The Financial Services Agency (FSA) plans to make the NISA (tax exemption system for small investments) permanent and expand the investment limit in its request for tax reform in fiscal 2023. A new growth investment quota (provisional name) will be introduced for the accumulation-type "Tsumitate NISA" to enable investment in a wider range of products. It will allocate more than 1,000 trillion yen in cash and deposits of individuals to investments, leading to the expansion of household assets.
The Financial Services Agency will make a request to the Ministry of Finance within the month. Towards the end of the year, the ruling party's tax research committee will play a central role in examining specific details, such as the expansion of the investment quota.
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Original News Source: (c) The Yomiuri Shimbun Online
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