Reverse Income Tax Credit Payment Made to First 75,000 Applicants

Tax Administration Jamaica (TAJ) is advising that disbursements have been made to the first 74,749 of the now 272,041 Jamaicans, who have applied successfully to receive the $20,000 Reverse Income Tax Credit (RITC).

The payments being made relate to the following financial institution and remittance services that are fully configured to receive payments:
 JN Bank
 JN Money Services
 LASCO Financial Services
 VM Money Transfer

The beneficiaries will be notified via SMS or email that the funds have been remitted to the financial institution or remittance agency of their choice. TAJ is advising that only persons who have received the notification should visit their financial institution or remittance agency.

Other successful applicants are advised that they will be notified once the payments have been credited to their bank account or sent to their selected remittance agency.

It is expected that the other 197,292 applicants will be paid in November.

Alternately, successful applicants are reminded that they can track the status of their application on the TAJ website www.jamaicatax.gov.jm.

The payment comes 4 weeks since the launch of the Government of Jamaica’s initiative that will benefit an estimated 580,000 eligible taxpayers earning below $3M.

Additionally, persons whose 2022 Stamp Card was submitted to the NIS Office before August 31, 2024, however their applications were rejected due to “No eligible source of income found” are being reminded to visit the nearest NIS office to have their NIS records updated with their TRN.

This update must be completed before November 4, 2024 in order to be on the supplemental database provided to TAJ for eligibility determination.

Stamp Card applicants without TRN on record will be further advised when to reapply.

For further RITC information, persons may contact call 888-TAX-BACK (888-829-2225), email taxback@taj.gov.jm or visit the Information hub on our website at www.jamaicatax.gov.jm.