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Income Taxes (Tables) | 6 Months Ended
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Jun. 30, 2021
Income Taxes |
Schedule of Effective Income Tax Rate Reconciliation | The reconciliations of the U.S. statutory rate with the Company’s effective tax rate for the six-month periods ended June 30, 2021 and 2020 are summarized in the table below: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended June 30, | ​
​ |  | 2021 |  | 2020 | ​
Federal income tax expense at statutory rate |  | 21.0 | % | 21.0 | %
Effect of: |  | ​ | ​ | ​ | ​
Change in valuation allowance | ​ | 101.1 | ​ | (78.5) | ​
Tax effects of foreign operations |  | 35.4 | ​ | 242.7 | ​
Change in tax rates | ​ | 20.6 | ​ | - | ​
Foreign operations permanent difference - foreign exchange gains and losses | ​ | 9.1 | ​ | 144.3 | ​
Return to provision true up | ​ | 3.2 | ​ | (50.6) | ​
State income tax net of federal benefit | ​ | 1.5 | ​ | 16.2 | ​
Withholding tax | ​ | - | ​ | 9.3 | ​
Foreign rate differential |  | (19.6) | ​ | (34.7) | ​
Effect of stock-based compensation | ​ | (62.1) | ​ | - | ​
Increase (decrease) in unrecognized tax benefits (ASC 740) | ​ | (64.4) | ​ | 67.1 | ​
Other |  | 5.4 | ​ | (23.1) | ​
Effective tax rate |  | 51.2 | % | 313.7 | %
​
Schedule Of unrecognized Tax Benefits | The following table presents a roll-forward of the Company’s unrecognized tax benefits and associated interest for the six months ended June 30, 2021 (in thousands): ​
​ | ​ | ​ | ​
​ |  | Unrecognized
​ |  | tax benefits
Balance - January 1, 2021 | ​ | $ | 3,231
Tax settlement matters – prior periods | ​ |  | (1,476)
Change in tax position | ​ | ​ | (174)
Interest accrual | ​ |  | 57
Foreign currency remeasurement | ​ |  | (27)
Balance - June 30, 2021 | ​ | $ | 1,611
​

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