Notes to the financial statements | Note 24

Company       Group  
2017   2016     (R’million) 2017   2016  
        24 Trade and other payables        
          Trade payables 2 358,1   2 291,3  
          Contract liabilities – rebates and incentives* 687,6   713,6  
          Accruals 623,0   507,1  
          VAT payable 223,7   177,9  
28,7   21,7     Other creditors 383,2   464,1  
          Defined benefit pension fund liability (refer to note 29) 2,6   3,1  
28,7   21,7       4 278,2   4 157,1  
         
* During the year, R2,5 billion (2016: R2,3 billion) was raised and R2,6 billion (2016: R2,2 billion) was settled.
  Trade payables are non-interest-bearing and are normally settled within 30 to 45-day terms. Included within trade payables is derivative liabilities of R6,0 million (2016: R29,1 million) which are carried at fair value. Refer to note 32.7 for further details.
       


Notes to the financial statements | Note 24