Japan to Raise NISA Lifetime Investment Limit to 18 M. Yen
Tokyo, Dec. 13 (Jiji Press)--The Japanese government and the ruling camp are considering raising the total lifetime investment limit under the tax-free, small-lot investment promotion scheme known as NISA to 18 million yen by unifying its existing two systems from 2024, it was learned Tuesday.
The government and the ruling bloc led by the Liberal Democratic Party plan to raise the annual investment limit under NISA, short for Nippon Individual Savings Account, to 3.6 million yen.
The plans are expected to be included in the ruling camp's tax system reform proposals for fiscal 2023 to be compiled shortly, informed sources said.
The government plans to unify the existing accumulation-type NISA and regular-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.
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.]