Beneficiaries of Tax Reverse Initiative Could Start Receiving Payments in October

Chief Technical and Tax Dispute Resolution Advisor at Tax Administration Jamaica, TAJ, Bevon Sinclair, says eligible beneficiaries of the government’s Reverse Income Tax Credit Initiative can expect disbursements to start as early as this month.

The one-off reverse credit will see Jamaicans who earn $3 million or less per year each receiving a $20,000 cash payment this fiscal year.

Sinclair is encouraging applicants to apply early online through the TAJ’s website.

The Reverse Income Tax Credit initiative was launched on Wednesday at the Jamaica Pegasus Hotel in New Kingston. It is being done at a cost of $11.4 billion. The application period started on October 2 and runs through to December 2, 2024.

Sinclair says the application interface is user-friendly.

Meanwhile, Sinclair says special measures were put in place to benefit public sector workers and pensioners.

Sinclair says security concerns have been taken into consideration. He says at no time will any link be sent to applicants.

Bevon Sinclair, Chief Technical and Tax Dispute Resolution Advisor at TAJ. He was speaking during Nationwide at Five on Wednesday.