2017  R’000			2016  R’000
5.	Deferred taxation
	At the beginning of the year	1 844			(4 058)
	Credited/(charged) to the statement of comprehensive income:
	Provisions and accruals	(447)			(1 736)
	Tax losses	375			655
	Capital allowances	(38)			(49)
	Equity compensation benefit	(1 690)			(1 639)
	Unrealised foreign exchange	(5 586)			7 018
	Other	2 143			1 653
	At the end of the year	(3 399)			1 844
	Deferred taxation comprises:
	Provisions and accruals	(9 000)			(8 553)
	Tax losses	(1 736)			(2 111)
	Capital allowances	—			38
	Equity compensation benefit	3 157			4 847
	Unrealised foreign exchange	4 180			9 766
	Other	—			(2 143)
		(3 399)			1 844
	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	5 235			—
	Deferred tax assets to be recovered within 12 months	(8 634)			—
		(3 399)			—
	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 (asset)/liability	(3 399)			1 844

	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 (2016: Rnil).