Income Taxes

9 Months Ended

Apr. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

10. INCOME TAXES

For the Nine Months ended April 30, 2021, the local (United States) and foreign components of income/ (loss) before income taxes were comprised of the following:

	Nine months ended April 30, 2021			Nine months ended April 30, 2020
Tax jurisdictions from:
Local	$	(58,378	)		(330,054	)
Foreign, representing
- Labuan		33,301			(52,157	)
- Hong Kong	$	(194,899	)		(360,579	)
Loss before income tax	$	(219,976	)		(742,790	)

The provision for income taxes consisted of the following:

	Nine months ended April 30, 2021		Nine months ended April 30, 2020
Current:
- Local	$	-	$	-
- Foreign		-		-
Deferred:		-
- Local		-		-
- Foreign		-		-
Income tax expense	$	-	$	-

The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company has subsidiaries that operate in various countries: United States, Hong Kong and Labuan, Malaysia that are subject to taxes in the jurisdictions in which they operate, as follows:

United States of America

The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of April 30, 2021 the operations in the United States of America incurred $58,378 of cumulative net operating losses which can be carried forward indefinitely to offset a maximum of 80% future taxable income. The Company has provided for a full valuation allowance of $12,259 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

Labuan

Under the current laws of the Labuan, Phoenix Plus Corp.is governed under the Labuan Business Activity Act, 1990. The tax charge for such company is based on 3% of net audited profit.

Hong Kong

Phoenix Plus International Limited is subject to Hong Kong Profits Tax, which is charged at the statutory income tax rate of 16.5% on its assessable income.