Tax reduction for unmarried single parents with income of 5 million or less

Tax reduction for unmarried single parents with income of 5 million or less Tax reform outline Charter decision Dec. 20, 11:09

The government decided on a cabinet meeting on the 20th of the next year's tax reform outline that the Liberal Democratic Party and the Komeito Party decided earlier.

In the general rules, the investment deadline is based on a review of the system for reducing the income tax and inhabitant tax for unmarried single parents whose annual income is 5 million yen or less, and the preferential tax system “NISA” for individual investors. It is included that it will be extended for 5 years after 2024, when it will expire.

In addition, tax incentives that encourage large companies to invest in venture companies, and measures to promote the introduction of the next-generation communication standard “5G”, etc., in order to prepare an environment for turning internal reserves of companies into investments. Was also included.

If this tax reform is reflected in tax revenues, the final increase is expected to be 9.3 billion yen for both the national and local governments.

The government decides to submit a tax bill that summarizes the contents of the outline to the ordinary Diet at the beginning of the year.