Japan to Make NISA Investment Promotion Scheme Permanent
Tokyo, Nov. 25 (Jiji Press)--The Japanese government Friday presented a draft plan to double citizens’ income from asset investment featuring the conversion of the NISA small-lot investment promotion scheme into a permanent program.
The draft also calls for ditching the maximum tax-free periods under NISA, short for Nippon Individual Savings Account, and raising the annual limits on the tax-free investments that can be made under the scheme.
With the change, income and capital gains from financial products managed under NISA will be exempted from tax indefinitely.
Details will be examined during the ongoing discussions on tax system reforms for fiscal 2023.
The draft plan also includes a target of doubling the total number of NISA accounts to 34 million and the value of investments made under the scheme to 56 trillion yen, both in five years.
[Copyright The Jiji Press, Ltd.]