Note 5 - Income Taxes

Jishanye was incorporated as a holding company with no business other than holding an equity interest of Jishanye Taiwan and carrying professional expenses from registration filing. Jishanye is subject to income tax in United States with a statute income tax rate of 34%. Jishanye Taiwan is subject to income tax in Taiwan with a statute income tax rate of 17%. No provision for income taxes has been recognized for the years ended December 31, 2014 and 2013 as the Company incurred a net operating losses for income tax purposes.

The Company has tax losses that may be applied against future taxable income. The potential tax benefits arising from these loss carryforwards, which expire beginning the year 2022 through 2034, are offset by a valuation allowance due to the uncertainty of profitable operations in the future. As of December 31, 2014 and 2013, the Company had net operating losses carry-forward of $358,691 and $212,855, respectively.

Tax effects of temporary differences that give rise to significant portions of the deferred tax assets at December 31, 2014 and 2013 are presented below:

	December 31, 2014		December 31, 2013
Deferred tax asset
Net operating loss carry forwards	$	83,214	$	36,185
Less: valuation allowance		(83,214)		(36,185)
Net deferred tax asset	$	-	$	-

The following are the major tax jurisdictions in which the Company operates and the earliest tax year subject to examination:

Jurisdiction		Tax Year
Taiwan		2012
United States of America		2012