v3.25.2
INCOME TAX EXPENSE (Tables)
6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
SCHEDULE OF PROVISION FOR INCOME TAX EXPENSE

The provision for income tax expense consisted of the following:

 

       
   Six months ended June 30, 
   2024   2025 
Current income tax  $1,665,092   $2,465,661 
Deferred income tax benefit   (27,357)   (136,389)
           
Income tax expense  $1,637,735   $2,329,272 
SCHEDULE OF EFFECTIVE INCOME TAX RATE

The summary of sales tax (including VAT and GST) and effective income tax rate by the governing countries are as follows:-

 

 SCHEDULE OF EFFECTIVE INCOME TAX RATE

Jurisdiction  VAT or Sales tax Rate   Income Tax Rate 
   2024   2025   2024   2025 
France   20%   20%   25%   25%
Australia   10%   10%   30%   30%
South Korea   10%   10%   10%   10%
Japan   10%   10%   32.1%-33.6%   32.1%-33.6%
United Kingdom   20%   20%   25%   25%
Singapore   9%   9%   17%   17%
SCHEDULE OF EFFECTIVE INCOME TAX RATE BASED ON INCOME (LOSS) BEFORE INCOME TAX EXPENSE

The reconciliation of income tax rate to the effective income tax rate based on income (loss) before income tax expense for the six months ended June 30, 2024 and 2025 are as follows:

 

       
   Six months ended June 30, 
   2024   2025 
Income before income taxes  $7,003,351   $12,353,347 
Effective income tax rate   17%   17%
Income tax expense at statutory rate   1,190,569    2,100,068 
Effect of different tax rates in other countries   60,444    7,223 
Income not subject to tax deduction   -    (273,615)
Expenses not subject to tax deduction   343,293    2,150 
Net operating losses   42,269    468,263 
Other tax adjustments   1,160    25,183 
Income tax expense   1,637,735    2,329,272