XML 42 R13.htm IDEA: XBRL DOCUMENT
v3.21.2

Deferred Tax, Net | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2021 | Dec. 31, 2020
Deferred Tax Assets Liabilities Net Disclosure [Abstract] |  |
DEFERRED TAX, NET | 7. DEFERRED TAX, NET Deferred tax assets resulted from asset impairment loss which was temporarily non-tax deductible for tax purposes but expensed in accordance with US GAAP; interest income in sales-type leases which was recognized as income for tax purposes but not for book purpose as it did not meet revenue recognition in accordance with US GAAP; accrued employee social insurance that can be deducted for tax purposes in the future, and the difference between tax and accounting basis of cost of fixed assets which was capitalized for tax purposes and expensed as part of cost of systems in accordance with US GAAP. Deferred tax liability arose from the difference between tax and accounting basis of net investment in sales-type leases. As of September 30, 2021 and December 31, 2020, deferred tax assets consisted of the following:
|  | 2021 |  |  | 2020 |
Accrued expenses |  | $ | 70,446 |  |  | $ | 70,019 |
Write-off Erdos TCH net investment in sales-type leases * |  |  | 6,352,124 |  |  |  | 6,155,300 |
US NOL |  |  | 415,851 |  |  |  | 254,035 |
PRC NOL |  |  | 2,623,801 |  |  |  | 10,849,690 |
Total deferred tax assets |  |  | 9,462,222 |  |  |  | 17,329,044 |
Less: valuation allowance for deferred tax assets |  |  | (9,462,222 | ) |  |  | (17,329,044 | )
Deferred tax assets, net |  | $ | - |  |  | $ | - |
| * | This represents the tax basis of Erdos TCH investment in sales type leases, which was written off under US GAAP upon modification of lease terms, which made the lease payments contingent upon generation of electricity.
| 8. DEFERRED TAX, NET Deferred tax assets resulted from asset impairment loss which was temporarily non-tax deductible for tax purposes but expensed in accordance with US GAAP, interest income in sales-type leases which was recognized as income for tax purposes but not for book purpose as it did not meet revenue recognition in accordance with US GAAP, accrued employee social insurance that can be deducted for tax purposes in the future, and the difference between tax and accounting basis of cost of fixed assets which was capitalized for tax purposes and expensed as part of cost of systems in accordance with US GAAP. Deferred tax liability arose from the difference between tax and accounting basis of net investment in sales-type leases. As of December 31, 2020 and 2019, net deferred tax assets consisted of the following:
|  | 2020 |  |  | 2019 |
Non-current deferred tax assets |  |  |  |  |  |
Accrued expenses |  | $ | 70,019 |  |  | $ | 189,050 |
Interest income in sales-type leases on cash basis |  |  | - |  |  |  | 853,265 |
Depreciation of fixed assets |  |  | - |  |  |  | 2,938,605 |
Assets impairment loss |  |  | - |  |  |  | 7,537,556 |
Write-off Erdos TCH net investment in sales-type leases |  |  | 6,155,300 |  |  |  | 6,349,604 |
US NOL |  |  | 254,035 |  |  |  | 3,246,655 |
PRC NOL |  |  | 10,849,690 |  |  |  | 10,424,558 |
Non-current deferred tax liabilities |  |  |  |  |  |  |  |
Net investment in sales-type leases |  |  | - |  |  |  | (6,685,021 | )
Net non-current deferred tax assets |  |  | 17,329,044 |  |  |  | 24,854,272 |
Less: valuation allowance for deferred tax assets |  |  | (17,329,044 | ) |  |  | (24,854,272 | )
Non-current deferred tax assets, net |  | $ | - |  |  | $ | - |

X
- References No definition available. + Details
Name: | creg_DeferredTaxAssetsLiabilitiesNetDisclosureAbstract
Namespace Prefix: | creg_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure deferred tax assets and liability for the period. + References No definition available. + Details
Name: | creg_DeferredTaxAssetsLiabilitiesNetDisclosureTextBlock
Namespace Prefix: | creg_
Data Type: | dtr:textBlockItemType
Balance Type: | na
Period Type: | duration