Monday is the launch day for tax-free individual investment accounts in Japan. Account holders will not have to pay taxes on capital gains and dividends from annual investments of up to 1 million yen, or about 9,500 dollars.
Government officials are targeting Nippon Individual Savings Accounts, or NISA, at individual investors.
The tax-free period will last 5 years after investors open their accounts.
Officials hope the system will encourage people to move their money from savings accounts into investments.
Read the rest of the story: Individual investment accounts launched.