9. TAXES PAYABLE

Taxes payable consisted of the following as of June 30, 2018 and December 31, 2017:

	2018		2017
Income - current	$	1,057,136	$	1,097,768
VAT		1,480,255		1,145,363
Other		232,632		180,649
Total - current		2,770,023		2,423,780
Income - noncurrent	$	6,998,625	$	6,998,625

Income tax payable was approximately $8.06 million at June 30, 2018, of which, $1.06 million current and $7.00 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. shareholder 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 will consider making such an election.