{"id":76182,"date":"2023-03-25T14:09:24","date_gmt":"2023-03-25T12:09:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76182"},"modified":"2025-09-10T15:54:01","modified_gmt":"2025-09-10T12:54:01","slug":"el-salvador-president-prepares-bill-to-abolish-taxes-on-technology-firms","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvador-president-prepares-bill-to-abolish-taxes-on-technology-firms\/","title":{"rendered":"El Salvador president prepares bill to abolish taxes on technology firms"},"content":{"rendered":"<p>El Salvador&#8217;s Congress will consider a bill to abolish all taxes on technological innovations, Nayib Bukele said.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Next week, I\u2019ll be sending a bill to congress to eliminate all taxes (income, property, capital gains and import tariffs) on technology innovations, such as software development, coding, apps and artificial intelligence; as well as computing and communications hardware manufacturing.<\/p>\n<p>\u2014 Nayib Bukele (@nayibbukele) <a href=\\\"https:\/\/twitter.com\/nayibbukele\/status\/1639070248627208197?ref_src=twsrc%5Etfw\\\">March 24, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Next week, I will send to Congress a bill to abolish all taxes (income, property, capital gains and import taxes) on technological innovations, such as software development, coding, apps and artificial intelligence,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>According to Bukele, the initiative is also aimed at the production of computing and communications hardware.<\/p>\n<p>The former Coinbase chief technology officer Balaji Srinivasan backed the proposal from the Salvadoran president.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;In this century, many North Americans may move to Latin America,&#8221; wrote he.<\/p>\n<\/blockquote>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">In this century, many North Americans may move to Latin America. <a href=\\\"https:\/\/t.co\/3IvG6GrZC0\\\">https:\/\/t.co\/3IvG6GrZC0<\/a><\/p>\n<p>\u2014 Balaji (@balajis) <a href=\\\"https:\/\/twitter.com\/balajis\/status\/1639079582979756034?ref_src=twsrc%5Etfw\\\">March 24, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>A Bitcoin advocate and author of the book about the first cryptocurrency, Jason Williams, also voiced support for the bill.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;I guess I\u2019m moving to El Salvador to start my next company. Amazing and progressive!&#8221;<\/p>\n<\/blockquote>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">I guess I\u2019m moving to El Salvador to start my next company. Amazing and progressive! <a href=\\\"https:\/\/twitter.com\/nayibbukele?ref_src=twsrc%5Etfw\\\">@nayibbukele<\/a> <a href=\\\"https:\/\/t.co\/64p0WzRZvd\\\">https:\/\/t.co\/64p0WzRZvd<\/a><\/p>\n<p>\u2014 Jason A. Williams (@GoingParabolic) <a href=\\\"https:\/\/twitter.com\/GoingParabolic\/status\/1639099489351872512?ref_src=twsrc%5Etfw\\\">March 24, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Earlier, Tether&#8217;s chief technology officer Paolo Ardoino <a href=\"https:\/\/u1f987.com\/en\/news\/tether-cto-backs-el-salvador-in-its-bitcoin-initiative\">supported El Salvador&#8217;s Bitcoin initiative<\/a>. In his words, it would be short-sighted to judge the country&#8217;s success just a year after the legalization of the first cryptocurrency, given the rapidly changing geopolitical landscape.<\/p>\n<p>In September 2021, El Salvador&#8217;s authorities <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-legalises-bitcoin-as-government-buys-550-btc\">recognized<\/a> Bitcoin as legal tender. The International Monetary Fund <a href=\"https:\/\/u1f987.com\/en\/news\/imf-again-criticises-bitcoin-legalisation-in-el-salvador\">criticized<\/a> the move and <a href=\"https:\/\/u1f987.com\/en\/news\/imf-urges-el-salvador-to-drop-bitcoin-as-legal-tender\">recommended<\/a> depriving the cryptocurrency of this status.<\/p>\n<p>In July 2022, Finance Minister Alejandro Zelaya said that the rollout of digital gold <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-cites-benefits-of-bitcoin-legalization\">expanded access to financial services<\/a> to a largely unbanked population, <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-links-tourism-boom-to-bitcoin-legalization\">attracted tourists<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/bitfinex-to-donate-over-1-million-to-small-businesses-in-el-salvador\">investments<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador&#8217;s Congress will consider a bill to abolish all taxes on technology innovations, Nayib Bukele said.<\/p>\n","protected":false},"author":1,"featured_media":76183,"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":[1278,558],"class_list":["post-76182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-el-salvador","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76182","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=76182"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76182\/revisions"}],"predecessor-version":[{"id":76184,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76182\/revisions\/76184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76183"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}