INCOME TAX (Tables)

3 Months Ended

Mar. 31, 2018

Provision for income taxes consisted of the following:

	For the three months ended
	March 31, 2018		March 31, 2017

Current:
Provision for Malaysian income tax	$	—	$	—
Provision for U.S. income tax		—		—
Deferred:
Provision for Malaysian income tax		—		—
Provision for U.S. income tax
	$	—	$	—

Schedule of income before income tax

A reconciliation of the provision for income taxes with amounts determined by applying the Malaysian income tax rate of 24% and 24% for the periods ended March 31, 2018 and 2017, respectively, to income before income taxes are as follows:

	For the three months ended
	March 31, 2018			March 31, 2017

Profit (loss) before income tax	$	(1,926,326	)	$	(173,212	)
Permanent difference		1,926,326			173,212
Taxable income	$	—		$	—
Malaysian income tax rate		24	%		24	%
Current tax expenses	$	—		$	—
Less: Valuation allowance		—			—
Income tax expenses	$	—		$	—

A reconciliation of the provision for income taxes with amounts determined by applying the United States Federal income tax rate of 34% for the period ended March 31, 2018 and 2017, respectively, to income before income taxes are as follows:

	For the three months ended
	March 31, 2018			March 31, 2017

Profit (loss) before income tax	$	(50,880	)	$	(3,906	)
Permanent difference		50,880			3,906
Taxable income	$	—		$	—
U.S. income tax rate		21	%		21	%
Current tax expenses	$	—		$	—
Less: Valuation allowance		—			—
Income tax expenses	$	—		$	—

Ho Wah Genting Group Ltd 10-Q