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Jamaica: Reverse income tax credit for certain low-income individuals

Applications are due December 2, 2024

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November 27, 2024

The Ministry of Finance introduced a reverse income tax credit (RITC) offering a one-time payment of JMD20,000 to individuals earning less than JMD3 million during the 2023 assessment year.

This initiative aims to provide financial relief to low-income individuals and is available to registered taxpayers who meet specific filing requirements by August 31, 2024.

To access the one-time payment of JMD 20,000 eligible persons are required to apply online by December 2, 2024, via Tax Administration Jamaica’s web portal at www.jamaicatax.gov.jm.

Persons eligible for the one-time payment are:

  • A resident of Jamaica for tax purposes
  • A self-employed person with statutory income below JMD 3 million
  • Employed persons, including domestic workers earning less than JMD 3 million

The RITC of JMD 20,000 will only be remitted to a Jamaican bank account which bears the name of the applicant.

The RITC is not taxable and therefore applicants do not need to report the amount on their tax returns.


For further information, contact a KPMG tax professional:

Thalia Francis | thaliafrancis@kpmg.com.jm  

Jana Peccoo | jpeccoo@kpmg.com.jm   

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