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Taxes on Income | 12 Months Ended
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Dec. 31, 2018
Taxes On Income |
TAXES ON INCOME | NOTE 8 - TAXES ON INCOME:
| a. | Corporate taxation in Israel
The income of the Company and Safe-T is taxed at the regular corporate tax rate which is 25% for 2016, 24% for 2017, and 23% for the year 2018 and thereafter. Safe-T Inc. is taxed at a regular US federal tax rate of 15% for the tax year 2016, 35% for the tax year 2017, and 21% as of the tax year of 2018.
| b. | Tax assessments
Tax assessments filed by the Company and Safe-T by 2013 are considered final.
| c. | Carryforward tax losses
Carryforward tax losses in Israel of the Company amounted to approximately $3.3 million and $1.1 million as of December 31, 2018 and 2017, respectively. Carryforward tax losses in Israel of Safe-T amounted to approximately $20.4 million and $15.4 million as of December 31, 2018 and 2017, respectively. The Company did not recognize deferred taxes for these losses since their utilization is not expected in the foreseeable future.
| d. | Theoretical tax reconciliation
Following is a reconciliation of the theoretical tax expense, assuming all income is taxed at the regular tax rates applicable to companies in Israel (see section a above) and the actual tax expense:
|  | Year ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | % |  |  | U.S. dollars in thousands |  |  | % |  |  | U.S. dollars in thousands |  |  | % |  |  | U.S. dollars in thousands |
Loss before taxes on income, as reported in the statement of operations |  |  | 100 |  |  |  | 11,747 |  |  |  | 100 |  |  |  | 5,312 |  |  |  | 100 |  |  |  | 8,920 |
Theoretical tax saving on this profit or loss |  |  | (23 | ) |  |  | (2,702 | ) |  |  | (24 | ) |  |  | (1,275 | ) |  |  | (25 | ) |  |  | (2,230 | )
Increase in taxes resulting from permanent differences - non-deductible expenses |  |  | 4.5 |  |  |  | 524 |  |  |  | 1.6 |  |  |  | 83 |  |  |  | 14.1 |  |  |  | 1,261 |
Increase in taxes resulting from tax losses in the reported year for which deferred taxes were not recognized |  |  | 18.6 |  |  |  | 2,184 |  |  |  | 22.5 |  |  |  | 1,193 |  |  |  | 10.9 |  |  |  | 971 |
Tax expenses |  |  | 0.05 |  |  |  | 6 |  |  |  | 0.02 |  |  |  | 1 |  |  |  | 0.02 |  |  |  | 2 |

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- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2018-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=12&date=2018-03-01&anchor=sect_Disclosure&doctype=Standard -URIDate 2018-03-16 + Details
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