The latest development in El Salvador was not unexpected, given the country’s commitment to technological advancement. Read it on.
Highlights
- President Nayib Bukele announced that he would be submitting a measure to Congress next week.
- Income, property, and capital gains taxes, as well as tariffs on imported goods on technology innovations, will be abolished.
- The President goes on to say that “technology innovations” would also cover things like AI research and development, programming, and app creation.
- El Salvador has the potential to attract developers due to its lack of income tax and growing interest in artificial intelligence.
- A Bitcoin/Lightning developer education curriculum was recently released in the nation last week.
- In addition, the release of Bitcoin bonds has been anticipated for the summer months.
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