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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

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

		Year ended December 31
		2020				2021				2022
		US$ thousands
Income before income taxes:
Israel			5,565				7,486				17,915
Foreign jurisdictions			1,717				5,419				4,475
			7,282				12,905				22,390
Current taxes:
Israel			1,260				1,281				1,765
Foreign jurisdictions			506				1,192				1,198
			1,766				2,473				2,963
Current tax (benefits) expenses relating to prior years:
Israel			50				(10	)			(215	)
Foreign jurisdictions			(198	)			(147	)			158
			(148	)			(157	)			(57	)
Deferred taxes:
Israel			8				174				1,114
Foreign jurisdictions			(69	)			(126	)			64
			(61	)			48				1,178
Income tax expense			1,557				2,364				4,084

Schedule of Deferred Tax Assets and Liabilities

		December 31				December 31
		2021				2022
		US$ thousands				US$ thousands
Deferred tax assets:
Accrued employee benefits			420				362
Research and development costs			2,000				1,380
Share based compensation			427				391
Intangible assets			228				163
Operating lease liabilities			1,048				693
Other			-				54
Total deferred tax assets			4,123				3,043
Deferred tax liabilities:
Intangible assets			(169	)			(357	)
Goodwill*			(1,300	)			(1,511	)
Operating leases right-of-use, net			(1,000	)			(747	)
Other			(48	)			-
Total deferred tax liabilities			(2,517	)			(2,615	)
Net deferred tax assets			1,606				428
In Israel			1,616				502
Foreign jurisdictions			(10	)			(74	)
Net deferred tax assets			1,606				428
Non-current deferred tax assets			1,616				502
Non-current deferred tax liabilities			(10	)			(74	)

* The recognized goodwill is deductible for income tax purposes for 10 years.

Schedule of Reconciliation of the Statutory Tax Expense to Actual Tax Expense

		Year ended December 31
		2020				2021				2022
		US$ thousands
Income before income taxes			7,282				12,905				22,390
Statutory tax rate in Israel			23.0	%			23.0	%			23.0	%
			1,675				2,968				5,150
Increase (decrease) in taxes resulting from:
Non-deductible operating expenses			508				395				566
Prior years adjustments			(148	)			(157	)			(57	)
Tax effect due to "Preferred Enterprise" status			(533	)			(577	)			(1,949	)
Statutory rate differential			105				(86	)			168
Other			(50	)			(179	)			206
Income tax expense			1,557				2,364				4,084

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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