Notes to the Company annual financial statements

for the period ended 3 March 2013
    Pick n Pay Stores
LiMiteD
Pick n Pay Holdings
LiMiteD
    2013   2012   2013   2012  
    Rm   Rm   Rm   Rm  
3.   Tax   %   %   %   %  
  Statutory tax rate reconciliation   28.0   28.0   28.0   28.0  
  Exempt income – dividends received   (31.2)  (28.4)  (28.2)  (28.1) 
  Other non-deductible expenditure   3.2   0.4   0.2   0.1  
  Effective tax rate   —   —   —   —