Japan FSA Hopes to Make NISA Scheme Permanent

Economy

Tokyo, Aug. 23 (Jiji Press)--Japan’s Financial Services Agency aims to make the Nippon Individual Savings Account tax-free small-lot investment scheme a permanent measure to promote a shift from savings to investment, it was learned Tuesday.

The FSA also hopes to expand the NISA scheme by scrapping the limits on the maximum periods and amounts of tax-free investment that can be made under the scheme.

The agency thinks that these measures would be key items in an upcoming plan for doubling incomes from asset investment to be released by Prime Minister Fumio Kishida’s administration at year-end.

Details of the NISA reform measures will be examined mainly at meetings of the tax panels of the ruling parties to work out a tax system reform package for fiscal 2023.

Under the NISA scheme, profits from investing in financial products within certain amounts each year are exempted from tax for certain periods.

[Copyright The Jiji Press, Ltd.]

Jiji Press