XML 53 R34.htm IDEA: XBRL DOCUMENT v3.20.1
Taxes Payable (Tables)
9 Months Ended
Mar. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of income taxes and related payables
   March 31,   June 30, 
   2020   2019 
VAT provision  $(279,835)  $(424,535)
Income tax payable   700,574    1,550,830 
Other levies   1,196,711    1,220,859 
Total  $1,617,450   $2,347,154 
Schedule of provision for income taxes
   March 31,   June 30, 
   2020   2019 
Current tax - foreign  $1,341,513   $1,654,416 
Deferred tax   -    - 
Total  $1,341,513   $1,654,416 
Schedule of effective income tax rate reconciliation

March 31, 2020

 

   China
15% - 25%
       United States
21%
       Total     
Pretax income (loss)  $(82,037,196)        (1,240,280)       $(83,277,476)    
                               
Expected income tax expense (benefit)   (20,509,299)   25.0%   (260,459)   21.0%   (20,769,758)     
High-tech income benefits on Jinong   2,561,450    (3.1)%   -    -    2,561,450      
Losses from subsidiaries in which no benefit is recognized   19,289,362    (23.5)%   -    -    19,289,362      
Change in valuation allowance on deferred tax asset from US tax benefit   -         260,459    (21.0)%   260,459      
Actual tax expense  $1,341,513    (1.6)%  $-    -%  $1,341,513    (1.6)%

 

March 31, 2019            
             
   China   United States         
   15% - 25%   34%   Total     
                         
Pretax income (loss)  $23,320,275    -    (1,363,166)   -   $21,957,109     
                               
Expected income tax expense (benefit)   5,830,069    25.0%   (286,265)   21.0%   5,543,804      
High-tech income benefits on Jinong   (671,669)   (2.9)%        -    (671,669)     
Losses from subsidiaries in which no benefit is recognized   163,271    0.7%        -    163,271      
Change in valuation allowance on deferred tax asset from US tax benefit   -    -    286,265    (21.0)%   286,265      
Actual tax expense  $5,321,671    22.8%  $-    -%  $5,321,671    24.2%