v2.4.0.6
TAXES (Tables)
|
12 Months Ended |
|
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|
|
For the Year Ended
|
|
|
|
December 31,
|
|
|
|
2012
|
|
|
2011
|
|
Current: |
|
|
|
|
|
|
Provision for CIT |
$ |
1,523,735
|
|
$ |
551,060
|
|
Provision for Federal Income Tax |
|
|
|
|
-
|
|
Deferred: |
|
|
|
|
|
|
Provision for CIT |
|
|
|
|
-
|
|
Income tax expense |
$ |
1,523,735
|
|
$ |
551,060
|
|
|
Schedule of Expected Components of Income Tax Expense (Benefit) [Table Text Block] |
|
|
For the Year Ended
|
|
|
|
December 31,
|
|
|
|
2012
|
|
|
2011
|
|
Computed “expected” income (expense) |
$ |
651,245
|
|
$ |
(338,369
|
) |
Favorable tax rate |
|
(1,232,306
|
) |
|
(659,905
|
) |
Permanent differences |
|
932,699
|
|
|
197,821
|
|
Valuation Allowance |
|
1,172,097
|
|
|
1,351,513
|
|
Income tax expense |
$ |
1,523,735
|
|
$ |
551,060
|
|
|
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|
|
December 31,
|
|
|
December 31,
|
|
|
|
2012
|
|
|
2011
|
|
Current portion:
|
|
|
|
|
|
|
Deferred tax assets (liabilities):
|
|
|
|
|
|
|
Expense
|
$ |
(193,777
|
) |
$ |
(11,741
|
) |
Subtotal
|
|
(193,777
|
) |
|
(11,741
|
) |
|
|
|
|
|
|
|
Deferred tax assets (liabilities):
|
|
|
|
|
|
|
Sales cut-off difference derived from Value Added Tax reporting system to calculate PRC Corporation Income Tax in accordance with the PRC State Administration of Taxation
|
|
138,661
|
|
|
(44,621
|
) |
Other
|
|
|
|
|
-
|
|
Subtotal
|
|
138,661
|
|
|
(44,621
|
) |
|
|
|
|
|
|
|
Total deferred tax liabilities – current portion
|
|
(55,166
|
) |
|
(56,362
|
) |
|
|
|
|
|
|
|
Non-current portion:
|
|
|
|
|
|
|
Deferred tax assets:
|
|
|
|
|
|
|
Depreciation
|
|
223,409
|
|
|
226,622
|
|
Loss carried forward
|
|
1,172,097
|
|
|
1,351,513
|
|
Valuation allowance
|
|
(1,172,097
|
) |
|
(1,351,513
|
) |
Subtotal
|
|
223,409
|
|
|
226,622
|
|
|
|
|
|
|
|
|
Deferred tax liabilities:
|
|
|
|
|
|
|
Accumulated other comprehensive gain
|
|
(222,714
|
) |
|
(136,624
|
) |
Subtotal
|
|
(222,714
|
) |
|
(136,624
|
) |
|
|
|
|
|
|
|
Total deferred tax assets – non-current portion
|
|
695
|
|
|
89,998
|
|
|
|
|
|
|
|
|
Net deferred tax (liabilities) assets
|
$ |
(54,471
|
) |
$ |
33,636
|
|
|
Summary of Income Tax Holiday [Table Text Block] |
|
|
For the Year Ended
|
|
|
|
December 31
|
|
|
|
2012
|
|
|
2011
|
|
Tax holiday effect |
$ |
1,232,306
|
|
$ |
659,905
|
|
Basic net income per share effect |
$ |
0.04
|
|
$ |
0.02
|
|
|
X |
- Definition
Schedule of Expected Components of Income Tax Expense (Benefit)
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- Definition
Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.
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- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.
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- Definition
Tabular disclosure of the income tax exemptions and reductions which have been granted by taxing authorities for a specified period, applicable term of the exemptions and reductions, estimated dollar value of tax benefits, and per share benefits.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 11.C)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330215-122817
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 25
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6969291&loc=d3e28937-109314
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 11
-Section C
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