XML 56 R36.htm IDEA: XBRL DOCUMENT v3.25.3
Taxes Payable (Tables)
 12 Months Ended
Jun. 30, 2025
Taxes Payable [Abstract]  
Schedule of Income Taxes and Related Payables

Taxes payable consisted of the following:

 

   June 30,   June 30, 
   2025   2024 
VAT provision  $(918,464)  $(692,476)
Income tax payable   (2,160,101)   (2,127,759)
Other levies   596,866    590,875 
Repatriation tax   29,010,535    29,010,535 
Total  $26,528,836   $26,781,175 
Schedule of Provisions for Income Taxes

The provision for income taxes consists of the following:

 

   Years Ended
June 30,		 
   2025   2024 
Current tax – foreign  $(49,835)  $(410,651)
Total  $(49,835)  $(410,651)
Schedule of Deferred Tax Assets

Significant components of deferred tax assets were as follows:

 

   June 30,   June 30, 
   2025   2024 
Deferred tax assets        
Deferred Tax Benefit   33,344,920    32,804,190 
Valuation allowance   (32,786,614)   (32,295,718)
Total deferred tax assets  $558,306   $508,471 
Schedule of Effective Income Tax Rate Reconciliation Actual income tax benefit reported in the consolidated statements of operations and comprehensive income differ from the amounts computed by applying the US statutory income tax rate of 21.0% and 21.0% to income before income taxes for the years ended June 30, 2025 and 2024 for the following reasons:
   China
15% - 25%		   United States
21%		   Total 
                         
Pretax loss  $(11,710,251)        (3,941,744)       $(15,651,995)     
                               
Expected income tax expense (benefit)   (2,927,563)   25.0%   (827,766)   21.0%   (3,755,329)     
High-tech income benefits on Jinong   
-
    
-
    
-
    
-
    
-
      
Loss from subsidiaries in which no benefit is recognized   2,877,728    (24.6)%   
-
    
-
    2,877,728      
Change in valuation allowance on deferred tax assets from US tax benefit   
-
    
-
    827,766    (21.0)%   827,766      
Actual tax expense  $(49,835)   0.4%  $
-
    
-
%  $(49,835)   0.3%
   China
15% - 25%		   United States
21%		   Total 
                         
Pretax loss  $(24,961,034)        (3,854,932)       $(28,815,966)     
                               
Expected income tax expense (benefit)   (6,240,258)   25.0%   (809,536)   21.0%   (7,049,794)     
High-tech income benefits on Jinong   
-
    
-
    
-
    
-
    
-
      
Loss from subsidiaries in which no benefit is recognized   5,829,607    (23.4)%   
-
    
-
    5,829,607      
Change in valuation allowance on deferred tax assets from US tax benefit   
-
    
-
    809,536    (21.0)%   809,536      
Actual tax expense  $(410,651)   1.6%  $
-
    
-
%  $(410,651)   1.4%