Tax Administration Jamaica is reporting that 216,207 applicants will receive disbursements totalling over $4.3 billion this month under the Government's Reverse Income Tax Credit initiative.
This will bring the total number of individuals benefitting so far from the tax giveback to 290,912 with total payments of 5.8 billion.
The latest payments are scheduled for disbursements during the week of November 25 - 29 and will include payments to clients of National Commercial Bank and Scotiabank who had earlier experienced delays in the process.
TAJ says disbursements to financial institutions and remittance agencies remain on track with further payouts slated for December and January.
Under the initiative, eligible individuals earning less than $3 million per year, will receive a one-time $20,000 payment.
Eligible individuals who have not yet applied are reminded that the deadline for the submission of applications is December 2, 2024.
Applicants will need to have at hand their Taxpayer Registration Number, valid banking information and telephone number or email address to complete and submit the online application via the TAJ website at jamaicatax.gov.jm.
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