2022-11-25 11:03:59

Japan proposes expanding tax-free investment scheme for savers

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Channel NewsAsia
By Cna

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TOKYO : Japanese government on Friday called for doubling a tax-free stock investment programme for households, to encourage savers to put more money in riskier assets rather than hoarding it only in cash and savings accounts.

The proposed changes to the Nippon Individual Saving Account (NISA) programme aim to double the number of accounts to 34 million and the amount of investment to 56 trillion yen ($404 billion) over the next five years.

Under the current scheme, holders can only invest up to 1.2 million yen ($8,600) annually in stocks and investment trusts. The accounts offer a five-year tax exemption on returns.

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