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Note 12 - (income Tax Income)/provision For Income Taxes (Tables)
3 Months Ended
Aug. 31, 2013
Tables/Schedules  
Schedule of Components of Income Tax Expense (Benefit)

Income tax for three months ended August 31, 2013 and 2012 are summarized as follows:

 

 

 

Three months ended August 31, 2013

Three months ended August 31, 2012

 

 

 

Current – PRC income tax

$(706)

$17,846

Deferred income tax income

(3,683)

(3,598)

Total

$(4,389)

$14,248

 

 

 

Schedule of Effective Income Tax Rate Reconciliation

 

 

Three months ended August 31, 2013

Three months ended August 31, 2012

 

 

 

Income before provision for income taxes

119,140

(73,432)

 

 

 

Expected PRC income tax expense at statutory tax rate of 25%

$29,785

$(18,358)

Different tax rate for PRC/Hong Kong local authority

3,921

1,708

Expenses not deductible for tax

8,301

1,653

Utilization of tax loss brought forward

(84,466)

-

Tax loss not provided for deferred tax

38,070

29,245

 

 

 

Total

$ (4,389)

$14,248