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INCOME TAX (Tables)
6 Months Ended
Jun. 30, 2021
INCOME TAX  
Schedule of provision for income tax

 

 

Six months ended June 30,

 

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

Current tax

 

$10,066

 

 

$-

 

Deferred tax

 

 

(638)

 

 

(638)

 

 

 

 

 

 

 

 

 

Income tax expense

 

$9,428

 

 

$(638)
Schedule of income tax rate

 

 

Six months ended June 30,

 

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

Income before income taxes

 

$122,292

 

 

$43,352

 

Statutory income tax rate

 

 

16.5%

 

 

16.5%

Income tax expense at statutory rate

 

 

20,178

 

 

 

7,153

 

Tax effect of non-deductible items

 

 

638

 

 

 

106

 

Tax effect of tax holiday

 

 

(10,750)

 

 

(7,259)

Income tax expense

 

$10,066

 

 

$-

 

Schedule of Deferred Tax Liabilities

 

 

June 30,

2021

 

 

December 31,

2020

 

Deferred tax liabilities:

 

 

 

 

 

 

Accelerated depreciation

 

$(4,037)

 

$(4,682)