XML 80 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Tax (Tables)
6 Months Ended
Jun. 30, 2013
Income Tax Disclosure [Abstract]  
Reconciliation of income tax expense
The reconciliation of income tax expense at the U.S. statutory rate of 35% in 2013 and 2012, to the Company's effective tax rate is as follows:  
                         
                    Six months ended June 30,
                    2013   2012
                         
U.S. Statutory rate                  $                      2,361,684    $                     2,232,720
Tax rate difference between China and U.S.                                        (716,631)                             (719,507)
Change in Valuation Allowance                                           127,497                               265,035
Permanent difference                                             34,069                                 14,425
Effective tax rate                  $                      1,806,619    $                     1,792,673
                         
The provisions for income taxes are summarized as follows:              
                    Six months ended June 30,
                    2013   2012
Current                    $                      1,955,834    $                     1,751,017
Deferred                                              (149,215)                                 41,656
Total                    $                      1,806,619    $                     1,792,673