Taxation (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
| Disclosure of Taxation [Abstract] |
|
| Schedule of income tax expense |
| | |
2022 | | |
2021 | | |
2020 | |
| Deferred income tax expense | |
| (52,004 | ) | |
| (570,730 | ) | |
| (389,384 | ) |
| Deferred income tax gain | |
| 62,332 | | |
| 549,110 | | |
| 410,668 | |
| Income tax gain/(loss) | |
| 10,329 | | |
| (21,620 | ) | |
| 21,284 | |
|
| Schedule of effective income tax expense |
| Reconciliation | |
2022 | | |
2021 | | |
2020 | |
| Loss before income tax | |
| (26,538,740 | ) | |
| (17,036,823 | ) | |
| (8,221,449 | ) |
| Income tax at statutory tax rates applicable to results in the respective countries | |
| 3,641,775 | | |
| 2,348,057 | | |
| 991,120 | |
| Effect of unrecognized temporary differences | |
| (125,260 | ) | |
| (632,031 | ) | |
| (302,557 | ) |
| Effect of unrecognized taxable losses | |
| (3,015,088 | ) | |
| (1,885,486 | ) | |
| (184,881 | ) |
| Effect of impairment of assets | |
| — | | |
| (75,375 | ) | |
| — | |
| Effect of previously unrecognized deferred tax asset | |
| — | | |
| — | | |
| 97,458 | |
| Effect of expenses not considerable for tax purposes | |
| — | | |
| — | | |
| (47,894 | ) |
| Effect of impact from application of different tax rates | |
| (491,098 | ) | |
| 223,215 | | |
| (531,962 | ) |
| Income tax gain/(loss) | |
| 10,329 | | |
| (21,620 | ) | |
| 21,284 | |
|
| Schedule of deferred taxes assets and liabilities |
| | |
December 31, | | |
December 31, | |
| Deferred Tax Liabilities | |
2022 | | |
2021 | |
| Intangible assets | |
| — | | |
| (51,914 | ) |
| Deferred unrealized foreign exchange gains | |
| — | | |
| — | |
| Other receivables | |
| (167,299 | ) | |
| (122,449 | ) |
| Total | |
| (167,299 | ) | |
| (174,363 | ) |
| | |
December 31, | | |
December 31, | |
| Deferred Tax Asset | |
2022 | | |
2021 | |
| Net operating loss (NOL) | |
| 41,429 | | |
| 31,879 | |
| Total | |
| 41,429 | | |
| 31,879 | |
| Deferred Tax, net | |
| (125,870 | ) | |
| (142,484 | ) |
|
| Schedule of recognized tax benefits deferred tax |
| | |
Opening | | |
Recognized in | | |
Recognized in | | |
Exchange | | |
Closing | |
| Deferred Tax 2022 | |
Balance | | |
Profit or Loss | | |
Equity | | |
Differences | | |
Balance | |
| Intangible assets | |
| (51,914 | ) | |
| 51,958 | | |
| — | | |
| (44 | ) | |
| — | |
| Other receivables | |
| (122,449 | ) | |
| (52,004 | ) | |
| — | | |
| 7,154 | | |
| (167,299 | ) |
| Net operating loss (NOL) | |
| 31,879 | | |
| 10,374 | | |
| — | | |
| (825 | ) | |
| 41,429 | |
| Total | |
| (142,484 | ) | |
| 10,329 | | |
| — | | |
| 6,285 | | |
| (125,870 | ) |
| | |
Opening | | |
Recognized in | | |
Recognized in | | |
Exchange | | |
Closing | |
| Deferred Tax 2021 | |
Balance | | |
Profit or Loss | | |
Equity | | |
Differences | | |
Balance | |
| Intangible assets | |
| (252,174 | ) | |
| 199,056 | | |
| — | | |
| 1,204 | | |
| (51,914 | ) |
| Deferred unrealized foreign exchange gains | |
| (350,054 | ) | |
| 350,054 | | |
| — | | |
| — | | |
| — | |
| Derivative financial asset | |
| — | | |
| (127,000 | ) | |
| — | | |
| 4,551 | | |
| (122,449 | ) |
| Net operating loss (NOL) | |
| 476,363 | | |
| (443,730 | ) | |
| — | | |
| (754 | ) | |
| 31,879 | |
| Total | |
| (125,865 | ) | |
| (21,620 | ) | |
| — | | |
| 5,001 | | |
| (142,484 | ) |
|
| Schedule of tax loss carry forwards |
| | |
December 31, | | |
December 31, | |
| | |
2022 | | |
2021 | |
| Within 1 year | |
| 27,956,899 | | |
| 28,909,896 | |
| Between 1 and 3 years | |
| 31,668,498 | | |
| 50,673,943 | |
| Between 3 and 7 years | |
| 41,797,708 | | |
| 29,007,049 | |
| More than 7 years | |
| 1,691,572 | | |
| 1,264,262 | |
| Total | |
| 103,114,677 | | |
| 109,855,150 | |
|
| Schedule of tax effect of major unrecognized temporary differences and loss |
| | |
December 31, | | |
December 31, | |
| | |
2022 | | |
2021 | |
| Deductible temporary differences | |
| | |
| |
| Deferred income | |
| 111,025 | | |
| — | |
| Employee benefit plan | |
| 43,841 | | |
| 87,149 | |
| Other accounts payable | |
| — | | |
| 344,822 | |
| Total potential tax assets | |
| 154,866 | | |
| 431,971 | |
| Potential tax assets from loss carry-forwards not recognized | |
| 13,297,723 | | |
| 14,271,306 | |
| Total potential tax assets from loss carry-forwards and temporary differences not recognized | |
| 13,452,589 | | |
| 14,703,277 | |
|