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Income Taxes (Tables) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Mar. 31, 2020 | Dec. 31, 2019
Income Tax Disclosure [Abstract] |  |
Schedule of Components of Income/(Loss) Before Income Tax | The United States and foreign components of income (loss) before income taxes were comprised of the following:
|  | For the three months ended |
|  | March 31, 2020 |  |  | March 31, 2019 |
|  | (Unaudited) |  |  | (Unaudited) |
Tax jurisdictions from: |  |  |  |  |  |  |  |
- Local |  | $ | (142,419 | ) |  | $ | (14,724 | )
- Foreign - Labuan |  |  | (55,587 | ) |  |  | 59,674 |
- Foreign - Hong Kong |  |  | (33,744 | ) |  |  | 19,300 |
Income (Loss) before income tax |  | $ | (231,750 | ) |  | $ | 64,250 |
| The United States and foreign components of income (loss) before income taxes were comprised of the following:
|  | For the six months ended |  |  | For the years ended |
|  | December 31, 2019 |  |  | December 31, 2018 |  |  | June 30, 2019 |  |  | June 30, 2018 |
|  |  |  |  | (Unaudited) |  |  |  |  |  |  |
Tax jurisdictions from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Local |  | $ | (279,476 | ) |  | $ | (33,977 | ) |  | $ | (76,309 | ) |  | $ | (261,918 | )
- Foreign - Labuan |  |  | (4,174 | ) |  |  | (45,576 | ) |  |  | (2,777 | ) |  |  | 134,806 |
- Foreign – Hong Kong |  |  | (55,281 | ) |  |  | (55,928 | ) |  |  | (440,556 | ) |  |  | 2,172 |
Loss before income tax |  | $ | (338,931 | ) |  | $ | (135,481 | ) |  | $ | (519,642 | ) |  | $ | (124,940 | )
Schedule of Provision for Income Tax | The benefit for income taxes consisted of the following:
|  | For the three months ended |
|  | March 31, 2020 |  |  | March 31, 2019 |
|  | (Unaudited) |  |  | (Unaudited) |
Current: |  |  |  |  |  |  |  |
- Local |  | $ | - |  |  | $ | - |
- Foreign |  |  | - |  |  |  | (6,965 | )
Deferred: |  |  |  |  |  |  |  |
- Local |  |  | - |  |  |  | - |
- Foreign |  |  | - |  |  |  | - |
Benefit for income taxes |  | $ | - |  |  | $ | (6,965 | )
| The provision for income taxes consisted of the following:
|  | For the six months ended |  |  | For the years ended |
|  | December 31, 2019 |  |  | December 31, 2018 |  |  | June 30, 2019 |  |  | June 30, 2018 |
|  |  |  |  | (Unaudited) |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |  |  |  |
- Local |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
- Foreign |  |  | - |  |  |  | 6,965 |  |  |  | - |  |  |  | 5,334 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Local |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Foreign |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Income tax expense |  | $ | - |  |  | $ | 6.965 |  |  | $ | - |  |  | $ | 5,334 |
Schedule of Effective Income Tax Rate | The following table reconciles the local (United States) statutory rates to the Company’s effective tax rate for the periods indicated below:
|  | For the three months ended |
|  | March 31, 2020 |  |  | March 31, 2019 |
|  | (Unaudited) |  |  | (Unaudited) |
U.S. statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
Valuation allowance |  |  | (21.0 | )% |  |  | (21.0 | )%
Permanent difference (1) |  |  | 0.0 | % |  |  | (10.8 | )%
Effective tax rate |  |  | 0.0 | % |  |  | (10.8 | )%
(1) This was related to disallowed expenditure incurred in the ordinary course of business. | The following table reconciles the local (United States) statutory rates to the Company’s effective tax rate for the periods indicated below:
|  | For the six months ended |  |  | For the years ended |
|  | December 31, 2019 |  |  | December 31, 2018 |  |  | June 30, 2019 |  |  | June 30, 2018 |
|  |  |  |  | (Unaudited) |  |  |  |  |  |  |
U.S. statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
Valuation allowance |  |  | (21.0 | )% |  |  | (21.0 | )% |  |  | (21.0 | )% |  |  | (21.0 | )%
Permanent difference (1) |  |  | 0.0 | % |  |  | (5.1 | )% |  |  | 0.0 | % |  |  | (4.3 | )%
Effective tax rate |  |  | 0.0 | % |  |  | (5.1 | )% |  |  | 0.0 | % |  |  | (4.3 | )%
Schedule of Deferred Tax Assets | The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of:
|  | As of March 31, 2020 |  |  | As of December 31, 2019 |
|  | (Unaudited) |  |  |  |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carry forwards in U.S. |  | $ | 73,318 |  |  | $ | 43,410 |
Less: valuation allowance |  |  | (73,318 | ) |  |  | (43,410 | )
Deferred tax assets |  | $ | - |  |  | $ | - |
| The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of:
|  | As of December 31, 2019 |  |  | As of June 30, 2019 |  |  | As of December 31, 2018 |
|  |  |  |  |  |  |  | (Unaudited) |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |
Net operating loss carry forwards in U.S. |  | $ | 150,759 |  |  | $ | 92,069 |  |  | $ | 82,970 |
Less: valuation allowance |  |  | (150,759 | ) |  |  | (92,069 | ) |  |  | (82,970 | )
Deferred tax asset |  | $ | - |  |  | $ | - |  |  | $ | - |

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