KINGSTON, Jamaica — In a significant step to alleviate the financial burden on lower-income earners, the Government of Jamaica is set to disburse over $4.3 billion in Reverse Income Tax Credit (RITC) payments this November. A total of 216,207 eligible applicants will receive a one-time payment of $20,000 as part of the government’s ongoing RITC initiative aimed at supporting taxpayers earning less than $3 million annually.
With this new round of payments, the total number of beneficiaries across the program will reach 290,912, bringing the total disbursed funds to an impressive $5.8 billion. The payments will be processed between November 25 and 29, including outstanding payments for National Commercial Bank and Scotia Bank customers who previously experienced delays.
TAJ (Tax Administration Jamaica) has advised that recipients will be notified through SMS or email once their disbursement is processed to their chosen financial institution or remittance agency. To stay updated, individuals can also track the status of their application directly through the RITC portal on the official TAJ website.
For individuals who have not yet received confirmation of disbursement, the TAJ recommends waiting for the official notification before visiting their financial institution. As the process continues, the TAJ reassures that all disbursements are on schedule, with further payments slated for December and January in accordance with the government’s projections.
Eligible applicants who have not yet submitted their applications are encouraged to do so by December 2, 2024. To complete the application, they will need their Taxpayer Registration Number (TRN), current banking details, and a valid email address or phone number. Applications can be submitted via the official website at www.jamaicatax.gov.jm, with an expected processing time of four weeks from submission to disbursement.
