Note NOTE 5

Deferred taxation

	2016 R’000	2015 R’000
At the beginning of the year	(4 058)	(6 737)
Credited/(charged) to the statement of comprehensive income:
Provisions	(1 736)	(5 876)
Tax losses	655	5 355
Capital allowances	(49)	(49)
Equity compensation benefit	(1 639)	3 237
Unrealised foreign exchange	7 018	2 930
Other	1 653	(2 918)
At the end of the year	1 844	(4 058)
Deferred taxation comprises:
Provisions	(8 553)	(6 817)
Tax losses	(2 111)	(2 766)
Capital allowances	38	87
Equity compensation benefit	4 847	6 486
Unrealised foreign exchange	9 766	2 748
Other	(2 143)	(3 796)
	1 844	(4 058)
The analysis of deferred tax assets and deferred tax liabilities is as follows:
Deferred tax assets
Deferred tax assets to be recovered after more than 12 months	—	3 398
Deferred tax assets to be recovered within 12 months	—	(7 456)
	—	(4 058)
Deferred tax liabilities
Deferred tax liabilities to be recovered after more than 12 months	10 205	—
Deferred tax liabilities to be recovered within 12 months	(8 361)	—
	1 844	—
Net deferred tax liability/(asset)	1 844	(4 058)

Where deferred tax assets have been recognised, a formal process of assessment of the future profitability of the Company has been performed based on detailed budgets and cash flow forecasts. As a result, management believes that the current tax losses will be utilised within one to five years. There are no unrecognised tax losses in the current year (2015: Rnil).