XML 52 R30.htm IDEA: XBRL DOCUMENT v3.20.1

INCOME TAX AND DEFERRED TAX ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

INCOME TAX AND DEFERRED TAX ASSETS

Schedule of deferred tax assets

		2019			2018
Deferred tax items
Accounts receivable, net		$	12,807		$	49,963
Accrued expenses			112,954			162,089
Deferred income			26,429			64,153
Depreciation			(18,429)			—
Net operating loss carryforward			57,695			327,473
Total deferred items			191,456			603,678
Tax rate at			25	%		25	%
Deferred tax assets			47,864			150,920
Valuation allowance			(14,424)			(15,449)
Deferred tax assets, net		$	33,440		$	135,471

Schedule of provision for income taxes

		2019			2018			2017
Current		$	206		$	—		$	338,194
Deferred tax adjustment			101,166			(134,454)			58,358
Change in valuation allowance			—			134,454			—
Total		$	101,372		$	—		$	396,552

Schedule of reconciliation of the statutory income tax rate and the effective income tax rate

		2019		2018		2017
Hong Kong statutory income tax rate		16.5	%	16.5	%	—
Valuation allowance recognized with respect to the loss in the Hong Kong Company		(16.5)	%	(16.5)	%	—
PRC statutory income tax rate		25.0	%	25.0	%	25.0	%
Effect of income tax exemptions and reliefs in the PRC companies		0.0	%	0.0	%	0.0	%
Effect of loss carryforward in the PRC companies		(24.9)	%	(25.0)	%	0.0	%
Effect of non-deductible expenses in the PRC companies		0.0	%	0.0	%	0.4	%
Effective rate		0.1	%	0.0	%	25.4	%

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