NOTE 13 - INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes consists of the following:

	Years Ended December 31,
	2012		2011
Current tax
PRC	$	1,340,909	$	1,277,126
Total	$	1,340,909	$	1,277,126

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The reconciliation of USA statutory income tax rate to the Company’s effective income tax rate is as follows:

	Year Ended December 31,
	2012			2011
Income tax at USA statutory rate (34%)	$	2,634,314		$	2,449,056
State tax, net of federal effect		-			-
Foreign rate differential		(1,566,653	)		(1,474,341	)
Change in valuation allowance		273,248			302,411
Provision for income taxes	$	1,340,909		$	1,277,126