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TAXES PAYABLE
 12 Months Ended
Dec. 31, 2011
TAXES PAYABLE

NOTE 9 – TAXES PAYABLE

 

Taxes payable consists of the following:

 

    As of December 31,  
    2011     2010  
             
Income tax payable   $ 1,761,452     $ 4,377,314  
Mineral resource compensation fee payable     410,719       486,585  
Value added tax payable     540,463       1,031,525  
Land use tax payable     1,081,117       966,397  
Other tax payables     264,799       301,274  
Total   $ 4,058,550     $ 7,163,095