Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of income tax [text block] [Abstract]

Schedule of weighted combination of applicable rates

Tax Exemption Period	Reduced Tax Period	Rate of Reduced Tax			Percent of Foreign Ownership
2/10 years	5/0 years		25	%		0-25%
2/10 years	8/0 years		25	%		25-49%
2/10 years	8/0 years		20	%		49-74%
2/10 years	8/0 years		15	%		74-90%
2/10 years	8/0 years		10	%		90-100%

Schedule of deferred tax liabilities and assets

	Statements of financial position				Statements of profit or loss
	December 31,				Year ended December 31,
	2021		2020		2021		2020			2019
	U.S Dollars in thousands
Deferred tax liabilities:
Financial assets measured at fair value through other comprehensive income		-		-
Revaluation of derivatives		-		-
Deferred tax assets:
Carryforward tax losses		-		-		-		(1,330	)		(726	)
Employee benefits		-		-
Deferred tax income (expenses)						-		(1,330	)		(726	)
Deferred tax assets, net	$	-	$	-

Schedule of current taxes on income

	Year ended December 31,
	2021		2020		2019
	U.S. Dollars in thousands
Current taxes	$	345	$	95	$	-
Deferred tax expenses (income)		-		1,330		726
Taxes in respect of prior years				-		4
Taxes on income	$	345		$ 1,425	$	730

Schedule of reconciliation of taxes on profit loss

	Year ended December 31,			Year ended December 31
	2020			2019
	U.S. Dollars in thousands			U.S. Dollars in thousands
Gain before taxes on income	$	18,565		$	22,981
Statutory tax rate		23	%		23	%
Tax calculated using the statutory tax rate		4,270			5,286
Increase (decrease) in taxes resulting from permanent differences - the tax effect:
Adjustment of deferred tax balances following a change in tax rates					(356	)
Taxable income with preferred income tax rates by virtue of the Encouragement Law		(3,082	)		(3,747	)
Tax exempt income, income subject to special tax rates and nondeductible expenses and other		(303	)		(105	)
Difference between measurement basis of income/expenses for tax purposes and measurement basis of income/expenses for financial reporting purposes		441			-
Increase in unrecognized tax losses in the year		-			(352	)
Prior year taxes		-			4
Other		99			-
Tax on income	$	1,425		$	730
Effective tax rate		7.7	%		3.2	%