El Salvador’s president Nayib Bukele has signed a law eliminating all taxes on technology innovations. Bukele has tweeted, “I’ve just signed into law, the INNOVATION AND TECHNOLOGY MANUFACTURING INCENTIVES ACT, that eliminates all taxes (income, property, capital gains and import tariffs) on technology innovations, software and app programming, AI, computer and communications hardware manufacturing.”
The Innovation and Technology Manufacturing Incentives Act was first introduced to the public on March 24. Bitcoin is thought to be part of the act.
