Nearly 220,000 Jamaicans applied for the Reverse Income Tax Credit since its launch a week ago
Nearly 220,000 Jamaicans have applied for the Reverse Income Tax Credit since the programme’s launch a week ago on October 2.
Tax Administration Jamaica (TAJ) says at 2:30 PM today, some 219,431 eligible taxpayers had successfully submitted their applications for the tax giveback, which is a one-time $20,000 payment.
The programme is estimated to benefit over 580,000 eligible taxpayers earning below $3 million.
Taxpayers have until December 2, 2024 to submit their applications.
Disbursements will be made through participating financial institutions or remittance agencies.
The TAJ notes that Scotiabank Jamaica, which was not initially an option, has been added to the list of recipients.
Discussions are still underway to include additional financial institutions.
It is expected that disbursements will be made within four weeks of a confirmed application.
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