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TAXATION (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Income Tax Disclosure [Abstract]

SCHEDULE OF RECONCILIATION OF EFFECTIVE TAX RATE

Reconciliation between the statutory rate and the effective tax rate is as follows for the six months ended June 30, 2024 and 2023.

SCHEDULE OF RECONCILIATION OF EFFECTIVE TAX RATE

		2024				2023
PRC statutory tax rate			25	%			25	%
Foreign loss not recognized in PRC			(12	)%			(124	)%
Permanent difference and others			-				160	%
Change in valuation allowance			(65	)%			253	%
Effective tax rate			(52	)%			314	%

Reconciliation between the statutory rate and the effective tax rate is as follows for the years ended December 31, 2023, 2022 and 2021.

SCHEDULE OF RECONCILIATION OF EFFECTIVE TAX RATE

		2023				2022				2021
PRC statutory tax rate			25	%			25	%			25	%
Net impact of exemption and favorable tax rate rendered by local tax authorities			-				-				-
Foreign loss not recognized in PRC			1	%			2	%			-	%
Permanent difference and others			(2	)%			(4	)%			(1	)%
Change in valuation allowance			(25	)%			(25	)%			(25	)%
Effective tax rate			(1	)%			(2	)%			-

SCHEDULE OF DEFERRED TAX ASSETS

The Company’s deferred tax assets were as follows:

SCHEDULE OF DEFERRED TAX ASSETS

		June 30, 2024				December 31, 2023
Tax effect of net operating losses carried forward			92,851				15,445,085
Valuation allowance			(92,851	)			(15,445,085	)
Deferred tax assets, net		$	-			$	-

The Company’s deferred tax assets were as follows:

SCHEDULE OF DEFERRED TAX ASSETS

		December 31, 2023				December 31, 2022
Tax effect of net operating losses carried forward			15,445,085				3,968,729
Valuation allowance			(15,445,085	)			(3,968,729	)
Deferred tax assets, net		$	-			$	-

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- References

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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/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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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/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

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-Section 50
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