El Salvador President Readies Bill To Eliminate Taxes On Tech

An anonymous reader quotes a report from Reuters: El Salvador's President Nayib Bukele said on Thursday he will send to the country's Congress next week a bill to eliminate all taxes on technology innovations as well as 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," he said on Twitter. The tax cut would also encompass computing and communications hardware manufacturing, Bukele added. In 2021, the Salvadoran leader introduced legislation to make El Salvador the world's first sovereign nation to adopt bitcoin as legal tender. He also unveiled plans to build a "Bitcoin City" at the base of a volcano.

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