Income Taxes

12 Months Ended

Jun. 30, 2024

Income Taxes [Abstract]

INCOME TAXES

12. INCOME TAXES

The Company is subject to income taxes on an entity basis on income arising in or derived from the tax jurisdiction in which each entity is domiciled.

United State

Cambell International s incorporated in the State of Nevada and is subject to the U.S. federal tax. The federal corporate income tax rate is 21%. Corporate entities are required to file state income taxes in accordance with the applicable state corporate income regulations.

British Virgin Islands

Win&win Industrial are incorporated in the British Virgin Islands and not subject to tax on income or capital gains under current British Virgin Islands law. In addition, upon payments of dividends by these entities to their shareholders, no British Virgin Islands withholding tax will be imposed.

Hong Kong

BJK Holding Group was incorporated in Hong Kong and is subject to the Hong Kong profits tax rate at 16.5%.

PRC

Under the Enterprise Income Tax (“EIT”) Law, which has been effective since January 1, 2008, domestic enterprises and foreign invested enterprises (the “FIEs”) are subject to a unified 25% enterprise income tax rate, except for certain entities that are entitled to tax holidays.

For the years ended June 30, 2024 and 2023, a reconciliation of the income tax expense (benefit) determined at the statutory income tax rate to the Company’s income taxes is as follows:

	For the years ended June 30,
	2024			2023
Loss before income taxes	$	(683,997	)	$	(1,096,278	)
United States statutory income tax rate		21	%		21	%
Income taxes computed at United States statutory income tax rate		(143,639	)		(230,218	)
Reconciling items:
Non-deductible expenses		748			2,307
Impact of different tax rates in other jurisdictions		(27,360	)		-
Change in valuation allowance		171,238			227,520
Income tax expense (benefit)	$	987		$	(391	)

The Company evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions for the years ended June 30, 2024 and 2023, the Company had no unrecognized tax benefits.

According to PRC tax regulations, the PRC net operating loss can generally carry forward for no longer than five years starting from the year subsequent to the year in which the loss was incurred. Carryback of losses is not permitted. As of June 30, 2024, the Company had net operating losses carry forwards which recorded fully valuation allowance as it is more-likely will not be realized.