15. DEFERRED TAX ASSET (LIABILITY)

3 Months Ended

Mar. 31, 2014

Deferred Tax Assets Liabilities Net Disclosure [Abstract]

Deferred Tax Assets Liabilities Net Disclosure [Text Block]

15. DEFERRED TAX ASSET (LIABILITY)

Deferred tax asset (liability) represented differences between the bad debt allowance and provision of inventory impairment booked by the Company which was not allowed per tax purpose, and net operating loss for income tax purpose. As of March 31, 2014 and December 31, 2013, deferred tax asset (liability) consisted of the following:

	2014			2013
Deferred tax asset - current (bad debt allowance)	$	1,364,122		$	1,554,485
Deferred tax asset - current (inventory allowance)		948,064			905,993
Deferred tax asset – current (allowance to other receivable)		127,225			128,377
Deferred tax asset – current (allowance for advance to supplier)		1,441,427			1,454,477
Deferred tax asset – noncurrent (NOL)		2,712,218			2,646,258
Less: valuation allowance		(6,593,056	)		(6,689,590	)
Net	$	-		$	-