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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2013

Taxes on Income [Abstract]

Income Before Income Taxes and Income Taxes Expense (Benefit) Included in The Consolidated Statements of Operations

		Year ended December 31
		2011				2012				2013
		US$ thousands
Income before income taxes:
Israel			8,899				10,086				16,857
Foreign jurisdiction			11				695				1,125
			8,910				10,781				17,982
Current taxes:
Israel			619				784				949
Foreign jurisdiction			-				116				479
			619				900				1,428
Tax (benefits) expenses relating to prior years:
Israel			(38	)			(12	)			29
Deferred taxes:
Israel			73				(3	)			(552	)
Foreign jurisdiction			13				25				-
			86				22				(552	)
Income tax expense			667				910				905

Deferred Income Taxes

The tax effects of significant items comprising the Company's deferred tax assets are as follows:

		December 31				December 31
		2012				2013
		US$ thousands				US$ thousands
Deferred tax assets:
Accrued employee benefits			147				248
Research and development costs			8				458
PPE			5				5
Other			1				2
Total gross deferred tax assets			161				713
Net deferred tax assets			161				713
Current			47				274
Non-current			114				439
Total			161				713

Reconciliation of the Statutory Tax Expense to Actual Tax Expense

Reconciliation of the statutory tax expense to actual tax expense

		Year ended December 31
		2011				2012				2013
		US$ thousands
Income before income taxes			8,910				10,781				17,982
Statutory tax rate in Israel			24	%			25	%			25	%
			2,138				2,695				4,496
Increase (decrease) in taxes resulting from:
Non-deductible operating expenses			123				159				205
Prior year adjustments			(38	)			(12	)			29
Change in valuation allowance			12				(63	)			-
Tax effect due to "Approved Enterprise" status			(1,640	)			(2,063	)			(4,396	)
Taxes related to foreign jurisdictions			-				30				198
Changes in tax rate			65				(58	)			399
Other			7				222				(26	)
Income tax expense			667				910				905

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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