INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2021

INCOME TAXES

Schedule of components of loss before income taxes

(a)    The local (United States) and foreign components of loss before income taxes were comprised of the following:

	For three months ended 31,
	2021		2020
Tax jurisdictions from:
-    Local	$	(124,017)	$	(119,511)
-    Foreign, representing:
BVI		(42,153)		(70,545)
HK		—		—
Thailand		(199,573)		(378,403)
Loss before income taxes	$	(365,743)	$	(568,459)

Schedule of corporate income tax rate

Net profit
Nil – THB300,000 ($9,600)	0	%
THB300,000 – THB3,000,000 ($96,000)	15	%
Over THB3,000,000 ($96,000)	20	%

Schedule of reconciliation of loss before income taxes

A reconciliation of loss before income taxes to the effective tax rate as follows:

	For three months ended March 31,
	2021			2020
Loss before income taxes	$	(365,743)		$	(568,459)
Statutory income tax rate %		21	%		21	%
Income tax credit computed at statutory income tax rate		(76,806)			(119,376)
Reconciling items:
Non-deductible expenses		5,425			29,713
Tax effect of tax exempt entity		8,852			14,815
Rate differential in different tax jurisdictions		1,996			3,784
Valuation allowance on deferred tax assets		60,533			71,064
Total tax expenses	$	—		$	—

Schedule of deferred tax assets and liabilities

(b)   The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities as of March 31, 2021 and December 31, 2020 are presented below

	March 31, 2021		December 31, 2020
Deferred tax assets:
Net operating loss carryforwards:
- United States of America	$	243,283	$	217,239
- Thailand		292,898		270,077
		536,181		487,316
Less: Valuation allowance		(536,181)		(487,316)
	$	—	$	—