Incredimail 2009 Annual Report Download - page 102

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INCREDIMAIL LTD .
AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 9:
-
INCOME
TAXES (Cont.)
d.
A reconciliation of the Company's effective tax rate to the statutory tax rate in Israel is as follows:
Year ended December 31,
2007
2008
2009
U.S. dollars in thousands, except for per
share data
Income (loss) before taxes on income
$
(1,369
)
$
4,714
$
11,558
Statutory tax rate in Israel
29
%
27
%
26
%
Theoretical income tax expense (income)
$
(397
)
$
1,273
$
3,005
Increase (decrease) in tax expenses resulting from:
"Approved Enterprise" benefits
(77
)
(236
)
(4
)
Non
-
deductible expenses
358
374
232
Previous years taxes
88
(234
)
185
Losses
(gains) from marketable securities and ARSs for which valuation
allowance has been provided
1,493
(1,065
)
22
Other
(72
)
177
105
Taxes on income
$
1,393
$
289
$
3,545
Benefit per Ordinary share, resulting from "Approved Enterprise" status:
Basic
$
(0.01
)
$
(0.06
)
$
-
Diluted
$
(0.01
)
$
(0.06
)
$
-
e.
Income taxes are comprised as follows:
Year ended December 31,
2007
2008
2009
U.S. dollars in thousands
Deferred tax benefit (expense)
$
106
$
(216
)
$
1,515
Current taxes
1,199
739
1,845
Previous years taxes
88
(234
)
185
$
1,393
$
289
$
3,545
F-21