More than 190,000 Jamaicans have successfully submitted applications for the Government’s Reverse Income Tax Credit.

In an update this morning, Finance Minister Dr. Nigel Clarke said 190,068 registered taxpaying Jamaicans applied for the benefit as at 8:02 AM.

The Reverse Income Tax Credit Regime was launched last Wednesday.

The one-off payment of $20,000 is for registered Jamaican taxpayers who earn $3million or less.

The qualifying tax year is 2023.

Eligible persons can apply online via the Tax Administration Jamaica website.

The processing time for the disbursement of funds is approximately four weeks.

Applicants will be notified of the disbursement via email or text message.

The application period for the Reverse Income Tax Credit is from October 2 to December 2.