KINGSTON, Jamaica — Over 216,000 Jamaicans are set to benefit from the Government’s Reverse Income Tax Credit (RITC) initiative this November, with disbursements totaling an impressive $4.3 billion. These payments are part of an ongoing effort to support individuals earning under $3 million annually, providing a one-time benefit of $20,000 each.
With this round of disbursements, the total number of recipients will rise to 290,912, and the overall payout to date will reach $5.8 billion. The payments are expected to be processed between November 25 and 29, with a special note for National Commercial Bank (NCB) and Scotia Bank customers who faced delays in previous payments.
Beneficiaries will be notified via SMS or email once their funds are available at their chosen financial institution or remittance agency. For those who prefer, the “Track Status of Application” tool is available on the RITC hub at www.jamaicatax.gov.jm to check the status of their disbursement.
TAJ encourages recipients to wait for confirmation before visiting their banks or remittance agencies to avoid unnecessary visits. The disbursements are progressing as planned, with future rounds scheduled for December and January.
The Tax Administration Jamaica (TAJ) has also reminded eligible individuals who have not yet applied for the RITC to do so before the December 2, 2024, deadline. Applicants will need their Taxpayer Registration Number (TRN), valid banking details, and contact information to submit their applications through the TAJ website.
Once submitted, the process from application to disbursement typically takes about four weeks, ensuring that those who apply in time will receive their funds before the year’s end.
