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INCOME TAX (Tables) | 12 Months Ended
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Dec. 31, 2015
INCOME TAX [Abstract] |
Schedule of Components of Income Taxes |
|  | US dollars |
|  | Year ended December 31, |
(in thousands) |  |  | 2015 |  |  |  | 2014 |  |  |  | 2013 |
Income taxes (tax benefit): |  |  |  |  |  |  |  |  |  |  |  |
Current taxes: |  |  |  |  |  |
In Israel |  |  | 6,279 |  |  |  | 7,564 |  |  |  | 6,060 |
Outside Israel |  |  | 6,089 |  |  |  | 7,630 |  |  |  | 8,194 |
|  |  | 12,368 |  |  |  | 15,194 |  |  |  | 14,254 |
Deferred taxes: |  |  |  |  |  |  |  |  |  |  |  |
In Israel |  |  | (121 | ) |  |  | (471 | ) |  |  | (503 | )
Outside Israel |  |  | 206 |  |  |  | (432 | ) |  |  | (1,309 | )
|  |  | 85 |  |  |  | (903 | ) |  |  | (1,812 | )
Taxes in respect of prior years: |  |  |  |  |  |  |  |  |  |  |  |
In Israel |  |  | 369 |  |  |  | - |  |  |  | - |
Outside Israel |  |  | - |  |  |  | (45 | ) |  |  | 5 |
|  |  | 369 |  |  |  | (45 | ) |  |  | 5 |
|  |  | 12,822 |  |  |  | 14,246 |  |  |  | 12,447 |
Schedule of Income Tax Reconciliation |
|  |  | US dollars |
|  |  | Year ended December 31, |
(in thousands) |  |  | 2015 |  |  |  | 2014 |  |  | 2013 |
Pretax income |  |  | 41,833 |  |  |  | 47,574 |  |  | 38,002 |
Statutory tax rate |  |  | 26.5 | % |  |  | 26.5 | % |  | 25 | %
Tax computed at the ordinary tax rate |  |  | 11,086 |  |  |  | 12,607 |  |  | 9,500 |
Nondeductible expenses (income) |  |  | 526 |  |  |  | 10 |  |  | 1,365 |
Losses in respect of which no deferred taxes were generated (including changes in valuation allowance) |  |  | 831 |  |  |  | (304 | ) |  | 137 |
Deductible financial expenses recorded to other comprehensive income |  |  | (439 | ) |  |  | (365 | ) |  | (312 | )
Tax adjustment in respect of different tax rates |  |  | 1,411 |  |  |  | 1,662 |  |  | 1,877 |
Taxes in respect of withholding at the source from royalties and dividends |  |  | 78 |  |  |  | 615 |  |  | 817 |
Adjustment in respect of tax rate deriving from “approved enterprises” |  |  | (405 | ) |  |  | (558 | ) |  | (467 | )
Others |  |  | (266 | ) |  |  | 579 |  |  | (470 | )
|  |  | 12,822 |  |  |  | 14,246 |  |  | 12,447 |
Summary of Deferred Taxes |
|  | Composition:
|  | US dollars |
|  | Year ended December 31, |
(in thousands) |  | 2015 |  | 2014 |
Deferred taxes included in other current assets: |  |  |  |  |
Provision for employee related obligations |  | 145 |  | 130 |
Provision for legal obligation and other |  | 2,607 |  | 3,519 |
|  | 2,752 |  | 3,649 |
|  | Composition:
|  |  | US dollars |
|  |  | Year ended December 31, |
(in thousands) |  |  | 2015 |  | 2014 |
Long-term deferred income taxes: |  |  |  |  |  |
Provision for employee related obligations |  |  | 718 |  | 678 |
Carry forward tax losses and foreign tax credit |  |  | 4,321 |  | 4,321 |
Temporary differences, net |  |  | 1,237 |  | 1,010 |
|  |  | 6,276 |  | 6,009 |
Valuation allowance |  |  | (3,997 | ) | (3,273 | )
|  |  | 2,279 |  | 2,736 |
|  | US dollars |
|  | Year ended December 31, |
(in thousands) |  |  | 2015 |  |  | 2014 |
Deferred income taxes included in long-term investments and other assets |  |  | 2,279 |  |  | 2,886 |
Deferred income taxes included in long-term liabilities |  |  | - |  |  | (150 | )
|  |  | 2,279 |  |  | 2,736 |
Schedule of Income Before Income Taxes |
|  | US dollars |
|  | Year ended December 31, |
(in thousands) |  | 2015 |  | 2014 |  | 2013 |
The Company and its Israeli subsidiaries |  | 23,987 |  | 26,021 |  | 17,296 |
Non-Israeli subsidiaries |  | 17,846 |  | 21,553 |  | 20,706 |
|  | 41,833 |  | 47,574 |  | 38,002 |
Changes in Unrecognized Tax Benefits |
|  | US dollars |
(in thousands) |  |  |
Balance at January 1, 2014 |  | 472 |
Translations differences related to the current year |  | (51 | )
Balance at December 31, 2014 |  | 421 |
Decrease related tax positions of prior years |  | (419 | )
Translations differences related to the current year |  | (2 | )
Balance at December 31, 2015 |  | - |

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