Interfront 2025 Annual Report

International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2025 154 INTERFRONT ANNUAL REPORT 2025 Notes to the Financial Statements Figures in Rand 2025 2024 17 Taxation Major components of the tax (income)/expense Current Local income tax – current period 3 271 174 1 738 460 Local income tax – recognised in current tax for prior periods (33 810) 6 801 3 237 364 1 745 261 Deferred Deferred tax movement current year (596 481) (18 203) 2 640 883 1 727 058 Reconciliation of the tax expense Reconciliation between accounting surplus and tax expense. Accounting surplus 9 547 183 5 805 200 Tax at the applicable tax rate of 27% (2024: 27%) 2 577 739 1 567 404 Tax effect of adjustments on taxable income Originating temporary differences 596 481 18 203 Non‑deductible expenses 96 954 152 853 Prior year adjustment (33 810) 6 801 3 237 364 1 745 261 18 Employee benefit obligations Defined contribution plans It is the policy of the entity to provide retirement benefits to all its employees. Entitlement to retirement benefits is governed by the rules of the Allan Gray Retirement Annuity Fund, which is a defined contribution retirement annuity fund. The entity has no legal or constructive obligation to pay for future benefits. The responsibility vests with the Allan Gray Retirement Annuity Fund. The entity is under no obligation to cover any unfunded benefits. The total economic entity contribution to such schemes 11 742 233 10 405 314 19 Operating deficit Operating surplus/(deficit) for the year is stated after accounting for the following: Gain or (Loss) on disposal of assets (150 547) (319 231) Amortisation on intangible assets 1 355 205 2 184 978 Depreciation on property, plant and equipment 2 778 214 2 364 025