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Income Taxes (Tables) | 6 Months Ended
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Jun. 30, 2017
Income Tax Disclosure [Abstract] |
Schedule of (Loss) Income Before Income Taxes | The income (loss) before income taxes of the Company for the six months ended June 30, 2017 and 2016 were comprised of the following:
|  | For the six months ended June 30, |
|  | 2017 |  |  | 2016 |
Tax jurisdictions from: |  |  |  |  |  |  |  |
– Local |  | $ | (181,870 | ) |  | $ | (558,820 | )
– Foreign, representing: |  |  |  |  |  |  |  |
BVI |  |  | (97,241 | ) |  |  | (59,714 | )
Belize |  |  | 673,568 |  |  |  | 287,548 |
Anguilla |  |  | (627 | ) |  |  | 5,191 |
Malaysia |  |  | (89,090 | ) |  |  | 13,597 |
Australia |  |  | - |  |  |  | (4,385 | )
Seychelles |  |  | (559 | ) |  |  | - |
Hong Kong |  |  | (104,379 | ) |  |  | 88,751 |
The PRC |  |  | (77,677 | ) |  |  | 360 |
Income (Loss) before income taxes |  | $ | 122,125 |  |  | $ | (227,472 | )
Provision for Income Taxes | Provision for income taxes consisted of the following:
|  | For the six months ended June 30, |
|  | 2017 |  |  | 2016 |
Current: |  |  |  |  |  |  |  |
– Local |  | $ | - |  |  | $ | - |
– Foreign, representing: |  |  |  |  |  |  |  |
BVI |  |  | - |  |  |  | - |
Belize |  |  | - |  |  |  | - |
Anguilla |  |  | - |  |  |  | - |
Hong Kong |  |  | 8,407 |  |  |  | 14,746 |
The PRC |  |  | - |  |  |  | - |
Seychelles |  |  | - |  |  |  | - |
Malaysia |  |  | - |  |  |  | - |
Deferred: |  |  |  |  |  |  |  |
– Local |  |  | - |  |  |  | - |
– Foreign |  |  | - |  |  |  | - |
|  | $ | 8,407 |  |  | $ | 14,746 |
Reconciliation of Income (Loss) Before Income Taxes Effective Tax Rate | A reconciliation of income (loss) before income taxes to the effective tax rate as follows:
|  | For the six months ended June 30, |
|  | 2017 |  |  | 2016 |
Subsidiary with operating income before income tax |  | $ | 83,706 |  |  | $ | 101,681 |
Subsidiaries with loss before income tax |  |  | (188,084 | ) |  |  | (12,930 | )
Net income before income tax |  |  | (104,378 | ) |  |  | 88,751 |
Subsidiary with operating income before income tax |  | $ | 83,706 |  |  | $ | 101,681 |
Statutory income tax rate |  |  | 16.5 | % |  |  | 16.5 | %
Income tax at Hong Kong statutory income tax rate |  |  | 13,812 |  |  |  | 16,777 |
Income tax paid |  |  | - |  |  |  | - |
Tax effect of tax loss brought forward |  |  | - |  |  |  | - |
Tax effect of tax reduction |  |  | (5,405 | ) |  |  | (2,031 | )
Income tax expense |  | $ | 8,407 |  |  | $ | 14,746 |
Schedule of Deferred Tax Assets | The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of June 30, 2017 and December 31, 2016:
|  | As of |  |  | As of |
|  | June 30, 2017 |  |  | December 31, 2016 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  |  |  |  |  |  |  |
– United States of America |  | $ | 476,555 |  |  | $ | 412,900 |
– The PRC |  |  | 79,737 |  |  |  | 60,209 |
– Malaysia |  |  | 65,172 |  |  |  | 45,645 |
|  |  | 621,464 |  |  |  | 518,754 |
Less: valuation allowance |  |  | (621,464 | ) |  |  | (518,754 | )
Deferred tax assets |  | $ | - |  |  | $ | - |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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