INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

SCHEDULE OF COMPONENTS OF INCOME TAX PROVISION

The components of the income tax provision are as follows:

	2023		2022
Current:
– United States of America	$	31,761	$	(41,444	)
– Seychelles
– Hong Kong				-
– The PRC		64,684		227,924
Deferred
– United States of America		-		-
– Seychelles		-		-
– Hong Kong		-		-
– The PRC		-		-
Total	$	96,445	$	186,480

SCHEDULE OF UNITED STATES AND FOREIGN INCOME LOSS BEFORE INCOME TAXES

A summary of United States and foreign income (loss) before income taxes was composed of the following:

	2023			2022
Income (loss) attributed to PRC operations	$	(3,501,303	)	$	(766,083	)
Loss attributed to Seychelles and Hong Kong		(160	)		(19	)
Loss attributed to U.S.		(673,291	)		(1,204,097	)
Income (loss) before tax	$	(4,271,199	)	$	(1,970,199	)

SCHEDULE OF EFFECTIVE INCOME TAX RATE

The difference between the U.S. federal statutory income tax rate and the Company’s effective tax rate was as follows for the years ended December 31, 2023 and 2022:

	2023			2022
U.S. federal statutory income tax rate		21.0	%		21.0	%
Income tax difference under different tax jurisdictions		-0.3	%		-9.3	%
PRC tax exemption for qualified small-scale and low-profit enterprises		6.2	%		52.5	%
Valuation allowance on deferred income tax assets		0.9	%		-3.1	%
Amortization and impairment loss not deductible for tax purposes		15.5	%		-28.2	%
Expenses not deductible for tax purpose		-16.3	%		-27.3	%
Impact of GILTI		-1.6	%		-10.7	%
Others		-0.2	%		-4.4	%
The Company’s effective tax rate		25.2	%		-9.5	%

SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS

The significant components of deferred taxes of the Company are as follows:

	As of
	December 31, 2023			December 31, 2022
Deferred tax assets:
Net operating loss carry forwards	$	-		$	-
-United States		-			-
-Hong Kong		-			-
-PRC		39,207			61,762
Gross deferred tax assets		39,207			61,762
Less: valuation allowance		(39,207	)		(61,762	)
Total deferred tax assets, net	$	-		$	-