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Taxes (Tables) | 12 Months Ended
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Sep. 30, 2023
Taxes [Abstract] |
Schedule of Pre-Tax Income (loss) is Derived | The Company’s pre-tax income (loss) is derived from the following tax jurisdictions:
|  | For the years ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |  |  | US$ |
PRC |  | $ | 8,637,772 |  |  | $ | (180,032 | ) |  | $ | 1,424,159 |
HK |  |  | (30 | ) |  |  | (2,136 | ) |  |  | — |
Cayman |  |  | (988,396 | ) |  |  | (83,073 | ) |  |  | — |
Income (loss) before income taxes |  | $ | 7,649,346 |  |  | $ | (265,241 | ) |  | $ | 1,424,159 |
Schedule of Provision for Income Tax | The provision for income tax consisted of the following:
|  | For the years ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | US$ |  |  | US$ |  |  | US$ |
Current income tax expense |  | $ | 1,098,087 |  |  | $ | — |  |  | $ | 9,992 |
Deferred income tax benefit |  |  | — |  |  |  | — |  |  |  | — |
Income tax provision |  | $ | 1,098,087 |  |  | $ | — |  |  | $ | 9,992 |
Schedule of Reconciles the Statutory Rate | The following table reconciles the statutory rate to the Company’s effective tax rate:
|  | For the Years Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
PRC statutory tax rate |  |  | 25.0 | % |  |  | 25.0 | % |  |  | 25.0 | %
Effect of tax holiday and preferential tax rate (a) |  |  | (14.2 | )% |  |  | (11.6 | )% |  |  | (21.0 | )%
Effect of tax rate in a foreign jurisdiction |  |  | 3.2 | % |  |  | (7.8 | )% |  |  | — | %
Additional deduction for R&D expenses |  |  | (1.0 | )% |  |  |  |  |  |  |  |
Non-deductible expenses |  |  | 0.1 | % |  |  | (10.6 | )% |  |  | 2.8 | %
Operating income offset loss carryforward |  |  | — | % |  |  | — | % |  |  | — | %
Change of tax rate |  |  | — | % |  |  | — | % |  |  | — | %
Change in valuation allowance |  |  | 1.2 | % |  |  | 5.0 | % |  |  | (6.1 | )%
Effective tax rate |  |  | 14.3 | % |  |  | (0.0 | )% |  |  | 0.7 | %
(a) | The Company’s subsidiaries, Global Mofy China, Kashi Mofy, Shanghai Mofy, Xi’an Mofy and Beijing Mofy are subject to different favorable tax rates and tax holiday for the years ended September 30, 2023 and 2022. For the years ended September 30, 2023 and 2022, as for the years ended September 30, 2022 is a negative amount, there is not a tax saving, the tax saving as the result of the favorable tax rate and tax holiday amounted to $1,086,519 and $nil, respectively, and per share effect of the favorable tax rate (after stock split and share reorganization) were $0.04 and $0.00, respectively.
Schedule of Components of Deferred Tax Assets and Liabilities | Components of deferred tax assets and liabilities were as follows:
|  | As of September 30, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Provision for doubtful debt |  | $ | 110,374 |  |  | $ | 773 |
Tax loss carry forwards |  |  | 70,341 |  |  |  | 75,595 |
Operating lease liabilities |  |  | 133,489 |  |  |  | — |
Total deferred tax assets |  |  | 314,204 |  |  |  | 76,368 |
Less: Valuation allowance |  |  | (162,974 | ) |  |  | (76,368 | )
Total deferred tax assets, net of valuation allowance |  | $ | 151,230 |  |  | $ | — |
Schedule of Net Operating Loss Carry Forward | As of September 30, 2023, the Company has total of net operating loss carry forward of approximately $0.4 million in the PRC that expire from 2025 through 2028.
|  | As of September 30, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Right of use assets |  | $ | 151,230 |  |  | $ | — |
Total deferred tax liabilities |  |  | 151,230 |  |  |  | — |
Total deferred tax assets, net |  | $ | — |  |  | $ | — |
Schedule of Valuation Allowance of Deferred Tax Assets | The roll forward of valuation allowance of deferred tax assets were as follows:
|  | As of September 30, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Balance as of beginning of year |  | $ | (76,368 | ) |  | $ | (97,933 | )
Additions of valuation allowance |  |  | (134,811 | ) |  |  | 21,565 |
Reductions of valuation allowance |  |  | 43,249 |  |  |  | — |
Exchange difference |  |  | 4,956 |  |  |  | — |
Balance as of end of year |  | $ | (162,974 | ) |  | $ | (76,368 | )
Schedule of Unrecognized Tax Benefit | A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows:
|  | As of September 30, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Balance as of beginning of year |  | $ | — |  |  | $ | — |
Increase related to prior year tax positions |  |  | 5,639 |  |  |  | — |
Increase related to current year tax positions |  |  | 1,061,310 |  |  |  | — |
Balance as of end of year |  | $ | 1,066,949 |  |  | $ | — |
Schedule of Tax Payable | The tax payable consisted of the following:
|  | As of September 30, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
VAT payable |  | $ | 487,744 |  |  | $ | 468,586 |
Corporate income tax payable |  |  | 1,066,949 |  |  |  | 5,784 |
Other tax |  |  | 366 |  |  |  | — |
Tax payable |  | $ | 1,555,059 |  |  | $ | 474,370 |

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