XML 50 R34.htm IDEA: XBRL DOCUMENT v3.19.1
Tax (Tables)
 12 Months Ended
Dec. 31, 2018
Tax (Tables) [Abstract]  
Specification of income tax
Specification of income tax:
                   
(Dollars in thousands)
  
2018
    
2017
    
2016
  
Income tax payable
  
$
74
    
$
132
    
$
100
  
Tax expenses related to previous year
    
1
      
8
      
(10
)
Change in deferred tax
    
8
      
(8
)
    
4
  
Total income tax expense
  
$
83
    
$
131
    
$
95
  
                         
Specification of temporary differences and deferred tax
Specification of temporary differences and deferred tax:
 
  
December 31,
    
December 31,
    
December 31,
  
(Dollars in thousands)
  
2018
    
2017
    
2016
  
Property, plant and equipment
  
$
(164
)
  
$
(164
)
  
$
(89
)
Pensions
    
(539
)
    
(425
)
    
(225
)
Total basis for deferred tax
    
(703
)
    
(590
)
    
(314
)
Deferred tax liability 1)   2)
  
$
(155
)
  
$
(136
)
  
$
(75
)
 
1) Due to materiality, not recognized on a separate line in the statements of financial position.
2) The general income tax rate is reduced from 23% to 22%, effective from fiscal year 2019, reduced from 24% to 23%, effective from fiscal year 2018 and reduced from 25% to 24%, effective from fiscal year 2017. 
Reconciliation of effective tax rate
Reconciliation of effective tax rate:
 
                  
(Dollars in thousands)
  
2018
    
2017
    
2016
  
Profit/(loss) before income tax
  
$
(46,845
)
  
$
6,733
    
$
9,354
  
Expected income tax assessed at the tax rate for the Parent company (0%)
    
-
      
-
      
-
  
Adjusted for tax effect of the following items:
                        
   Income in subsidiary, subject to income tax
    
83
      
131
      
95
  
Total income tax expense
  
$
83
    
$
131
    
$
95