Deliberations on the tax reform bill for the 5th year of Reiwa, which includes a preferential tax system for individual investors and the expansion of "NISA", have begun in the Diet, and Finance Minister Suzuki has announced that the new tax system will shift from savings to investment. He indicated his intention to support the shift of households and aim to “double the asset income” of households.
The tax reform bill for the new fiscal year consists of
▽ increasing the tax-exempt limit on NISA to 18 million yen and
▽
integrally reviewing inheritance tax and gift tax.
At the plenary session of the House of Representatives on the same day, Minister of Finance Suzuki gave an explanation and asked questions.
In response to a question about the purpose and effects of expanding the NISA, Minister Suzuki said, "By making the system permanent and increasing the limit, a wide range of people, especially the middle class, will continue to build assets. By doing so, we will promote a shift from savings to investment and aim to double the asset income of households."
On the other hand, regarding the discussion of a tax increase being promoted within the government and ruling parties to secure financial resources for increasing defense spending, the opposition party said, "Isn't it a misappropriation of the special income tax for reconstruction?" The special income tax for reconstruction will reduce the tax rate and extend the tax period.The extent of the extension is said to be the length necessary to ensure the total amount of reconstruction financial resources." I have shown my intention to secure reasonable expenses and explain them carefully to the public.