CHAPTER 18:
Compliance

• 18.3EVENTS AFTER THE REPORTING PERIOD

Details of the final dividend are provided in note 5.5.

Subsequent to 31 December 2021, the following notable event occurred:

South African corporate income tax rate change

On 23 February 2022, the Minister of Finance reiterated their intention to reduce the South African corporate income tax rate from 28% to 27%, which was initially announced in the 2021 Budget Speech. The rate change will be effective for years of assessment beginning on or after 1 April 2022. Management views this rate change to be substantively enacted based on current guidance in the market.

It is estimated that the impact of this rate change will amount to approximately R282 million for group and R2 million for company, representing a 1% decrease of the deferred tax balance at 31 December 2021.

The directors are not aware of any other significant matter or circumstance arising after the reporting period up to the date of this report, not otherwise dealt with in this report.