Requests from various ministries and agencies for the tax reform in the next fiscal year and 2023 will be met, and the Financial Services Agency will make permanent the preferential tax system "NISA" for individual investors and expand the annual investment limit. We included requests such as
By the 31st, ministries and agencies submitted their requests for tax reforms for next fiscal year to the Ministry of Finance and the Ministry of Internal Affairs and Communications.
Of these, the Financial Services Agency (FSA) made permanent the preferential tax system "NISA," which exempts taxable profits and dividends earned by individuals from investing in stocks, investment trusts, etc. We have set a deadline and included a request to expand the annual investment quota.
Bearing in mind the Kishida administration's "asset income doubling plan," it appears that the aim is to encourage individuals to shift their financial assets from savings to investment.
In addition, the Ministry of Economy, Trade and Industry and the Ministry of Land, Infrastructure, Transport and Tourism have announced that the "eco-car tax exemption", which reduces the automobile weight tax for electric vehicles, hybrid vehicles, and gasoline vehicles that meet certain fuel efficiency standards, will expire at the end of April next year. I am asking for an extension.
Furthermore, the Ministry of Economy, Trade and Industry has reduced corporate taxes paid by businesses that have actively invested in equipment, as the environment surrounding the management of small and medium-sized enterprises is becoming severe due to the effects of the new corona, the depreciation of the yen, and high prices. We are requesting that the measures to be taken be extended for two years.
In addition, the Ministry of Land, Infrastructure, Transport and Tourism has requested that the ``aircraft fuel tax'' be continued next year to support the aviation industry, which has been slow to recover the use of international flights.
The government and the ruling party plan to decide on next year's tax reform by the end of the year.