Finance Ministry Begins Disbursement of Reverse Tax Credits to Thousands of Jamaicans

Kingston, Jamaica – The first group of 77,000 Jamaicans, out of approximately 261,000 applicants, will be notified this week that their $20,000 reverse income tax credit has been disbursed. Outgoing Minister of Finance, Dr. Nigel Clarke, made the announcement on Tuesday in the House of Representatives as he addressed tributes from his parliamentary colleagues.

The reverse income tax credit program, first introduced by Clarke during the budget presentation in March, is part of a wider government initiative to support lower-income Jamaicans. Clarke confirmed that notifications will be sent via SMS or email to inform recipients that their funds are ready for collection at designated remittance agencies or financial institutions.

Clarke urged that only those who receive notification should go to collect their funds, aiming to reduce crowding and streamline the collection process. He also clarified that the remaining eligible applicants will receive their payments in stages over November and December.

“For collection, you must present a valid Government ID, such as a passport, driver’s license, or voter’s ID,” Clarke explained. “Persons with disabilities can authorize a representative to collect on their behalf by providing a signed letter from a justice of the peace. The letter must include the application reference number, TRN, beneficiary ID, and other relevant details.”

The reverse tax credit program represents one of Clarke’s final acts as Minister of Finance, a role he has held with notable reforms. Clarke expressed his commitment to completing this initiative as he prepares to hand over the reins, remarking, “I’m running through the tape,” underscoring his dedication to Jamaica’s economic welfare.