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Taxation (Tables) | 12 Months Ended
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Jun. 30, 2024
Taxation |
Schedule of taxation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | 2024 |  | 2023 |  | 2022 |
for the year ended 30 June | ​ | Note | ​ | Rm | ​ | Rm | ​ | Rm |
South African normal tax |  |  |  | ​ | 8 128 |  | 10 271 |  | 13 399 | ​
current year1 |  |  |  | ​ | 8 212 |  | 10 671 |  | 13 303 | ​
prior years2 |  |  |  | ​ | (84) |  | (400) |  | 96 | ​
Dividend withholding tax |  |  |  | ​ | — |  | — |  | (24) | ​
Foreign tax |  |  |  | ​ | 2 028 |  | 2 654 |  | 2 856 | ​
current year |  |  |  | ​ | 2 045 |  | 2 507 |  | 2 737 | ​
prior years |  |  |  | ​ | (17) |  | 147 |  | 119 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax |  | 10 |  | ​ | 10 156 |  | 12 925 |  | 16 231 | ​
Deferred tax – South Africa |  | 11 |  | ​ | 709 |  | (4 721) |  | (2 535) | ​
current year3 |  |  |  | ​ | 570 |  | (5 687) |  | (2 356) | ​
prior years4 |  |  |  | ​ | 139 |  | 966 |  | (108) | ​
reduction in corporate tax rate5 | ​ | ​ | ​ | ​ | — | ​ | — | ​ | (71) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax – foreign |  | 11 |  | ​ | (1 126) |  | (3 023) |  | 173 | ​
current year6 |  |  |  | ​ | (1 031) |  | (2 845) |  | (132) | ​
prior years |  |  |  | ​ | (102) |  | (172) |  | 306 | ​
tax rate change |  |  |  | ​ | 7 |  | (6) |  | (1) | ​
​ | ​ | ​ |  | ​ | 9 739 |  | 5 181 |  | 13 869 | ​
| 1 | The decrease in 2024 mainly relates to decrease in taxable profits in SSA.
| 2 | 2023 mainly relates to Section 12L allowances, as well as differences in provisions.
| 3 | The 2023 amount mainly relates to Synref impairment recognised. The decrease in 2022 relates to the recognition of a deferred tax asset relating to derivative losses in Sasol Financing International Limited.
| 4 | The 2023 amount is impacted by a translation difference of R 845 million arising from exchange rates applied by the South African Revenue Service (SARS) at the date of assessment.
| 5 | On 23 February 2022, a decrease in the South African corporate tax rate from 28% to 27% was announced, effective from 1 July 2022.
| 6 | The decrease in the current year relates mainly to the reversal of a deferred tax asset of R 15,3 billion previously recognised on tax losses, partially offset by the impact of current year impairments of R 13,6 billion and tax loss mainly in the US.
Schedule of reconciliation of effective tax rate to current tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 | ​ | 2023 | ​ | 2022
​ | ​ | % | ​ | % | ​ | %
Reconciliation of effective tax rate |  |  |  |  |  |
The table below shows the difference between the South African enacted tax rate compared to the effective tax rate in the income statement. Total income tax expense differs from the amount computed by applying the South African normal tax rate to profit before tax. The reasons for these differences are: |  |  |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​
South African normal tax rate |  | 27,0 |  | 27,0 |  | 28,0
(Decrease)/increase in rate of tax due to: |  |  |  |  |  |
disallowed expenditure1 |  | (2,3) |  | 6,1 |  | 1,1
disallowed share-based payment expenses |  | (0,1) |  | 0,2 |  | 0,1
different tax rates2 |  | (7,9) |  | 3,1 |  | 0,5
tax losses not recognised3 |  | (49,6) |  | 4,8 |  | 0,8
translation differences4 | ​ | — | ​ | 4,3 | ​ | —
capital gains and losses5 | ​ | — | ​ | — | ​ | 1,6
prior year adjustments |  | — |  | — |  | 0,7
other adjustments |  | — |  | 2,1 |  | 0,3
Increase/(decrease) in rate of tax due to: |  | ​ | ​ | ​ | ​ | ​
exempt income7 |  | 0,2 |  | (2,7) |  | (5,9)
share of profits of equity accounted investments 8 |  | 1,4 |  | (4,9) |  | (1,6)
utilisation of tax losses |  | 0,8 |  | (0,7) |  | (0,1)
investment incentive allowances |  | 0,2 |  | (1,3) |  | (0,1)
translation differences |  | 0,4 |  | — |  | (0,3)
capital gains and losses |  | — |  | (0,2) |  | —
change in South African corporate income tax rate | ​ | — | ​ | — | ​ | (0,1)
prior year adjustments9 | ​ | — | ​ | (2,1) | ​ | —
other adjustments6 | ​ | 1,7 | ​ | — | ​ | —
Effective tax rate |  | (28,2) |  | 35,7 |  | 25,0
| 1 | Includes non-deductible expenses incurred not deemed to be in the production of taxable income mainly relating to non-productive interest, project costs and goodwill impaired during the year.
| 2 | Mainly relates to the lower tax rate in the US (23%) and the higher tax rate for Sasol Petroleum Temane Limitada in Mozambique (32%) on higher taxable income.
| 3 | Relates mainly to the partial write-down of deferred tax asset previously recognised on tax losses in the US as it is no longer considered probable that sufficient future taxable income will be available in the foreseeable future to fully utilise these losses.
| 4 | 2023 impacted by a translation difference of R 845 million arising from exchange rates applied by SARS at the date of the 2022 assessment.
9 | Taxation continued
| 5 | 2022 capital gains tax payable in South Africa and Mozambique on the disposal of 30% of our equity interest in the ROMPCO pipeline.
| 6 | Included in the current year is the impact of the reversal of the 2018 impairment in Sasol Petroleum Temane Limited.
| 7 | 2023 mainly related to Italian tax credit for energy and gas consuming companies and FCTR reclassified on the liquidation of businesses. 2022 related to the FCTR reclassified on the disposal of the Canadian and Wax businesses and the profit on disposal of the ROMPCO pipeline.
| 8 | Change from 2023 to 2024 mainly relates to lower profits from ORYX GTL Limited due to lower plant utilisation rates.
| 9 | 2023 relates mainly to tax return adjustments on provisions.

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