Incredimail 2012 Annual Report Download - page 122

PERION NETWORK LTD. AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
U.S. dollars in thousands (except share and per share data)
Current deferred tax assets, net, is included within other receivables and prepaid expenses in the balance sheets. Current
deferred tax liability, net, is included within accrued expenses and other liabilities in the balance sheets. Non-
current
deferred tax asset, net is included within other assets on the balance sheets
NOTE 10:
-
INCOME TAXES (Cont.)
Domestic:
December 31,
2011
2012
Current deferred tax asset, net
$
258
$
360
Current deferred tax liability
-
(971
)
Non
-
current deferred tax asset, net
-
140
Long-term deferred tax liability
(12
)
(2,879
)
$
246
$
(3,350
)
g.
Reconciliation of the Company's effective tax rate to the statutory tax rate in Israel
Year ended December 31,
2010
2011
2012
Income before taxes on income
$
11,621
$
5,840
$
6,007
Statutory tax rate in Israel
25
%
24
%
25
%
Theoretical income tax expense
$
2,905
$
1,402
$
1,502
Increase (decrease) in tax expenses resulting from:
"Preferred Enterprise" benefits (*)
-
(1,751
)
(1,369
)
Non
-
deductible expenses
230
78
757
Previous years taxes
-
(156
)
-
Tax on previously distributed dividend from tax
-
exampt income
-
-
812
Loss and timing differences for which no deferred taxes were recorded
-
994
1,009
Tax adjustment in respect of different tax rate of foreign subsidiary
-
(400
)
(151
)
Other
97
5
(87
)
Taxes on income
$
3,232
$
172
$
2,473
(*) Benefit per Ordinary share, resulting from " Preferred Enterprise " status:
Basic
$
-
$
0.18
$
0.13
Diluted
$
-
$
0.18
$
0.13
F
-
30