Main page News, Tech

The Congress of El Salvador plans to consider a bill to abolish all taxes on technological innovation.

As announced by the country's president, Nayib Bukele:

"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."

According to him, the initiative also targets the production of computer and communications equipment.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

The former CTO of cryptocurrency exchange Coinbase, Balaji Srinivasan, has supported the proposal of the president of El Salvador.

He has written:

"In this century, many North Americans may move to Latin America."

Bitcoin advocate and author of a book on the cryptocurrency, Jason Williams, has also spoken in favor of the bill:

"I guess I’m moving to El Salvador to start my next company. Amazing and progressive!"

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.