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Taxes Payable

12 Months Ended

Dec. 31, 2018

Taxes Payable [Abstract]

TAXES PAYABLE

9. TAXES PAYABLE

Taxes payable consisted of the following as of December 31, 2018 and 2017:

		2018				2017
Income – current		$	1,718,051			$	1,097,768
VAT			1,666,695				1,145,363
Other			251,813				180,649
Total – current			3,636,559				2,423,780
Income – noncurrent		$	6,390,625			$	6,998,625

Income tax payable was approximately $8.11 million at December 31, 2018, including $1.21 million current and $6.39 million noncurrent was from recording the estimated one-time transition tax on post-1986 foreign unremitted earnings under the Tax Cut and Jobs Act signed on December 22, 2017. An election is available for the U.S. shareholders of a foreign company to pay the tax liability in installments over a period of eight years with 8% of net tax liability in the first five years, 15% in the sixth year, 20% in the seventh year, and 25% in the eighth year. The Company made such election.