserve
–
2,3
Exchange rate translation reserve
1,4
16,3
4,3
2,4
Income statement movement – current year
temporary differences
(113,1)
(97,4)
9,8
5,5
Balance at the end of the year
681,8
775,7
(27,9)
(15,5)
Less:
Deferred tax asset per note 19.1
(532,0)
(803,5)
(18,1)
(10,0)
Net deferred tax liability/(asset)
149,8
(27,8)
Disclosed on the statement of financial position as
follows:
(18,1)
(10,0)
Deferred tax asset
(50,5)
(306,9)
–
–
Deferred tax liability
200,3
279,1
(18,1)
(10,0)
Net deferred tax liability/(asset)
149,8
(27,8)
28.2 Analysis of deferred taxation liability
Fair value adjustments – investments
5,1
8,7
Property, plant and equipment
430,0
496,3
Liability in respect of intangibles raised on acquisition
of businesses
152,8
168,4
Prepayments
0,8
5,0
Retirement fund surpluses
28,9
30,7
9,8
5,5
Revaluation of loans
0,1
1,2
Withholding taxes
37,6
21,0
Other temporary differences
26,5
44,4
9,8
5,5
681,8
775,7