Incredimail 2010 Annual Report Download - page 105

INCREDIMAIL LTD AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The Company is examining the possible effect of the amendment on its results, and at this time has not yet decided
whether to opt to apply the amendment.
The regular corporate tax rate in Israel in 2008 and 2009 and 2010 was 27% and 26% and 25%, respectively. Taxable
income of Israeli companies is subject to tax at the rate of 24% in 2011, 23% in 2012, 22% in 2013, 21% in 2014, 20% in
2015, and 18% in 2016 and thereafter.
Deferred taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for
financial reporting purposes and the amounts used for tax purposes.
Components of the Company's deferred tax assets (liabilities) are as follows:
*) Deferred tax liability with respect to tax exempt income that the Company does not have intention to permanently re-
invest (see Note 9a).
All deferred tax assets and liabilities are domestic.
NOTE 9:
-
INCOME TAXES (Cont.)
b.
Corporate tax rates in Israel:
c.
Deferred tax assets, net:
December 31,
2009
2010
U.S. dollars in thousands
Deferred tax assets:
Employee benefits
$
314
$
214
Losses on marketable securities
324
119
Other
208
197
Deferred tax assets, before valuation allowance
846
530
Valuation allowance
(255
)
(93
)
Total deferred tax assets net of valuation allowance
591
437
Deferred tax liabilities:
Tax exempt income *)
(1,801
)
(1,305
)
Unrealized gain on marketable securities
(69
)
(26
)
Total deferred tax liabilities
(1,870
)
(1,331
)
Net deferred tax liabilities
$
(1,279
)
$
(894
)
F
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22