Deferred Taxation

12 Months Ended

Dec. 31, 2020


		UNITED STATES DOLLAR
		2020			2019
23.	DEFERRED TAXATION

	The detailed components of the net deferred taxation liability which results from the differences between the carrying amounts of assets and liabilities recognised for financial reporting and taxation purposes in different accounting periods are:

	Liabilities
	- Mining assets		893.2			908.3
	- Right-of-use assets		134.0			101.5
	- Investment in environmental trust funds		4.0			3.7
	- Inventories		16.4			13.3
	- Unremitted earnings		12.6			13.3
	- Other		9.0			13.0

	Liabilities		1,069.2			1,053.1

	Assets
	- Provisions		(131.9	)		(117.4	)
	- Tax losses 1		(61.8	)		(120.6	)
	- Unredeemed capital expenditure 1		(477.3	)		(505.7	)
	- Lease liabilities		(130.9	)		(103.0	)
	- Unrealised loss on financial instruments		(7.4	)		(38.3	)

	Assets		(809.3	)		(885.0	)

	Net deferred taxation liabilities		259.9			168.1

	Included in the statement of financial position as follows:

	Deferred taxation assets		(240.0	)		(265.5	)
	Deferred taxation liabilities		499.9			433.6

	Net deferred taxation liabilities		259.9			168.1

	Balance at beginning of the year		168.1			185.4
	Recognised in profit or loss		66.0			(15.0	)
	Recognised in OCI		1.2			8.4
	Translation adjustment		24.6			(10.7	)

	Balance at end of the year		259.9			168.1

Tax losses and unredeemed capital expenditure have been recognised, as disclosed in note 10, to the extent that the tax paying entities will have taxable profits in the forseeable future (per the

life-of-mine

models of the respective operations) in order to utilise the unused tax losses and unredeemed capital expenditure before they expire. This was particularly assessed with reference to the South Deep and Damang

life-of-mine

models.