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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

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

Income before income taxes and income taxes expense (benefit) included in the consolidated statements of operations

		Year ended December 31
		2014				2015				2016
		US$ thousands
Income (loss) before income taxes:
Israel			16,522				19,486				15,541
Foreign jurisdiction			787				(1,061	)			324
			17,309				18,425				15,865
Current taxes:
Israel			2,494				2,383				2,242
Foreign jurisdiction			409				465				720
			2,903				2,848				2,962
Current tax (benefits) expenses relating to prior years:
Israel			20				-				26
Foreign jurisdiction			-				(36	)			-
			20				(36	)			26
Deferred taxes:
Israel			(200	)			(437	)			10
Foreign jurisdiction			(19	)			(470	)			(270	)
			(219	)			(907	)			(260	)
Income tax expense			2,704				1,905				2,728

Deferred Income Taxes

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

		December 31				December 31
		2015				2016
		US$ thousands				US$ thousands
Deferred tax assets:
Accrued employee benefits			247				261
Research and development costs			679				921
Tax loss carryforwards			177				338
PPE			16				15
Inventory			160				-
Share based compensation			245				246
Intangible assets			-				107
Other			21				2
Total gross deferred tax assets			1,545				1,890
Deferred tax liabilities:
Intangible assets			(243	)			(138	)
Goodwill			(61	)			(215	)
Other			36				-
Total gross deferred tax liabilities			(268	)			(353	)
Net deferred tax assets			1,277				1,537
In Israel			1,348				1,338
Foreign jurisdictions			(71	)			199
Net deferred tax assets			1,277				1,537
Non-current deferred tax assets			1,545				1,537
Non-current deferred tax liabilities			(268	)			-
Net deferred tax assets			1,277				1,537

Reconciliation of the Statutory Tax Expense to Actual Tax Expense

Reconciliation of the statutory tax expense to actual tax expense

		Year ended December 31
		2014				2015				2016
		US$ thousands
Income before income taxes			17,309				18,425				15,865
Statutory tax rate in Israel			26.5	%			26.5	%			25.0	%
			4,587				4,883				3,966
Increase (decrease) in taxes resulting from:
Non-deductible operating expenses, net			476				209				228
Non-taxable income			-				(819	)			(84	)
Prior year adjustments			20				(36	)			26
Tax effect due to "Approved/Benefited/
Preferred Enterprise" status			(2,588	)			(2,368	)			(1,924	)
Taxes related to foreign jurisdictions			181				250				324
Changes in tax rate			-				35				94
Creation of deferred taxes for tax losses and
benefits from previous years for which deferred
taxes were not created in  the past			-				(252	)			-
Other			28				3				98
Income tax expense			2,704				1,905				2,728

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- References

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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=65882285&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=65882285&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=65882285&loc=d3e32687-109319

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