Bukele wants to eliminate taxes on technologies

This week, the president of El Salvador, Nayib Bukele, will submit to Congress a bill to eliminate taxes on technological innovations

The president of El Salvador, Nayib Bukele, indicated that this week he will submit a new law to Congress to eliminate all taxes on the technology sector.

According to what Bukele pointed out in his Twitter account, this law seeks to eliminate taxes applied to technological innovations, including “software, coding, applications and AI development.”

Likewise, areas such as “computing hardware manufacturing and communications” would benefit.

The president of the Central American country stressed that the new law is aimed at eliminating the income tax, import, in addition to the duties on property and capital gains.

Bukele, who is seeking re-election for the 2024 elections, is a cryptocurrency enthusiast and has launched various initiatives in this sector in the country, achieving a good position in crypto adoption.


With information from national and international media

(Reference image source: Scott Graham, Unsplash)

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