Note 14 - Taxes Payable

12 Months Ended

May. 31, 2015

Notes

Note 14 - Taxes Payable

NOTE 14 – TAXES PAYABLE

Taxes payable at the balance sheet dates are summarized as follows:

	2015	2014
Income tax payable	$487,044	$456,922
Business tax and other tax payables	169,198	214,203
Total	$656,242	$671,125

Business tax represents PRC sales tax imposed upon the Company’s services provided in the PRC.  Tax rates range from 3% to 5% depending on the nature of the taxable activities.

Income tax represents PRC income tax. The provision for PRC income tax is based on a statutory rate of 25% of the assessable income of the PRC subsidiaries as determined in accordance with the relevant income tax rules and regulations of the PRC.