Taxtransparency

Global tax disclosure

AfroCentric values ethical financial practices, and, as an integral part of this ethos, we are committed to maintaining full tax transparency. This is fundamental to fostering trust with our stakeholders, promoting corporate responsibility, and positively impacting the communities we serve. By ensuring a transparent and open approach to our tax obligations, AfroCentric adheres to international standards and leads by example in promoting financial integrity and accountability.

AfroCentric’s tax exposure and gap disclosure

Exposure to specific tax jurisdictions

AfroCentric’s operating subsidiaries are located in South Africa, Namibia and Mauritius. As part of our commitment to transparency, we aim to openly communicate our operations in areas recognised for their corporate tax rate, tax transparency, and tax haven status.

None of our tax jurisdictions have a high scope for corporate tax abuse due to their tax transparency or tax haven status.

Estimated tax gap

The tax gap represents the difference between our estimated effective tax rate and the estimated statutory tax rate:

ESTIMATED EFFECTIVE TAX RATE:

64.16%*

*  30.32% excluding impairment of goodwill.

ESTIMATED STATUTORY TAX RATE:

27.00%

RESULTING TAX GAP:

37.16%*

*3.32% excluding impairment of goodwill.

This tax gap can be attributed to various factors, including the utilisation of permissible incentives, tax credits, disallowed expenditure, and differences arising from the geographic mix of our profits.

At AfroCentric, consistent transparency builds trust. We remain steadfast in our commitment to provide accurate, understandable, and detailed financial information to our stakeholders.