Last week, El Salvador’s President Nayib Bukele said that he would send to the country’s Congress a bill to eliminate all taxes on technology innovation, computing and communications hardware manufacturing.
Next week, I’ll be sending a bill to congress to eliminate all taxes (income, property, capital gains and import tariffs) on technology innovations, such as software programming, coding, apps and AI development; as well as computing and communications hardware manufacturing.
— Nayib Bukele (@nayibbukele) March 24, 2023
Earlier today, the President tweeted that he signed the document, and all taxes are eliminated on technology innovations.
— Nayib Bukele (@nayibbukele) March 31, 2023
He has announced plans to establish the world’s first “Bitcoin city” and adopted Bitcoin as legal tender in 2021. Nayib Bukele is eager to turn the Central American nation into a cryptocurrency center.