INCOME TAX (CREDITS) EXPENSES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Credits Expenses

SCHEDULE OF INCOME TAX PROVISION

The income tax provision consists of the following components: 

	2023			2022		2021
	USD			USD		USD
Current tax		29,186			431,925		622,963
(Over) under-provision of tax in prior years		(72,040	)		-		5,290
Total		(42,854	)		431,925		628,253

SCHEDULE OF INCOME TAX (CREDITS) EXPENSES RECONCILED TO (LOSS) PROFIT BEFORE INCOME TAX

The income tax (credits) expenses for the years can be reconciled to the (loss) profit before income tax per the consolidated statement of profit or loss as follows: 

	2023			2022			2021
	USD			USD			USD
(Loss) profit before income tax		(11,976,182	)		5,210,820			1,960,543
Tax at the respective income tax rates		(1,418,569	)		847,763			623,576
Tax effect of expenses not deductible for tax purpose		1,683,289			649,932			3,802,565
Tax effect of income not taxable for tax purpose		(235,534	)		(850,911	)		(4,037,252	)
Tax effect of tax losses not recognized		-			-			288,070
Utilization of tax losses previously not recognized		-			(214,859	)		(128,876	)
(Over) under-provision in respect of prior years		(72,040	)		-			5,290
Others		-			-			74,880
Total		(42,854	)		431,925			628,253