More than 260,000 people have been approved for the government’s reverse income tax credit since its launch earlier this month. 

The tax credit provides a one-time payment of $20,000 to eligible taxpayers earning below $3 million.

An estimated 580,000 persons are expected to benefit from the initiative. 

Tax Administration Jamaica (TAJ) says approved applications are now being processed for disbursement.

The TAJ notes however, that it has taken note of several applications being rejected.

In reviewing the reasons for some rejections, it says it discovered that many domestic workers do not have a Taxpayer Registration Number (TRN) on file with their National Insurance Scheme (NIS) number. 

A TRN is necessary to qualify for the reverse tax credit.

To remedy this issue, the TAJ says individuals whose applications were rejected due to “no eligible source of income found” and who submitted their 2022 stamp card before August 31, should visit their nearest NIS office to update their records with their TRN.

It says this update must be completed before November 4, to be on the supplemental database provided to tax authority for eligibility determination. 

The TAJ notes that stamp card applicants without TRN on record will be further advised when to re-apply.

Meantime, the TAJ is reminding eligible taxpayers that they have until December 2 to submit their application.