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TAXES ON INCOME (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Reconciliation of Tax Provisions to the Domestic and Effective Tax Rate

	Year ended December 31,
	2014		2013		2012
Income before taxes on income as reported in the statements of income	$	2,525	$	5,267	$	5,279

Statutory tax rate in Israel		26.5%		25%		25%

Theoretical taxes on income	$	669	$	1,317	$	1,320

Increase (decrease) in taxes on income resulting from:
Tax adjustment for foreign subsidiaries subject to a different tax rate		457		453		434
Reduced tax rate on income derived from "Preferred Enterprises" plans		156		(255)		(143)
Change in enacted tax rates		-		34		-
Exempt income		-		-		(4)
Valuation allowance		(100)		294		499
Tax in respect of prior years		(44)		(342)		(83)
Permanent differences		222		(460)		67
Taxes on income as reported in the statements of income	$	1,360	$	1,041	$	2,090

Schedule of Income (Loss) from Continuing Operations Before Income Tax Domestic and Foreign

Income (loss) before taxes on income (tax benefit) is comprised as follows:

Schedule of Components of Income Tax Provision

Taxes on income (tax benefit) included in the statements of income:

Schedule of Deferred Tax Assets and Liabilities

Significant components of TAT's deferred tax liabilities and assets are as follows:

Schedule of changes in valuation allowance for deferred tax assets

Balance, January 1, 2012	$	184
Addition charged to expenses		1,639

Balance, December 31, 2012		1,823
Addition charged to expenses		1,483

Balance, December 31,2013		3,306
Addition charged to expenses		268

Balance, December 31,2014	$	3,574

Reconciliation of the Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized provision is as follows:

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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