Bukele eliminates taxes on technological innovations

The President of El Salvador, Nayib Bukele, promulgated the Law of Incentives for Innovation and Technology Manufacturing, whose main task is to eliminate all taxes on technological innovations.

The Salvadoran president informed of the elimination of this law through his Twitter account, where he explained that the elimination of taxes will be in force for income, property, capital gains and import tariffs in the technological activity that is carried out. in the country.

Among the activities included in this law are technological innovations, software and application programming, artificial intelligence or the manufacture of computer and communications hardware.

This law received the vote in favor of 69 of the 84 members that make up the country’s Legislative Assembly last April. The objective of the president of El Salvador is for the country to attract investment from companies in the technology and information sector.

Source: dpa

(Reference image source: El Salvador Presidency)

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