INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

SCHEDULE OF COMPONENTS OF INCOME TAX BENEFIT

Components of income tax expense was as follows:

	Year Ended December 31,
	2023		2022
Current income taxes:
Federal	$	-	$	-
State		5,346		34,046
Foreign		289,587		160,923
Total current income taxes	$	294,933	$	194,969

Deferred provision (benefit) for income taxes:
Federal	$	(6,387,240	)	$	-
State Deferred UTP		41,326
Total deferred income taxes		(6,345,914	)
Income tax expense (benefit)	$	(6,050,981	)	$	194,969

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

The non-current deferred tax assets and liabilities consist of the following:

	December 31,
	2023			2022
Deferred tax assets:
263A adjustment	$	28,514		$	23,274
Accrued expenses		132,745			140,900
Prepaid expenses					(54,589	)
Stock compensation		179,723			180,753
Stock option		4,618			69,306
Amortization of intangibles		1,938,657			2,246,861
Net operating loss		2,326,992			2,509,855
Allowances		1,383,247			1,509,508
Sale-leaseback – lease liability		850,804			919,766
ROU Assets		95,048			-
Grant Income		142,227			150,964
Other Depreciation on fixed assets		196,305			-
-Others		20,187			20,512
Total deferred tax assets		7,299,067			7,717,110
Deferred tax liabilities:
Depreciation on sale-leaseback fixed assets		(756,823	)		(836,027	)
Depreciation on fixed assets					134,483	)
Prepaid expense		(59,956	)		-
ROU Liability		(95,048	)		-
Total deferred tax liabilities		(911,827	)		(701,544	)
Net deferred tax assets		6,387,240			7,015,566
Less: Valuation Allowance		-			(7,015,566	)
Total deferred tax assets, net	$	6,387,240		$	-

SCHEDULE OF STATUTORY TAX EXPENSE

The Company’s tax (benefit) expense differs from the statutory tax expense for the years ended December 31, 2023 and 2022 and the reconciliation is as follows:

	Year Ended December 31,
	2023			2022
Tax expense (benefit) at federal statutory rate	$	290,863		$	267,604
State income taxes		4,223			26,896
Foreign income taxes		228,774			127,129
Permanent differences		(61,350	)		(46,609	)
Change in valuation allowance		(628,326	)		(780,662	)
Other - State rate effect		563			11,704
Change in tax rate		406,461			586,430
FIN 48 – Adjustment item		41,326			-
Valuation allowance		(6,387,240	)		-
Other		53,725			2,477
Provision (benefit) for income taxes	$	(6,050,981	)	$	194,969