{"id":49323,"date":"2021-09-13T13:02:14","date_gmt":"2021-09-13T10:02:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49323"},"modified":"2025-09-02T12:08:19","modified_gmt":"2025-09-02T09:08:19","slug":"el-salvador-to-exempt-foreign-bitcoin-investors-from-taxes","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvador-to-exempt-foreign-bitcoin-investors-from-taxes\/","title":{"rendered":"El Salvador to exempt foreign Bitcoin investors from taxes"},"content":{"rendered":"<p>The government of El Salvador will exempt foreign investors from capital gains tax and the income tax on Bitcoin transactions. This was stated by the president&#8217;s legal affairs adviser Javier Argueta in a comment to <a href=\\\"https:\/\/news.yahoo.com\/foreign-investors-exempt-tax-bitcoin-202653347.html\\\">AFP<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\\&#8221;The move is aimed at attracting foreign investment,\\&#8221;<\/em>\u2014<em>the official said.<\/em><\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>The authorities intend to combat the use of Bitcoin in illicit activity. To this end, according to Argueta, a mechanism for tracking payments has been implemented in the Chivo crypto wallet.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\\&#8221;We are implementing a set of recommendations from international organizations on anti-money laundering,\\&#8221;<\/em>\u2014<em>the official said.<\/em><\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>The adviser also pointed to the possibility of halting Bitcoin transactions should the price fall sharply. This would help mitigate the negative consequences of using the cryptocurrency as a means of payment, he added.<\/p>\n<p>\\n\\n<\/p>\n<p>As reported, on September 7 in El Salvador the <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-legalises-bitcoin-as-government-buys-550-btc\">law recognizing Bitcoin as a legal means of payment<\/a> came into force.<\/p>\n<p>\\n\\n<\/p>\n<p>According to former product director of the cryptocurrency exchange Liquid Mario Gomez Losada, payment companies and systems could lose up to $1 billion per year due to the integration of the Chivo Bitcoin wallet into El Salvador&#8217;s financial system. According to AFP, remittances into the country account for 20% of its GDP.<\/p>\n<p>\\n\\n<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government of El Salvador will exempt foreign investors from capital gains tax and the income tax on Bitcoin transactions. This was stated by the president&#8217;s legal affairs adviser Javier Argueta in a comment to AFP.<\/p>\n","protected":false},"author":1,"featured_media":49324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1278,558],"class_list":["post-49323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-el-salvador","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49323"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49323\/revisions"}],"predecessor-version":[{"id":49325,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49323\/revisions\/49325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49324"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}