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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

INCOME TAXES

Schedule of components of provision for income taxes

		Years Ended December 31,
		2013			2014			2015
		$			$			$
Income before Income Taxes
Canada			41,700			248,666			79,631
Other			11,504			72,652			143,197
​	​	​	​	​	​	​	​	​	​	​
			53,204			321,318			222,828
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Current Tax
Canada			1,695			17,721			71,002
Other			9,989			29,018			67,351
​	​	​	​	​	​	​	​	​	​	​
			11,684			46,739			138,353
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Deferred Tax
Canada			11,493			40,895			(44,548	)
Other			(15,538	)		(10,203	)		(44,293	)
​	​	​	​	​	​	​	​	​	​	​
			(4,045	)		30,692			(88,841	)
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Total Income Tax (Benefit) Expense
Canada			13,188			58,616			26,454
Other			(5,549	)		18,815			23,058
​	​	​	​	​	​	​	​	​	​	​
			7,639			77,431			49,512
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Schedule of tax rates applicable on the Company's major operating subsidiaries in China

Company		Applicable enterprise income tax rate under the new EIT Law
CSI Solartronics (Changshu) Co., Ltd.		25%
CSI Solar Technologies Inc.		25% for 2013 and onwards; 12.5% for 2012 (half reduction of 25%)
CSI Cells Co., Ltd.		25% for 2013 and onwards; 15% for 2012 resulting from its High and New Technology Enterprise ("HNTE") status
Canadian Solar Manufacturing (Luoyang) Inc.		25% for 2012 and onwards;
Canadian Solar Manufacturing (Changshu) Inc.		25% for 2013 and onwards; 12.5% for 2012 (half reduction of 25%)
CSI Solar Power (China) Inc.		25%
Suzhou Sanysolar Materials Technology Co., Ltd.		15% for 2015, 2014 and 2013 resulting from its HNTE status; 25% for 2012

Schedule of movement and balance of the Company's liability for uncertain tax positions

		Years Ended December 31,
		2013			2014			2015
		$			$			$
Beginning balance			11,242			13,001			10,844
Addition for tax positions related to the current year			2,403			—			196
Reductions for tax positions from prior years/Statute of limitations expirations			—			(1,368	)		—
Foreign exchange effect			(644	)		(789	)		(1550	)
​	​	​	​	​	​	​	​	​	​	​
Ending balance			13,001			10,844			9,490
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Schedule of components of the deferred tax assets and liabilities

		At December 31, 2014			At December 31, 2015
		$			$
Deferred tax assets:
Accrued warranty costs			10,509			10,548
Bad debt allowance			9,318			8,358
Issuance costs			1,597			1,123
Inventory write-down			5,308			4,239
Future deductible expenses			—			13,878
Depreciation and impairment difference of property, plant and equipment, solar power system			26,149			34,248
Accrued liabilities related to countervailing and anti-dumping duty deposits			13,850			55,115
Deferred tax assets relating to sale of solar power systems			21,097			32,159
Net operating losses carry-forward			65,876			70,637
Others			6,947			7,409
​	​	​	​	​	​	​	​
Total deferred tax assets, gross			160,651			237,714
Valuation allowance			(52,985	)		(55,959	)
​	​	​	​	​	​	​	​
Total deferred tax assets, net of valuation allowance			107,666			181,755
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​
Deferred tax liabilities:
Foreign currency derivative assets			1,167			4,558
Depreciation difference of property, plant and equipment			5,264			8,327
Deferred profit of projects			70,360			40,793
Basis difference related to acquisitions			26,459			18,339
Others			1,806			3,047
​	​	​	​	​	​	​	​
Total deferred tax liabilities, gross			105,056			75,064
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​
Net deferred tax assets (liabilities)			2,610			106,691
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​
Analysis as:
Current deferred tax assets			40,810			30,013
Non-current deferred tax assets			66,856			97,134
Current deferred tax liabilities			94,711			1,426
Non-current deferred tax liabilities			10,345			19,030
​	​	​	​	​	​	​	​
Net deferred tax assets (liabilities)			2,610			106,691
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Schedule of movement of the valuation allowance

		Years Ended December 31,
		2013			2014			2015
		$			$			$
Beginning balance			54,140			57,190			52,985
Additions (Reversals)			4,671			(4,411	)		(944	)
Addition from acquisition of Recurrent			—			—			4,949
Foreign exchange effect			(1,621	)		206			(1,031	)
​	​	​	​	​	​	​	​	​	​	​
Ending balance			57,190			52,985			55,959
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Schedule of reconciliation between the provision for income tax computed by applying Canadian federal and provincial statutory tax rates to income before income taxes and the actual provision and benefit for income taxes

		Years Ended December 31,
		2013			2014			2015
Combined federal and provincial income tax rate			27	%		27	%		27	%
Effect of permanent difference			—			—			1	%
Effect of different tax rate of subsidiary operations in other jurisdiction			1	%		(2	)%		(3	)%
Unrecognized tax benefits			5	%		—			—
Valuation allowance			5	%		(1	)%		—
Change of tax rates in subsequent years			(23	)%		—			—
Effect of true-up			—			—			(1	)%
Foreign exchange effect			—			—			(2	)%
​	​	​	​	​	​	​	​	​	​	​
			15	%		24	%		22	%
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

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Tabular disclosure of tax rates and related years to which the major operating subsidiaries in China are subject to.

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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.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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