Taxes (Tables)

9 Months Ended

Sep. 30, 2013

Entity		Income Tax Jurisdiction
Andatee Marine Fuel Services Corp.		U.S.A
Goodwill Rich International		Hong Kong
Fusheng, Xingyuan and their subsidiaries		PRC

Schedule of Reconcilation of Statutory Rates To Company Effective Tax Rates

The following table reconciles the statutory rates to the Company’s effective tax rate for the periods indicated:

	September 30,			September 30,
	2013			2012
U.S. Statutory rates		34	%		34	%
Foreign income not recognized in the U.S.		(34)			(34)
Hong Kong income tax		-			-
China Statutory income tax rate		25			25
Non-deductible expenses-permanent difference (Note A)		176.4			-
Operating loss carry-forward		(25.2)			(25)
Effective tax rate		176.2	%		0	%

Note A: non-deductible expenses primarily included legal, accounting and other consulting expenses of Hong Kong Goodwill Rich which are not expected to be deductible for Hong Kong income taxes in the future.

Schedule Of Provision For Income Taxes

The provision for income taxes consists of taxes on income from operations plus unrecognized tax benefits plus changes in deferred taxes for the periods ended:

	September 30, 2013		September 30, 2012
Current	$	689,407	$	100,332
Deferred		187,900		(559,495)
Total	$	877,307	$	(459,163)

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets as of September 30, 2013 and December 31, 2012 consist of the following:

	September 30, 2013		December 31, 2012
Net operating loss of subsidiaries	$	1,185,137	$	839,409
Temporary difference		682,412		-
Effect of foreign currency exchange rate		(16,459)		1,131
Total		1,851,090		840,540
Less: valuation allowance		(1,178,242)		-
Deferred tax assets	$	672,848	$	840,540

Taxes Payable

Taxes Payable consisted of the followings:

	September 30,		December 31,
	2013		2012
Income Tax Payable	$	1,069,119	$	272,557
VAT Payable		4,775,580		1,765,953
Other Tax Payable		797,980		681,007
Total	$	6,642,679	$	2,719,517