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INCOME TAX (Tables)
12 Months Ended
Dec. 31, 2020
INCOME TAX  
Schedule of Income Tax Expenses

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

    

2020

    

2019

    

2018

Current

 

$

1,591,008

 

$

1,583,343

 

$

2,147,164

Deferred

 

 

(22,899)

 

 

(49,549)

 

 

(17,777)

Income tax expenses

 

$

1,568,109

 

$

1,533,794

 

$

2,129,387

 

Schedule of Effective Income Tax Reconciliation

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

    

2020

    

2019

    

2018

Computed "expected" income tax expenses

 

$

3,399,186

 

$

3,486,260

 

$

3,378,592

Effect on tax incentive / holiday

 

 

(1,281,070)

 

 

(1,394,504)

 

 

(1,377,961)

Non-deductible / (taxable) expense

 

 

(550,007)

 

 

(557,962)

 

 

(128,756)

Income tax expenses

 

$

1,568,109

 

$

1,533,794

 

$

2,129,387

 

Schedule of Deferred Tax Assets

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2020

    

2019

    

2018

 

 

 

 

 

 

 

 

 

 

Provision of doubtful accounts

 

$

223,375

 

$

188,036

 

$

140,930

Reserve for inventories

 

 

19,037

 

 

17,966

 

 

18,206

 

 

$

242,412

 

$

206,002

 

$

159,136