Note 10 - Income Taxes

6 Months Ended

Jun. 30, 2015

Notes

Note 10 - Income Taxes

Note 10 – Income Taxes

The Company's effective tax rate for the six months ended June 30, 2015 and 2014 -10.82% and -6.02%, respectively.  The provisions for income taxes for the periods ended June 30, 2015 and 2014 are summarized as follows:

		Six Months Ended
		June 30, 2015		June 30, 2015
Hong Kong only:
Current	$	31,467	$	30,890
Deferred		-		-
	$	31,467	$	30,890

A reconciliation between the income tax computed at the U.S. statutory rate and the Company’s provision for income tax is as follows:

	Six Months Ended
	June 30, 2015	June 30, 2015
U.S. statutory rate	34.00%	34.00%
Foreign income not recognized in the U.S.	-34.00%	-34.00%
Effect of valuation allowance on deferred income tax assets	-27.32%	-22.52%
Hong Kong income tax rate	16.50%	16.50%
Provision for income tax	-10.82%	-6.02%