INCOME TAX (Tables)

6 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Reconciliation of U.S. Statutory Rates to Effective Tax Rate

The following table reconciles the US statutory rates to the Company’s effective tax rate for the six and three months ended June 30, 2015 and 2014, respectively:

	Six Months						Three Months
	2015			2014			2015			2014
U.S. statutory rates		34.0	%		34.0	%		34.0	%		34.0	%
Tax rate difference – current provision		(9.3)	%		(6.1)	%		(9.1)	%		(4.3)	%
Effective tax holiday		(8.2)	%		(8.0)	%		(8.7)	%		(8.5)	%
Other		(2.3)	%		0.5	%		(3.3)	%		0.7	%
Prior periods income tax adjustment per income tax return filed		(2.2)	%		2.9	%		(3.1)	%		-	%
Effect of tax rate change on deferred tax items		-	%		-	%		-	%		-	%
Valuation allowance on US NOL		1.0	%		1.8	%		0.6	%		1.5	%
Tax per financial statements		13.0	%		25.1	%		10.4	%		23.4	%

Provision for Income Tax Expenses

The provision for income taxes expense for the six and three months ended June 30, 2015 and 2014 consisted of the following:

	Six Months				Three Months
	2015		2014		2015		2014
Income tax expense – current	$	3,735,946	$	1,767,633	$	2,863,502	$	878,386
Income tax expense (benefit) - deferred		(1,436,483)		1,471,536		(1,561,991)		1,123,254
Total income tax expense	$	2,299,463	$	3,239,169	$	1,301,511	$	2,001,640