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INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Loss before income tax

Schedule of Loss before income tax
		Nine months ended September 30,
		2021				2020
Tax jurisdiction from:
- Local		$	14,272,684			$	—
- Foreign			1,246,371				2,507,042
Loss before income taxes		$	15,519,055			$	2,507,042

Schedule of provision for income taxes

Schedule of provision for income taxes
		Nine months ended September 30,
		2021				2020
Current:
- United States		$	—			$	—
- Singapore			—				—
- Vietnam			—				—
- India			9,943				15,069
Deferred:
- United States			—				—
- Singapore			—				—
- Vietnam			—				—
- India			—				—
Income tax expense		$	9,943			$	15,069

Schedule of Effective Income Tax Rate Reconciliation

Schedule of Effective Income Tax Rate Reconciliation
		Nine months ended September 30,
		2021				2020
Loss before income taxes		$	(450,407	)		$	(233,689	)
Statutory income tax rate			20	%			20	%
Income tax expense at statutory rate			(90,081	)			(46,738	)
Tax effect of allowance			90,081				46,738
Income tax expense		$	—			$	—

As of September 30, 2021, the operation in the Vietnam incurred $859,275 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carryforwards begin to expire in 2026, if unutilized. The Company has provided for a full valuation allowance against the deferred tax assets of $171,855 on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

India

The Company’s subsidiary operating in India is subject to the India Income Tax at a standard income tax rate of 25% during its tax year. The reconciliation of income tax rate to the effective income tax rate for the nine months ended September 30, 2021 and 2020 is as follows:

		Nine months ended September 30,
		2021				2020
Income before income taxes		$	17,716			$	(182,363	)
Statutory income tax rate			25	%			15	%
Income tax expense at statutory rate			4,429				(27,354	)
Tax effect of allowance			5,514				42,423
Income tax expense		$	9,943			$	15,069

Schedule of Deferred Tax Assets and Liabilities

Schedule of Deferred Tax Assets and Liabilities
		September 30, 2021				December 31, 2020
			(Unaudited)
Deferred tax assets:
Net operating loss carryforwards
-  United States		$	5,269,929			$	2,171,941
-  Singapore			230,027				131,985
-  Vietnam			171,855				81,774
-  India			—				—
			5,671,811				2,385,700
Less: valuation allowance			(5,671,811	)			(2,385,700	)
Deferred tax assets, net		$	—			$	—

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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.

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-Name Accounting Standards Codification
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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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