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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of provision for income taxes |
Schedule of Loss before income tax |  |  |  |  |  |  |  |
|  | Years ended December 31,
|  | 2021 |  | 2020
Tax jurisdiction from: |  |  |  |  |  |  |  |
- Local |  | $ | 32,901,996 |  |  | $ | 3,019,273 |
- Foreign |  |  | 1,951,608 |  |  |  | 800,383 |
Loss before income taxes |  | $ | 34,853,604 |  |  | $ | 3,819,656 |
The provision for income taxes consisted of the following: Schedule of provisions for income tax
Schedule of provision for income taxes |  |  |  |  |  |  |  |
|  | Years ended December 31,
|  | 2021 |  | 2020
Current: |  |  |  |
- United States |  | $ | — |  |  | $ | — |
- Singapore |  |  | — |  |  |  | — |
- Vietnam |  |  | — |  |  |  | — |
- India |  |  | 11,136 |  |  |  | 8,152 |
Deferred: |  |  |  |  |  |  |  |
- United States |  |  | — |  |  |  | — |
- Singapore |  |  | — |  |  |  | — |
- Vietnam |  |  | — |  |  |  | — |
- India |  |  | — |  |  |  | 180 |
Income tax expense |  | $ | 11,136 |  |  | $ | 8,332 |
Schedule of provision for income taxes |
Schedule of provision for income taxes |  |  |  |  |  |  |  |
|  | Years ended December 31,
|  | 2021 |  | 2020
Current: |  |  |  |
- United States |  | $ | — |  |  | $ | — |
- Singapore |  |  | — |  |  |  | — |
- Vietnam |  |  | — |  |  |  | — |
- India |  |  | 11,136 |  |  |  | 8,152 |
Deferred: |  |  |  |  |  |  |  |
- United States |  |  | — |  |  |  | — |
- Singapore |  |  | — |  |  |  | — |
- Vietnam |  |  | — |  |  |  | — |
- India |  |  | — |  |  |  | 180 |
Income tax expense |  | $ | 11,136 |  |  | $ | 8,332 |
Schedule of statutory United States federal income tax rate |
Schedule of statutory United States federal income tax rate |  |  |  |  |  |  |  |
Rate Reconciliation |  |  |  |
|  | 2021
Expected tax at statutory rates |  |  | (6,846,505 | ) |  |  | 21 | %
Nondeductible Expenses |  |  | 6,979 |  |  |  | 0 | %
State Income Tax, Net of Federal benefit |  |  | 0 |  |  |  | 0 | %
Current Year Change in Valuation Allowance |  |  | 5,655,423 |  |  |  | -17 | %
Prior Deferred True-Ups |  |  | 1,184,103 |  |  |  | -4 | %
Total Income Tax Expense |  |  | — |  |  |  | — |
Schedule of Effective Income Tax Rate Reconciliation |
Schedule of Effective Income Tax Rate Reconciliation |  |  |  |  |  |  |  |
|  | Years ended December 31,
|  | 2021 |  | 2020
Loss before income taxes |  | $ | (893,222 | ) |  | $ | (408,868 | )
Statutory income tax rate |  |  | 20 | % |  |  | 20 | %
Income tax expense at statutory rate |  |  | (178,644 | ) |  |  | (81,774 | )
Tax effect of allowance |  |  | 178,644 |  |  |  | 81,774 |
Income tax expense |  | $ | — |  |  | $ | — |
As of December 31, 2021, the operation in the Vietnam incurred $1,302,090 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 $260,418 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 years ended December 31, 2021 and 2020 is as follows:
|  | Years ended December 31,
|  | 2021 |  | 2020
Income before income taxes |  | $ | 22,796 |  |  | $ | (32,387 | )
Statutory income tax rate |  |  | 25 | % |  |  | 25 | %
Income tax expense at statutory rate |  |  | 5,699 |  |  |  | (8,152 | )
Deferred income tax expenses |  |  | 5,437 |  |  |  | (180 | )
Tax effect of allowance |  |  | (11,136 | ) |  |  | 8,332 |
Income tax expense |  | $ | — |  |  | $ | — |
Schedule of Deferred Tax Assets and Liabilities |
Schedule of Deferred Tax Assets and Liabilities |  |  |  |  |  |  |  |
|  | December 31, 2021 |  | December 31, 2020
Deferred tax assets: |  |  |  |  |  |  |  |
Software intangibles (U.S) |  | $ | 150,465 |  |  | $ | — |
Deferred Stock Compensation (U.S.) |  |  | 5,864,670 |  |  |  | — |
Net operating loss carryforwards |  |  |  |  |  |  |  |
- United States |  |  | 1,875,143 |  |  |  | 2,171,941 |
- Singapore |  |  | 272,937 |  |  |  | 131,985 |
- Vietnam |  |  | 260,418 |  |  |  | 81,774 |
- India |  |  | — |  |  |  | — |
|  |  | 8,423,632 |  |  |  | 2,385,700 |
Less: valuation allowance |  |  | (8,423,632 | ) |  |  | (2,385,700 | )
Deferred tax assets, net |  | $ | — |  |  | $ | — |

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