77 CONSOLIDATED FINANCIAL STATEMENTS 2024 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2024 (expressed in Barbados dollars) 37 9 Taxation …continued Deferred taxation The movement of deferred tax liability is as follows: 2024 $ 2023 $ Beginning of the year 36,175 94,459 Deferred tax charge/(release) 101,462 (58,284) End of year 137,637 36,175 The accumulated losses for tax purposes which may be carried forward and set off against future taxable income are as follows: CAPITA Financial Services Inc. St. Lucia Year of loss Losses b/fwd $ Incurred $ Utilised $ Expired $ Losses c/fwd $ Expiry date 2018 100,490 – (42,410) (58,080) – 2024 2019 51,144 – – – 51,144 2025 2020 110,883 – – – 110,883 2026 2021 228,076 – – – 228,076 2027 2022 313,935 – – – 313,935 2028 2023 255,246 – – – 255,246 2029 2024 – 234,830 – – 234,830 2030 1,059,774 234,830 (42,410) (58,080) 1,194,114
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