Schedule of current tax (expense) recovery

Income tax expense varies from the amount that would be computed by applying the basic federal and provincial income tax rates to the net income (losses) before taxes as follows:

 Schedule of income tax expense and tax rates to the net income (losses) before taxes

Deferred income taxes reflect the impact of temporary differences between amounts of assets and liabilities for financial reporting purposes and such amounts as measured by tax laws. Deferred tax assets and liabilities recognized at December 31, 2025 and 2024, are as follows:

 Schedule of recognized deferred tax assets and liabilities

Intermap Technologies corporation

Notes to Consolidated Financial Statements

(In thousands of United States dollars, except per share information)

Deferred tax assets have not been recognized in respect of the following items:

 Schedule of unrecognized deferred tax assets

The deferred tax asset is recognized when it is probable that future taxable profit will be available to utilize the benefits. The Company has not recognized deferred tax assets with respect to these items due to the uncertainty of future Company earnings.

Loss carry forwards:

At December 31, 2025, approximately $189,282 of loss carry forwards and $2,139 of tax credits were available in various jurisdictions. At December 31, 2024, $194,972 of loss carry forwards and $2,139 of tax credits were available in various jurisdictions. A summary of losses by year of expiry are as follows:

 Schedule of losses by year of expiry

 Schedule of movement in deferred tax balances