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TAXES ON INCOME (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Tax Provisions to the Domestic and Effective Tax Rate

A reconciliation of the theoretical tax expense assuming all income is taxed at the statutory rate to taxes on income (tax benefit) as reported in the statements of income:

		Year ended December 31,
		2020				2019				2018
Income (loss) before taxes on income (tax benefit) from continued operationas reported in the statements of income		$	(4,816	)		$	2,182			$	(5,252	)
Statutory tax rate in Israel			23	%			23	%			23	%
Theoretical taxes on income (tax benefit)		$	(1,108	)		$	501			$	(1,207	)
Increase (decrease) in taxes on income resulting from:
Tax adjustment for foreign subsidiaries subject to a different tax rate			50				(26	)			(9	)
Reduced tax rate on income derived from "Preferred Enterprises" plans			580				204				346
Earnings from foreign subsidiaries (1)			(2,338	)			91				(338	)
Valuation allowance for exchange rates differences on deferred taxes not recorded on capital losses			-				(125	)			(42	)
Deferred tax assets from discontinued operation loss			(138	)			(49	)			(36	)
Reduced deferred tax asset from expecting utilization of carryforward losses			1,984				-				-
Tax in respect of prior years			(345	)			-				(481	)
Temporary differences for which no deferred taxes were recorded			(377	)			(55	)			8
Permanent differences			24				55				245
Other adjustments			151				(7	)			50
Taxes on income (tax benefit) as reported in the statements of income		$	(1,517	)		$	589			$	(1,464	)

(1)         The Company record an accrual that related to a deferred tax liability due to the possibility of future distribution of earnings from foreign subsidiaries of the Company.

Schedule of Income (Loss) from Continuing Operations Before Income Tax Domestic and Foreign

Income (loss) before taxes on income (tax benefit) is comprised as follows:

		Year ended December 31,
		2020				2019				2018
Domestic (Israel)		$	(4,499	)		$	(1,931	)		$	(4,781	)
Foreign (United States)			(317	)			4,113				(471	)
		$	(4,816	)		$	2,182			$	(5,252	)

Schedule of Components of Income Tax Provision

Taxes on income (tax benefit) included in the statements of income:

		Year ended December 31,
		2020				2019				2018
Current:
Domestic (Israel)		$	-			$	-			$	-
Foreign (United States)			-				181				(881	)
			-				181				(881	)
Deferred:
Domestic (Israel)			(683	)			(397	)			(813	)
Foreign (United States)			(489	)			805				711
			(1,172	)			408				(102	)
Previous years:
Domestic (Israel)			(134	)
Foreign (United States)			(211	)			-				(481	)
			(345	)			-				(481	)
		$	(1,517	)		$	589			$	(1,464	)

Schedule of Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of TAT's deferred tax liabilities and assets are as follows:

		December 31,
		2020				2019
Deferred tax assets:
Provision for current expected credit losses		$	41			$	67
Provisions for employee benefits			272				470
Inventory			987				964
Intangible assets			-				42
Capital tax losses carryforward			3,500				3,500
Net operating losses carryforward			3,017				1,669
Other			224				96
Deferred tax assets, before valuation allowance		$	8,041			$	6,808
Valuation allowance			(5,484	)			(3,500	)
Deferred tax assets, net		$	2,557			$	3,308
Deferred tax liabilities:
Property, plant and equipment			(1,647	)			(2,159	)
Intangible assets			(318	)			-
Earnings from foreign subsidiaries (1)			-				(1,953	)
Other temporary differences deferred tax liabilities			(26	)			(68	)
Deferred tax liabilities		$	(1,991	)		$	(4,180	)
Net		$	566			$	(872	)

(1) The Company record an accrual that related to a deferred tax liability due to the possibility of future distribution of earnings from foreign subsidiaries of the Company.

Schedule of changes in valuation allowance for deferred tax assets

The following table summarizes the changes in the valuation allowance for deferred tax assets:

Balance, December 31, 2017			3,417
Additions during the year			(42	)
Balance, December 31,2018		$	3,375
Deductions during the year			125
Balance, December 31,2019		$	3,500
Additions during the year			1,984
Balance, December 31,2020		$	5,484

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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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-Publisher FASB
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-SubTopic 10
-Section 50
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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 income before income tax between domestic and foreign jurisdictions.

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