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Taxes Payable | 9 Months Ended
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Sep. 30, 2020
Tax Payable [Abstract] |
TAXES PAYABLE | 6. TAXES PAYABLE Taxes payable consisted of the following as of September 30, 2020 and December 31, 2019:
|  | 2020 |  |  | 2019 |
Income tax – current |  | $ | 2,125,599 |  |  | $ | 2,118,432 |
Value-added tax |  |  | 311,194 |  |  |  | 1,708,298 |
Other taxes |  |  | 72,999 |  |  |  | 260,912 |
Total – current |  |  | 2,509,792 |  |  |  | 4,087,642 |
Income tax – noncurrent |  | $ | 5,782,625 |  |  | $ | 5,782,625 |
Income tax payable included $7.61 million ($1.83 million included in current above and $5.78 million noncurrent) 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 an election.

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