Income TaxIncome tax benefit was $0.8 million in the first quarter of 2013, primarily due to the fact that in March 2013, one of AutoNavi's consolidated entities was certified as a "key software enterprise" by the relevant PRC government authorities and was therefore entitled to a retroactive preferential tax rate of 10% for the years 2011 and 2012, which resulted in a decrease of income tax expense of approximately $1.5 million. The cumulative effect of the change in the enacted tax rate was reflected in the first quarter of 2013 that included the enactment date.
AutoNavi Holdings Limited Reports First Quarter 2013 Results
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