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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes Tables

Provision for income taxes

The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate (35%) to pre-tax income (loss) as a result of the following differences:

Income (loss)before income taxes		$	286,685			$	(455	)
Taxes (benefit) under statutory U.S. tax rates			86,307				(159	)
Increase (decrease) in taxes resulting from:
Increase in valuation allowance			12,562				574
Non-U.S. Source income (loss)			(138,550	)			(733	)
State taxes			-				-
Income tax expense		$	(39,681	)		$	-

Deferred tax assets

Deferred tax assets and valuation allowances at December 31, 2013 and December 31, 2012 are as follows:

		12/31/2013				12/31/2012
Deferred tax asset – Net operating loss		$	13,136			$	574
Less: reserve			(13,136	)			(574	)
Net deferred tax asset		$	-				-

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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