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SEC Filings

8-K/A
SEVEN STARS CLOUD GROUP, INC. filed this Form 8-K/A on 08/14/2017
Entire Document
 

Wecast Services Group Limited

 

December 31, 2015 and December 31, 2016

 

 

Note 10 –Income tax expense

 

The current and deferred portion of income tax expenses included in the consolidated statements of comprehensive income were as follows:

 

   December 31, 
   2015   2016 
Current income tax expenses   -    - 
Deferred income tax expenses   -    - 
    -    - 

 

Reconciliation between the effective income tax rate and the Hong Kong statutory income tax rate was as follows:

 

   December 31, 
   2015   2016 
Hong Kong statutory tax rate   16.5%   16.5%  
Expenses not deductible for tax purposes   (7.6%)   (0.0%)
Expiration of net operating loss   -    0.1%
Effect of different tax rate of subsidiary operations in other jurisdiction   (4.1%)   (2.2%)
Net loss that does not recognized deferred tax   (4.8%)   (14.5%)
Effective income tax rate   -    - 

 

The accompanying notes are an integral part of these consolidated financial statements” 21