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Income Taxes | 9 Months Ended
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Sep. 30, 2015
Income Tax Disclosure [Abstract] |
Income Tax Disclosure [Text Block] | Note 7. Income Taxes The Company files income tax returns for TG and ES in the Republic of Colombia. Colombia’s Tax Statute was reformed on December 23, 2014. A general corporate income Tax Rate applies at 25% and a CREE Tax based on taxable income applies at a rate of 9% to certain taxpayers including the Company. Prior to the reform, the CREE Tax would only apply up to tax years 2015. The reform makes the CREE tax rate of 9% permanent and an additional CREE Surtax will apply for the years 2015 through 2018 at varying rates. The following table summarizes income tax rates under the tax reform law
|  |  | 2015 |  |  | 2016 |  |  | 2017 |  |  | 2018 |  |  | 2019 |
Income Tax |  |  | 25 | % |  | 25 | % |  | 25 | % |  | 25 | % |  | 25 | %
CREE Tax |  |  | 9 | % |  | 9 | % |  | 9 | % |  | 9 | % |  | 9 | %
CREE Surtax |  |  | 5 | % |  | 6 | % |  | 8 | % |  | 9 | % |  | - |
Total Tax on Income |  |  | 39 | % |  | 40 | % |  | 42 | % |  | 43 | % |  | 34 | %
The components of income tax expense (benefit) are as follows:
|  | (in thousands) |
|  | Three months ended September 30, |  | Nine months ended September 30, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Current income tax |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign |  | $ | 8,728 |  | $ | 2,086 |  | $ | 17,985 |  | $ | 6,652 |
Deferred income tax |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign |  |  | (204) |  |  | (316) |  |  | (1,058) |  |  | 352 |
Total Provision for Income tax |  | $ | 8,524 |  | $ | 1,770 |  | $ | 16,927 |  | $ | 7,004 |
Effective tax rate |  |  | 129 | % |  | 12 | % |  | 289 | % |  | 171 | %
The Company's effective tax rates for the three and nine-month periods ended September 30, 2015 and 2014 reflect the non-cash, non-deductible losses and non-taxable gains from changes in the fair values of the Company’s warrant and earnout shares liabilities in the table below:
|  | Three months ended September 30, |  | Nine months ended September 30, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Change in fair value of warrant liability |  |  | 10,148 |  |  | -6,756 |  |  | 21,461 |  |  | 6,769 |
Change in fair value of earnout shares liability |  |  | 2,519 |  |  | -1,861 |  |  | 10,191 |  |  | 9,897 |
Total non-cash, nontaxable effects of changes in fair value of liabilities |  |  | 12,667 |  |  | -8,617 |  |  | 31,652 |  |  | 16,666 |
In addition, the Company’s statutory tax rate increased from 34% in 2014 to 39% in 2014 because of the tax reform mentioned above.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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