El Salvador President Signs Law Eliminating Taxes On Tech Innovations

Following the announcement of the bill in March, El Salvador President Nayib Bukele signed a law today eliminating income, property, capital gains, and other tariffs on technology innovations. Watcher Guru reports: The announcement reinforces El Salvador's perspective as a haven for technology development. Additionally, Bukele stated that the new act protects "technology innovations, software and app programming, AI, computer, and communications hardware manufacturing." The Innovations and Technology Manufacturing Incentives Act will likely attract tech developments to the country. Moreover, the elimination of taxes presents an economic benefit to a host of companies. Conversely, El Salvador continues to maintain its commitment to a variety of tech innovations that are being developed.

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