Tax Administration Jamaica has extended the deadline for the submission of new applications for the Government of Jamaica’s Reverse Income Tax Credit (RITC).

The deadline, previously scheduled for December 2, has moved to December 13, 2024.

“So far, 290,912 individuals have benefitted from the tax giveback with total payments of $5.8 billion disbursed up to the end of November. A further 38,263 applications are currently at various stages of the application process,” the TAJ divulged.

The local tax authority explained that the extension was implemented following adjusting the eligibility period for filing income tax returns from August 31 to October 15, 2024. This means that individuals, including self-employed persons, Pay-As-You-Earn (PAYE) employed persons and domestic workers filing a Stamp Card, now have until December 13 to apply for the RITC, once they have completed their required tax filings and/or payments by October 15, 2024. 

“This move is primarily to [facilitate] employers who filed their Employer’s Annual Return (S04) after the previous August 31, 2024 date but by the extended October 15, 2024 date, now allowing additional employees, who earned below $3 million in the year 2023 to benefit from the GOJ one-time payment of $20,000,” the TAJ disclosed in a release. 

Updated TRN information with NIS

Additionally, the TAJ advised individuals who are National Insurance Scheme (NIS) Stamp Card holders – and updated their Taxpayer Registration Number (TRN) information with the NIS – that their information has now been updated in the supplemental database. This means that Stamp Card holders who had previously submitted applications may now do so again. 

Individuals who faced an earlier challenge that has since been rectified may also reapply. They will have until December 31, 2024, to resubmit their applications.

The authority also revealed that disbursements to financial institutions and remittance agencies are on track with subsequent disbursements scheduled for December and January, keeping with the Government’s projection.

It also reminded taxpayers that the application process for disbursement lasts a minimum of four weeks, from the time the application is confirmed as submitted via the tax portal at www.jamaicatax.gov.jm.

“The beneficiaries are reminded that they will receive a notification via SMS text message or e-mail advising when the disbursement is made to the financial institution or remittance agency of their choice, as well as if there is a subsequent challenge with the information provided. Alternatively, successful applicants may use the “Track Status of Application” option 3 on the RITC hub at www.jamaicatax.gov.jm.”

TAJ is advising that only individuals who have confirmed that the money has been disbursed should visit their financial institution or remittance agency. It further informed that the Reverse Income Tax Credit Hub is available on the TAJ portal at www.jamaicatax.gov.jm to facilitate the submission of applications and getting relevant information about RITC to include Frequently Asked Questions. 

“Persons interested in submitting their applications will need to have at hand their Taxpayer Registration Number (TRN), valid banking information, and telephone number and email address to complete and submit the online application. They may also choose from a list of participating financial institutions or remittance agencies to receive the disbursements,” the TAJ concluded.