XML 34 R19.htm IDEA: XBRL DOCUMENT v2.4.1.9

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes Tables

Provision for income taxes

The reconciliation of income tax expense computed at the U.S. federal statutory rate to the income tax provision for the years ended December 31, 2014 and 2013 is as follows:

Income before income taxes		$	7,041,874			$	286,685
Taxes under statutory US tax rates			2,394,237				86,307
Increase (decrease) in taxes resulting from:
Increase (decrease) in valuation allowance			(8,509	)			12,562
Foreign tax rate differential			(1,392,850	)			(138,550	)
Permanent differences			2,026				-
State taxes			2,279				-
Income tax expense		$	(997,183	)		$	(39,681	)

Deferred tax assets

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities consist of the following:

US		12/31/2014				12/31/2013
Net operating loss carry forward		$	201,457			$	198,123
Accrued salaries and other liabilities			-				87,654

Cyprus
Net operating loss carry forward			11,439				2,518
Total deferred tax asset			212,896				288,295
Valuation allowance			(212,896	)			(288,295	)
Deferred tax asset, net		$	-			$	-

X

- Details

Name:	COSM_IncomeTaxesTablesAbstract
Namespace Prefix:	COSM_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration