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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Taxes [Abstract] |
Schedule of Income Tax Provision | The income tax provision consists of the following components:
|  | For the year ended December 31, 2024 |  |  | For the year ended December 31, 2023 |  |  | For the year ended December 31, 2022 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | - |  | $ | - |  | $ | -
State |  |  | - |  |  | - |  |  | -
Foreign |  |  | (335,748 | ) |  |  | 94,947 |  |  |  | 255,805 |
Total current income tax (credit)/expenses, continuing operations |  |  | (335,748 | ) |  |  | 94,947 |  |  |  | 255,805 |
Current income tax expenses, discontinued operations |  |  | - |  |  |  | - |  |  |  | - |
Total current |  | $ | (335,748 | ) |  | $ | 94,947 |  |  | $ | 255,805 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |  |  | $ | - |
State |  |  | - |  |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | - |  |  |  | - |
Total deferred income tax expenses, continuing operations |  |  | - |  |  |  | - |  |  |  | - |
Deferred income tax expenses, discontinued operations |  |  | - |  |  |  | - |  |  |  | - |
Total deferred |  | $ | - |  |  | $ | - |  |  | $ | - |
Total income tax (credit)/expense |  | $ | (335,748 | ) |  | $ | 94,947 |  |  | $ | 255805 |
Schedule of Effective Tax Rate for the Continuing Operations and Discontinued Operations | The effective tax rate for the continuing operations was (5.6)%, (5.90)% and (2.6)% for the years ended December 31, 2024, 2023 and 2022, respectively.
|  | For the year ended December 31, 2024 |  |  | For the year ended December 31, 2023 |  |  | For the year ended December 31, 2022 |
Profit/(Loss) before income tax expense |  | $ | 5,960,767 |  |  | $ | (1,610,047 | ) |  | $ | (9,385,293 | )
Computed tax benefit with statutory tax rate |  |  | 983,527 |  |  |  | (338,110 | ) |  |  | (1,970,912 | )
Over provision of current taxation in respect of prior year |  |  | (350,590 | ) |  |  | - |  |  |  | - |
Impact of different tax rates in other jurisdictions |  |  | (954,146 | ) |  |  | (52,799 | ) |  |  | (96,669 | )
Impact of preferred tax rate |  |  | (14,854 | ) |  |  | - |  |  |  | - |
Changes in valuation allowance |  |  | 315 |  |  |  | 485,856 |  |  |  | 2,323,386 |
Total income tax expense |  | $ | (335,748 | ) |  | $ | 94,947 |  |  | $ | 255,805 |
The effective tax rate for the discontinued operations was 0.0%, 0.0% and 0.0% for the years ended December 31, 2024, 2023 and 2022, respectively.
|  | For the year ended December 31, 2024 |  |  | For the year ended December 31, 2023 |  |  | For the year ended December 31, 2022 |
Loss before income tax expense |  | $ | - |  |  | $ | (21,946 | ) |  | $ | (712,414 | )
Computed tax benefit with statutory tax rate |  |  | - |  |  |  | (4,608 | ) |  |  | (149,606 | )
Impact of different tax rates in other jurisdictions |  |  | - |  |  |  | (988 | ) |  |  | (32,059 | )
Effect of preferred tax rate |  |  | - |  |  |  | 3,621 |  |  |  | 117,548 |
Changes in valuation allowance |  |  | - |  |  |  | 1,975 |  |  |  | 64,117 |
Total income tax expense |  | $ | - |  |  | $ | - |  |  | $ | - |
Schedule of Deferred Tax Assets and Liabilities | The approximate tax effects of temporary differences, which give rise to the deferred tax assets and liabilities are as follows:
|  | As of December 31, |  |  | As of December 31, |
|  | 2024 |  |  | 2023 |
Deferred tax assets |  |  |  |  |  |
Tax loss carried forward |  | $ | 8,192 |  |  | $ | 6,694 |
Provision for impairment loss |  |  | - |  |  |  | - |
Unvested restricted shares |  |  | - |  |  |  | - |
Total deferred tax assets |  |  | 1,720 |  |  |  | 1,405 |
Less: valuation allowance |  |  | (1,720 | ) |  |  | (1,405 | )
Total deferred tax assets, net of valuation allowance |  |  | - |  |  |  | - |
Deferred tax liabilities |  |  |  |  |  |  |  |
Total Deferred tax liabilities |  | $ | - |  |  | $ | - |
Deferred tax assets, net of valuation allowance and deferred tax liabilities |  | $ | - |  |  | $ | - |
Discontinued operations
|  | As of December 31, |  |  | As of December 31, |
|  | 2024 |  |  | 2023 |
Deferred tax assets |  |  |  |  |  |  |  |
Tax loss carried forward |  | $ | - |  |  | $ | - |
Provision for doubtful accounts |  |  | - |  |  |  | - |
PPE, due to difference in depreciation |  |  | `- |  |  |  | - |
Total deferred tax assets |  |  | - |  |  |  | - |
Less: valuation allowance |  |  | - |  |  |  | - |
Total deferred tax assets, net of valuation allowance |  |  | - |  |  |  | - |
Deferred tax liabilities |  |  |  |  |  |  |  |
Total Deferred tax liabilities |  | $ | - |  |  | $ | -
Deferred tax assets, net of valuation allowance and deferred tax liabilities |  | $ | - |  |  | $ | - |
Schedule of Uncertain Tax Positions | The reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions is as follows:
|  |  | December 31, 2024 |  |  |  | December 31, 2023 |
Uncertain tax liabilities, beginning of period, discontinued operations |  | $ | - |  |  | $ | - |
Additions for tax position of current period |  |  | - |  |  |  | - |
Settlements with tax authority during current year |  |  | - |  |  |  | - |
Uncertain tax liabilities, end of period, discontinued operations |  | $ | - |  |  | $ | - |

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