XML 45 R36.htm IDEA: XBRL DOCUMENT v3.10.0.1

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Pre-tax income (loss) from continuing operations for the six months ended June 30, 2018 and 2017 were taxable in the following jurisdictions:

		Six Months				Six Months
		Ended				Ended
		June 30,2018				June 30,2017
		(Unaudited)				(Unaudited)
PRC		$	1,739,641			$	(600,524	)
Others			(853,113	)			(430,543	)
Total income (loss) before income taxes		$	886,528			$	(1,031,067	)

Schedule of Components of Income Tax Expense (benefit)

Income tax (benefit) expense from continuing operations consists of the following:

		Six Months				Six Months
		Ended				Ended
		June 30,2018				June 30,2017
		(Unaudited)				(Unaudited)
Current taxes		$	(1,286,388	)		$	(1,045,500	)
Income tax benefit		$	(1,286,388	)		$	(1,045,500	)

Schedule of Effective Income Tax Rate Reconciliation

Current income tax benefit was recorded in 2018 and 2017 and was related to differences between the book and corporate income tax returns.

		Six Months				Six Months
		Ended				Ended
		June 30,2018				June 30,2017
		(Unaudited)				(Unaudited)
PRC statutory tax rate			25	%			25	%
Computed expected income tax (benefit) expense		$	221,632			$	(257,767	)
Tax rate differential benefit from tax holiday			(248,536	)			26,817
Permanent differences			(1,447,813	)			(930,476	)
Tax effect of deductible temporary differences not recognized			(24,949	)			(47,995	)
Non-deductible tax loss			213,278				163,921
Income tax (benefit) expense		$	(1,286,388	)		$	(1,045,500	)

Schedule of Components of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and deferred tax liabilities were as follows as of June 30, 2018 and December 31, 2017:

		June 30, 2018								December 31, 2017
		(Unaudited)
		Deferred				Deferred				Deferred				Deferred
		Tax				Tax				Tax				Tax
		Assets				Liabilities				Assets				Liabilities
Allowance for doubtful accounts		$	1,142,987			$	-			$	1,188,831			$	-
Loss carry-forwards			1,483,777				-				1,314,061				-
Fixed assets			3,084				(243,913	)			20,937				(243,728	)
Inventory valuation			325,002				-				408,905				-
Salary payable			8,839				-				12,113				-
Intangible assets			226,057				132,517				212,283				134,801
Gross deferred tax assets and liabilities			3,189,746				(111,396	)			3,157,130				(108,927	)
Valuation allowance			(3,078,350	)			-				(3,048,203	)			-
Total deferred tax assets and liabilities		$	111,396			$	(111,396	)		$	108,927			$	(108,927	)

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration