Japan Eyes Investment Limit of 15 M. Yen for New NISA

Politics

Tokyo, Dec. 12 (Jiji Press)--Japan's government and ruling parties plan to unify two existing types of NISA, the country's tax-free, small-lot investment promotion scheme, and boost the total investment limit to 15 million yen, it was learned Monday.

Under NISA, short for Nippon Individual Savings Account, capital and income gains from financial products within certain amounts are exempted from tax for certain periods. The amounts and time frames differ depending on the types of the scheme.

The government and the ruling parties plan to unify the regular-type NISA and the accumulation-type NISA to create a single permanent accumulation type without any limit on the tax-free period. The new scheme will also take over some features of the regular type.

The total amount of investment allowed under the new scheme will be set at 15 million yen, and the annual investment limit at 1.2 million yen.

Under the current accumulation type, the maximum investment amount stands at 8 million yen while the annual limit is 400,000 yen. The figures stand at 6 million yen and 1.2 million yen, respectively, under the regular type with a shorter tax-free period.

[Copyright The Jiji Press, Ltd.]

Jiji Press