Bukele will present a bill to eliminate taxes on technology

The President of El Salvador, Nayib Bukele, announced this Thursday night that he will send to the Legislative Assembly a bill to eliminate “all” taxes on technological innovationsincluding the development of artificial intelligence (AI) in the country.

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“Next week, I will send a bill to Congress to eliminate all taxes (on income, property, capital gains and import duties) on technological innovations,” Bukele wrote in English in a message on Twitter. .

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A possible elimination of taxes could encourage technology companies to invest and undertake technology projects in El Salvadorwhich could help the country’s economy.

He pointed out that some of the technological innovations will be “software programming, coding, applications and the development of AI; as well as the manufacture of computer and communications hardware.

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The Salvadoran president He did not provide more details about the proposal he will present before Parliament, with an official majority, nor did he specify what else is sought with it.

However, this tax elimination project appears to be part of a broader plan to position El Salvador at the forefront of technological development in the region and, together with the Bitcoin City project, make the country one of the closest to the use and adoption of cryptocurrencies in the national economy.

EFE