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Taxes Payable
 6 Months Ended
Jun. 30, 2019
Taxes Payable [Abstract]  
TAXES PAYABLE

9. TAXES PAYABLE

 

Taxes payable consisted of the following as of June 30, 2019 and December 31, 2018:

 

   2019   2018 
Income tax – current  $1,571,490   $1,718,051 

Value-added tax

   1,733,519    1,666,695 
Other taxes   264,763    251,813 
Total – current   3,569,772    3,636,559 
Income tax – noncurrent  $6,390,525   $6,390,625 

 

Income tax payable was approximately $7.96 million at June 30, 2019, including $1.57 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.