XML 137 R75.htm IDEA: XBRL DOCUMENT

INCOME TAX EXPENSE (Tables)

12 Months Ended

Dec. 31, 2024

Notes and other explanatory information [abstract]

SCHEDULE OF PROVISION FOR INCOME TAXES PROVISIONS (BENEFITS)

The provision for income taxes consists of the following provisions (benefits):

	2024			2023			2022
	Years ended December 31,
	2024			2023			2022
Current tax:
Current tax on profits for the year	$	28,783		$	32,115			220,570
Under provision in prior year		800			-			-
Total Current tax		29,583			32,115			220,570
Deferred income tax:
(Increase) decrease in deferred tax assets		2,329,636			-			29,240
Decrease in deferred tax liabilities		(4,611,291	)		(1,110,801	)		(1,313,406	)
Deferred income tax		(2,281,655	)		(1,110,801	)		(1,284,166	)
Benefit from income taxes	$	(2,252,072	)	$	(1,078,686	)		(1,063,596	)

The provision for income taxes by country consists of the following provisions (benefits):

December 31, 2024	INDONESIA			NEW ZEALAND			SINGAPORE		SOUTH AFRICA		UK			USA			CONSOLIDATED

Current Expense
State															1,600			1,600
Foreign	$	-		$	-		$	-	$	-	$	27,983		$	-		$	27,983
Total Current Tax Expense		-			-			-		-		27,983			1,600			29,583

Deferred Expense
Federal		-			-			-		-		-			(815,670	)		(815,670	)
State		-			-			-		-		-			(202,283	)		(202,283	)
Foreign		(170,311	)		(412,208	)		-		39,745		(641,438	)		-			(1,263,702	)
Total Deferred Tax Expense		(170,311	)		(412,208	)		-		39,745		(641,438	)		(1,017,953	)		(2,281,655	)

(Benefit from) Provision for Income Taxes	$	(170,311	)	$	(412,208	)	$	-	$	39,745	$	(613,455	)	$	(1,016,353	)	$	(2,252,072	)

December 31, 2023	INDONESIA		NEW ZEALAND			SINGAPORE		SOUTH AFRICA			UK			USA			CONSOLIDATED

Current Expense
State															200			200
Foreign	$	-	$	(6,050	)	$	-	$	(2,802	)	$	40,767		$	-		$	31,915
Total Current Tax Expense		-		(6,050	)		-		(2,802	)		40,767			200			32,115

Deferred Expense
Federal		-		-			-		-			-			(706,102	)		(706,102	)
State		-		-			-		-			-			(131,487	)		(131,487	)
Foreign		-		(83,410	)		-		11,044			(200,846	)		-			(273,212	)
Total Deferred Tax Expense		-		(83,410	)		-		11,044			(200,847	)		(837,589	)		(1,110,801	)

(Benefit from) Provision for Income Taxes	$	-	$	(89,460	)	$	-	$	8,242		$	(160,079	)	$	(837,389	)	$	(1,078,686	)

SCHEDULE OF RECONCILIATION OF INCOME TAXES AT THE STATUTORY RATE

The reconciliation of income taxes at the statutory rate of Singapore to the effective tax rates for the years ended December 31, 2024, 2023 and 2022 is as follows:

	2024			2023			2022
	Year ended December 31,
	2024			2023			2022
Loss from continuing operations before provision for income taxes	$	(27,191,894	)	$	(6,208,871	)		(56,315,143	)
Tax at the Singapore rate of 17%		(4,622,622	)		(1,055,508	)		(9,573,574	)
Reconciling items:
Permanent differences		297,800			(2,380,272	)		5,867,054
Current period net operating losses not recognised as a deferred tax asset		6,187,916			1,600,731			3,019,483
Rate differential – non-Singapore entities		(661,038	)		(183,113	)		(736,092	)
Other deferred tax activity		(169,511	)		939,476			359,533
Over provision in prior year		(3,284,617	)		-			-
Benefit from income taxes	$	(2,252,072	)	$	(1,078,686	)		(1,063,596	)