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INCOME TAX (Tables)
12 Months Ended
Dec. 31, 2019
INCOME TAX  
Schedule of Income Tax Expenses

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

    

2019

    

2018

    

2017

Current

 

$

1,583,343

 

$

2,147,164

 

$

665,745

Deferred

 

 

(49,549)

 

 

(17,777)

 

 

25,811

Income tax expenses

 

$

1,533,794

 

$

2,129,387

 

$

691,556

 

Schedule of Effective Income Tax Reconciliation

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

    

2019

    

2018

    

2017

Computed "expected" income tax expenses

 

$

3,486,260

 

$

3,378,592

 

$

1,647,484

Effect on tax incentive / holiday

 

 

(1,394,504)

 

 

(1,377,961)

 

 

(993,090)

Non-deductable / (taxable) expense

 

 

(557,962)

 

 

128,756

 

 

37,162

Income tax expenses

 

$

1,533,794

 

$

2,129,387

 

$

691,556

 

Schedule of Deferred Tax Assets

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2019

    

2018

    

2017

 

 

 

 

 

 

 

 

 

 

Provision of doubtful accounts

 

$

188,036

 

$

140,930

 

$

130,346

Reserve for inventories

 

 

17,966

 

 

18,206

 

 

19,165

 

 

$

206,002

 

$

159,136

 

$

149,511