INCOME TAXES

12 Months Ended

Dec. 31, 2019

INCOME TAXES

NOTE 7 - INCOME TAXES

Provision for income taxes consisted of the following:

United States of America

The Company is registered in the State of Wyoming and is subject to the tax laws of the United States of America.

Malaysia

Bionexus Gens Lab Sdn Bhd are subject to Malaysia Corporate Tax, which is charged at the statutory income tax rate 24% on its assessable income.

	Asof
	December 31,			December 31,
	2019				2018
Tax Recoverable
Local	$	-		$	-
Foreign, representing:
Malaysia		(2,858	)		-
Tax Recoverable		(2,858	)		0
Income tax liabilities:
Local	$	-		$	-
Foreign, representing:
Malaysia		-			32,616
Income tax liabilities		0			32,616
Deferred tax liabilities:
Plant and equipment
Local	$	-		$	-
Foreign, representing:
Malaysia		-			4,485
Deferred tax liabilities		0			4,485
Total		(2,858	)		37,101