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Income taxes | 12 Months Ended
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Dec. 31, 2017
Income Taxes [abstract] |
Income taxes | 17. Income taxes The components of income tax expense (recovery) are as follows:
|  | Year ended |  |  | Year ended |
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
Current income tax expense |  | $ | 161 |  |  | $ | - |
Deferred income tax expense (recovery) |  |  | (588 | ) |  |  | 210 |
Income tax expense (recovery) |  | $ | (427 | ) |  | $ | 210 |
The Company’s effective rate of income tax differs from the statutory rate of 26.5% as follows:
|  | Year ended |  |  | Year ended |
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
Tax recovery at statutory rates |  | $ | (1,032 | ) |  | $ | (1,330 | )
Mexican mining royalty |  |  | 199 |  |  |  | 210 |
Impact of foreign tax rates |  |  | 18 |  |  |  | 215 |
Non-deductible expenses |  |  | 535 |  |  |  | 1,477 |
Alternative minimum tax credits |  |  | (626 | ) |  |  | - |
Losses not recognized (recognized) |  |  | 479 |  |  |  | (362 | )
Income tax expense (recovery) |  | $ | (427 | ) |  | $ | 210 |
On December 22, 2017, the United States government enacted a tax reform with changes to reducing the corporate income tax rate from 35% to 21% and repealing the corporate alternative minimum tax effective January 1, 2018. The Company assessed the impact of the tax reform and recognized a deferred tax asset of $0.6 million as at December 31, 2017 with respect to recoverable alternative minimum tax credits. Impact of the tax reform may differ due to changes in interpretations and assumptions made along with guidance which may subsequently be issued. The Company’s net deferred tax liability relates to the Mexican mining royalty and arises principally from the following:
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
Property, plant and equipment |  | $ | 900 |  |  | $ | 972 |
Total deferred tax liabilities |  |  | 900 |  |  |  | 972 |
Alternative minimum tax credits |  |  | 626 |  |  |  | - |
Other |  |  | 28 |  |  |  | 138 |
Total deferred tax assets |  |  | 654 |  |  |  | 138 |
Net deferred tax liabilities |  | $ | 246 |  |  | $ | 834 |
Deferred income taxes have not been recognized in respect of the following deductible temporary differences, as management does not consider their utilization to be probable for the foreseeable future:
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
Property, plant and equipment |  | $ | 4,890 |  |  | $ | 3,272 |
Mexican tax losses (expiring in 2018 - 2027) |  |  | 42,843 |  |  |  | 52,702 |
Canadian tax losses (expiring in 2029 - 2037) |  |  | 35,173 |  |  |  | 30,268 |
U.S. tax losses (expiring in 2020 - 2037) |  |  | 32,070 |  |  |  | 29,764 |
Provisions and other |  |  | 24,956 |  |  |  | 24,718 |
Deferred Mexican mining royalty |  |  | 872 |  |  |  | 834 |
|  | $ | 140,804 |  |  | $ | 141,558 |

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