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INCOME TAX (Tables) - Seamless Group Inc [Member] | 12 Months Ended
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Dec. 31, 2022
SCHEDULE OF INCOME BEFORE INCOME TAX | The Company’s loss before income tax consists of: SCHEDULE OF INCOME BEFORE INCOME TAX
|  | 2021 |  |  | 2021 |
|  | Years ended December 31, |
|  | 2021 |  |  | 2021 |
|  | US$ |  |  | US$ |
Malaysia |  |  | 1,606,867 |  |  |  | 4,235,091 |
Indonesia |  |  | 1,609,362 |  |  |  | 561,712 |
Hong Kong |  |  | (18,818,064 | ) |  |  | (17,250,286 | )
Others |  |  | (10,096 | ) |  |  | 321,886 |
Loss before income tax |  |  | (15,611,931 | ) |  |  | (12,131,597 | )
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE | Income tax expense consists of: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE
|  | 2022 |  |  | 2021 |
|  | Years ended December 31, |
|  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |
Income tax expense |  |  | 507,740 |  |  |  | 1,123,437 |
Deferred income tax benefit |  |  | (393,958 | ) |  |  | (369,734 | )
Income tax expense benefit |  |  | 113,782 |  |  |  | 753,703 |
SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION | A reconciliation of the income tax expense to the amount computed by applying the current statutory tax rate to the income before income tax in the consolidated statements of operations and comprehensive loss is as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION
|  | 2022 |  |  | 2021 |
|  | Years ended December 31, |
|  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |
Income before income tax |  |  | (15,611,931 | ) |  |  | (12,131,597 | )
Tax calculated at Hong Kong profits tax rate |  |  | (2,576,217 | ) |  |  | (2,001,717 | )
Effect of different tax rates applicable to different jurisdictions |  |  | 2,244,573 |  |  |  | 2,227,715 |
Income not subject to tax |  |  | (567,161 | ) |  |  | (291,197 | )
Non-deductible expenses |  |  | 658,533 |  |  |  | 212,759 |
Change in valuation allowance |  |  | 245,220 |  |  |  | 318,215 |
Underprovision of current tax in the previous financial year |  |  | 48,182 |  |  |  | 228,936 |
Tax effect on deductible temporary differences |  |  | 46,624 |  |  |  | 58,992 |
Others |  |  | 14,028 |  |  |  | — |
Income tax |  |  | 113,782 |  |  |  | 753,703 |
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES | The Company’s deferred tax assets and liabilities as of December 31, 2022 and 2021 are attributable to the following: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES
|  | 2022 |  |  | 2021 |
|  | December 31, |
|  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |
Deferred tax assets |  |  |  |  |  |  |  |
Tax losses carried forward |  |  | 7,526,178 |  |  |  | 6,341,531 |
Equipment |  |  | (90,113 | ) |  |  | (85,534 | )
Accrued expenses |  |  | 354,988 |  |  |  | 189,163 |
Others |  |  | 39,290 |  |  |  | — |
Deferred tax gross |  |  | 7,830,343 |  |  |  | 6,445,160 |
Valuation allowance |  |  | (7,061,726 | ) |  |  | (6,339,009 | )
Total deferred tax assets |  |  | 768,617 |  |  |  | 106,151 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Fixed assets |  |  | — |  |  |  | — |
Intangible assets |  |  | (1,554,721 | ) |  |  | (1,924,455 | )
Others |  |  | (61,622 | ) |  |  | (61,622 | )
Total deferred tax liabilities |  |  | (1,616,343 | ) |  |  | (1,986,077 | )
Net deferred tax liabilities |  |  | (847,727 | ) |  |  | (1,879,926 | )

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
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