XML 36 R25.htm IDEA: XBRL DOCUMENT v3.25.2
Income Tax
 3 Months Ended
Sep. 30, 2024
Income Tax [Abstract]  
Income Tax
18.
 
Income tax
Income tax in interim periods
For the purposes of interim
 
financial reporting, the Company
 
determines the appropriate income
 
tax provision by first
 
applying
the effective
 
tax rate
 
expected to
 
be applicable
 
for the
 
full fiscal
 
year to
 
ordinary income.
 
This amount
 
is then
 
adjusted for
 
the tax
effect
 
of
 
significant
 
unusual
 
items,
 
for
 
instance,
 
changes
 
in
 
tax
 
law,
 
valuation
 
allowances
 
and
 
non-deductible
 
transaction-related
expenses that
 
are reported
 
separately,
 
and have an
 
impact on the
 
tax charge.
 
The cumulative effect
 
of any change
 
in the enacted
 
tax
rate, if and when applicable, on the opening balance of deferred tax assets
 
and liabilities is also included in the tax charge as a discrete
event in the interim period in which the enactment date occurs.
For the three months ended September 30, 2024, the Company’s
 
effective tax rate was impacted by the tax expense recorded
 
by
the
 
Company’s
 
profitable
 
South
 
African
 
operations,
 
non-deductible
 
expenses
 
(including
 
transaction-related
 
expenditures),
 
the
 
on-
going losses incurred
 
by certain of
 
the Company’s
 
South African businesses
 
and the associated
 
valuation allowances created
 
related
to the deferred tax assets recognized regarding net operating losses incurred
 
by these entities.
For the three months ended September 30, 2023, the Company’s
 
effective tax rate was impacted by the tax expense recorded
 
by
the
 
Company’s
 
profitable
 
South
 
African
 
operations,
 
non-deductible
 
expenses,
 
the
 
on-going
 
losses
 
incurred
 
by
 
certain
 
of
 
the
Company’s
 
South African
 
businesses and
 
the associated
 
valuation
 
allowances created
 
related to
 
the deferred
 
tax assets
 
recognized
regarding net operating losses incurred by these entities.
Uncertain tax positions
As of three months ended September 30, 2024 and
 
June 30, 2023, the Company had
no
 
unrecognized tax benefits. The Company
files income tax
 
returns mainly
 
in South Africa,
 
Botswana, Namibia and
 
in the U.S.
 
federal jurisdiction.
 
As of September
 
30, 2024,
the Company’s South African subsidiaries are no longer subject to income tax examination by the South African Revenue Service
 
for
periods before
 
June 30,
 
2020. The
 
Company is
 
subject to
 
income tax
 
in other
 
jurisdictions outside
 
South Africa,
 
none of
 
which are
individually material to its financial position, statement of cash flows, or results of operations.