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Tax (Tables)
12 Months Ended
Dec. 31, 2020
Tax  
Schedule of income tax expense

 

 

December 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Current income tax

 

$

18,669

 

 

$

10,712

 

Deferred tax expense

 

 

-

 

 

 

-

 

Income tax expense

 

 

18,669

 

 

 

10,712

 

Summary of reconciliation between the statutory EIT

   

 

December 31,

 

 

December 31,

 

 

2020

 

 

2019

 

Income before income taxes

$

122,316

 

 

$

410,212

Tax rate

 

25

%

 

 

25

%

Provision for income taxes at the statutory tax rate

 

30,579

 

 

 

102,553

Change in valuation allowance

 

(25,431

)

 

 

(64,378

)

US GAAP adjustment

 

(61,093

)

 

 

(300,485

)

Permanent difference

 

74,542

 

 

 

271,110

 

Effect of different local tax rates

 

73

 

 

 

1,912

 

Income tax expense

$

18,669

 

 

$

10,712 

 

       

Schedule of Deferred tax assets

 

 

December 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Deferred tax asset

 

 

103,237

 

 

$

71,413

 

Valuation allowance

 

 

(103,237

)

 

 

(71,413

)

Net deferred tax asset

 

 

-

 

 

 

-