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INCOME TAXES (Tables)
12 Months Ended
Jun. 30, 2022
INCOME TAXES  
Reconciliation of income tax rate

 

 

Years ended June 30,

 

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

Loss before income taxes

 

$(120,425)

 

$(43,818 )

Statutory income tax rate

 

 

16.5%

 

 

16.5%

Income tax impact at the statutory rate

 

 

(19,870)

 

 

(7,230 )

Non-deductible items

 

 

26,708

 

 

 

37

 

Non-taxable item

 

 

(85 )

 

 

-

 

Deductible items

 

 

(27 )

 

 

(1,519 )

Net operating loss

 

 

(6,726)

 

 

8,712

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

$-

 

 

$-

 

Schedule of net deferred tax assets

 

 

As of June 30,

 

 

 

2022

 

 

2021

 

Deferred tax assets:

 

 

 

 

 

 

Net operating loss carryforward from:

 

 

 

 

 

 

– United States of America

 

$222,065

 

 

$160,892

 

– Hong Kong

 

 

62,137

 

 

 

26,632

 

– The PRC

 

 

7,702

 

 

 

7,424

 

Total deferred tax assets

 

 

291,904

 

 

 

194,948

 

Less: valuation allowance

 

 

(291,904 )

 

 

(194,948 )

Net deferred tax assets

 

$-

 

 

$-