El Salvador focuses on technological innovation, including tax elimination on tech advancements. This move attracts a huge number of developers and investors in every corner of the world.
Highlights
- President Nayib Bukele announced that all taxes, including income, property, capital gains, and import tariffs, will be eliminated.
- The move is aimed at encouraging the growth of the tech industry in El Salvador, particularly in the areas of AI development, coding, and apps, among others.
- Entrepreneurs and developers have already expressed interest in the country as a potential tech hub.
- This move could attract more entrepreneurs, developers, and investors to the country and potentially turn it into a tech hub in Latin America.
- It remains to be seen whether the bill will be approved by Congress, and if passed, it could put El Salvador at the forefront of tech innovation in the region.
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