China Kangtai Cactus Bio-Tech Inc (fka CKGT)

[GorillaGorilla]

What Income Tax for 2010 - 35%?

I was trying to work out what tax CKGT would be paying in 2010. It says that 2009 would be the last year at 50% income tax reduction. Am I right in saying in 2010 it will be 35% tax?

I working from the fact that the Income tax section begins with the line Expected tax at 35% and then modifies it to roughly half.

Unless someone says otherwise I'm taking my guestimation of 2010 net income before tax and applying 35% tax.

rich


http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6541941-1162-149875&type=sect&dcn=0001144204-09-020579

Note 9. Income Taxes
....
"This economic region allows foreign enterprises a two-year income tax exemption beginning in the first year after they become profitable, being 2005 and 2006 and a 50% income tax reduction for the following three years, being 2007 to 2009. Harbin Hainan Kangda was approved as a wholly owned foreign enterprise in March 2005."
....
Expected tax at 35% $ 2,372,594
....