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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Components of income tax expense (benefit)

The components of income tax expense (benefit) are as follows:

	Year ended December 31
(in thousands of $)	2018			2017			2016
Current tax expense	836			1,478			1,035
Deferred tax expense	431			27			90
Amortization of tax benefit arising on intra-group transfers of non-current assets	—			—			(1,714	)
Total income tax expense (benefit)	1,267			1,505			(589	)

Schedule of effective income tax rate reconciliation

The income taxes for the years ended December 31, 2018, 2017 and 2016 differed from the amount computed by applying the Bermuda statutory income tax rate of 0% as follows:

	Year ended December 31
(in thousands of $)	2018			2017			2016
Income taxes at statutory rate	—			—			—
Effect of deferred tax benefit on intra-group transfers of non-current assets	—			—			(1,714	)
Effect of movement in deferred tax balances	431			27			90
Effect of adjustments in respect of current tax in prior periods	(369	)		(5	)		(334	)
Effect of taxable income in various countries	1,205			1,483			1,369
Total tax expense (benefit)	1,267			1,505			(589	)

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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