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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2017

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
		2015				2016				2017
		US$ thousands
Income (loss) before income taxes:
Israel			19,486				15,541				23,226
Foreign jurisdiction			(1,061	)			324				2,356
			18,425				15,865				25,582
Current taxes:
Israel			2,383				2,242				2,379
Foreign jurisdiction			465				720				1,095
			2,848				2,962				3,474
Current tax (benefits) expenses relating to prior years:
Israel			-				26				12
Foreign jurisdiction			(36	)			-				(71	)
			(36	)			26				(59	)
Deferred taxes:
Israel			(437	)			10				549
Foreign jurisdiction			(470	)			(270	)			(96	)
			(907	)			(260	)			453
Income tax expense			1,905				2,728				3,868

Deferred Income Taxes

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

		December 31				December 31
		2016				2017
		US$ thousands				US$ thousands
Deferred tax assets:
Accrued employee benefits			261				282
Research and development costs			921				846
Tax loss carryforwards			338				111
PPE			15				15
Share based compensation			246				213
Intangible assets			107				110
Other			2				2
Total gross deferred tax assets			1,890				1,579
Deferred tax liabilities:
Intangible assets			(138	)			-
Goodwill			(215	)			(680	)
Total gross deferred tax liabilities			(353	)			(680	)
Net deferred tax assets			1,537				899
In Israel			1,338				788
Foreign jurisdictions			199				111
Net deferred tax assets			1,537				899
Non-current deferred tax assets			1,537				899

Reconciliation of the Statutory Tax Expense to Actual Tax Expense

Reconciliation of the statutory tax expense to actual tax expense

		Year ended December 31
		2015				2016				2017
		US$ thousands
Income before income taxes			18,425				15,865				25,582
Statutory tax rate in Israel			26.5	%			25.0	%			24.0	%
			4,883				3,966				6,140
Increase (decrease) in taxes resulting from:
Non-deductible operating expenses, net			209				228				364
Non-taxable income			(819	)			(84	)			(1,114	)
Prior year adjustments			(36	)			26				(59	)
Tax effect due to
"Preferred Enterprise" status*			(2,368	)			(1,924	)			(2,361	)
Taxes related to foreign jurisdictions			250				324				632
Changes in tax rate			35				94				162
Creation of deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in  the past			(252	)			-				-
Other			3				98				104
Income tax expense			1,905				2,728				3,868

Schedule of Effect of the Benefit Resulting From the "Preferred Enterprise" Status on Net Earnings Per Ordinary Share

The effect of the benefit resulting from the "Preferred Enterprise" status on net earnings per ordinary share is as follows:

		Year ended December 31
		2015				2016				2017
Basic			0.33				0.26				0.32
Diluted			0.32				0.26				0.31

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- Definition

Tabular disclosure of the effect of the benefit resulting from the "Preferred Enterprise" status on net earnings per ordinary share.

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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=84230637&loc=d3e32639-109319

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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.

+ 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=84230637&loc=d3e32537-109319

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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.

+ 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=84230637&loc=d3e32687-109319

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