Incredimail 2013 Annual Report Download - page 127

PERION NETWORK LTD. AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
U.S. dollars in thousands (except share and per share data)
Domestic:
Current deferred tax assets, net, is included within other receivables and prepaid expenses in the balance sheets. Curre
deferred tax liability, net, is included within accrued expenses and other liabilities in the balance sheets. Non-
curre
deferred tax asset, net is included within other assets on the balance sheets. Long term deferred tax is included within oth
long term liabilities on the balance sheet.
NOTE 10:- INCOME TAXES (Cont.)
December 31,
2012
2013
Current deferred tax asset, net
$
360
$
110
Current deferred tax liability
(971
)
(659
)
Non
-
current deferred tax asset, net
140
73
Long-term deferred tax liability
(2,879
)
(2,518
)
$
(3,350
)
$
(2,994
)
g.
Reconciliation of the Company's effective tax rate to the statutory tax rate in Israel:
Year ended December 31,
2011
2012
2013
Income before taxes on income
$
5,840
$
6,007
$
2,647
Statutory tax rate in Israel
24
%
25
%
25
%
Theoretical income tax expense
$
1,402
$
1,502
$
662
Increase (decrease) in tax expenses resulting from:
"Preferred Enterprise" benefits (*)
(1,751
)
(1,369
)
(1,091
)
Non
-
deductible expenses
78
757
2,406
Previous years taxes
(156
)
-
(672
)
Tax on previously distributed dividend from tax
-
exempt income
-
812
-
Loss and timing differences for which no deferred taxes were recorded
994
1,009
247
Change in statutory tax rate
-
-
757
Tax adjustment in respect of different tax rate of foreign
subsidiaries
(400
)
(151
)
78
Other
5
(87
)
(50
)
Taxes on income
172
2,473
2,337
(*) Benefit per Ordinary share, resulting from " Preferred Enterprise " status:
Basic
$
0.18
$
0.13
$
0.18
Diluted
$
-
$
0.13
$
0.17
F
-
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