Skip to content
Subscribe
  • Home
  • Services
  • Video
  • Events
Subscribe

Reading

President of El Salvador Removes Taxes on Technological Innovations
News Markets

President of El Salvador Removes Taxes on Technological Innovations

The El Salvadoran president has recently signed into law the complete elimination of taxes on technology innovations.
Alex Lari
By: Alex Lari
Oct 27, 2023
3 min read
President of El Salvador Removes Taxes on Technological Innovations

In March of this year, a bill was announced in El Salvador, and today it was signed into law by President Nayib Bukele. The new legislation abolishes taxes on technology innovations and includes additional measures such as the elimination of income, property, capital gains, and tariffs that are crucial to promoting technological advancement under the Innovation and Technology Manufacturing Incentive Act.

This announcement strengthens El Salvador’s position as a destination for technology development. Furthermore, President Bukele emphasized that the newly enacted law safeguards “technology innovations, software and app programming, AI, computer, and communications hardware manufacturing.”

Back in March, President Bukele revealed his plan to propose a bill aimed at safeguarding technological progress in El Salvador. The bill was then forwarded to Congress to remove taxes on a range of technology-related advancements.

The El Salvadoran president has recently signed into law the complete elimination of taxes on technology innovations. President Bukele also confirmed the news via Twitter, notifying the public that the bill had been successfully enacted.

The Innovations and Technology Manufacturing Incentives Act is expected to entice technology developments to El Salvador, while the tax elimination is economically advantageous for many companies. Conversely, the country’s dedication to a diverse range of tech innovations being cultivated remains unwavering.

The growth of certain technological advancements, such as generative AI and bitcoin, has been hindered by unclear regulations. The recent Digital Asset Mining Energy (DAME) excise tax introduced by the U.S. government is a clear example of such prohibitive regulations.

El Salvador has responded to this issue by taking swift action and implementing an alternative environment through its new law.

Stay on top of Bitcoin
news, get weekly updates
in your inbox.

Recommended News

Markets
Markets
Vinanz Raises £3.58 Million as Retail Investors Back Bitcoin Strategy
Jun 18, 2025
3 min read
By: Alex Lari
Markets
Markets
Metaplanet’s BTC Reserve Flips Coinbase, Reaching its 2025 Goal
Jun 17, 2025
3 min read
By: Alex Lari
Markets
Markets
Trump Media Gets SEC Approval for $2.3 Billion Bitcoin Treasury
Jun 16, 2025
2 min read
By: Alex Lari
All News
Accelerating Adoption
News
  • Adoption
  • Legal
  • Markets
  • Mining
  • Opinion
  • Press Release
  • Learn
  • Sponsored
Company
  • About Us
  • Brand Assets
  • Newsletter
  • Services
  • Site Map
  • Terms & Privacy
Connect
  • Contact Us
  • Contribute
  • Services
  • Media Partner
  • RSS
  • Videos
Social Media
  • Twitter
  • YouTube
  • Telegram
  • LinkedIn
  • Instagram
  • Nostr
  • TikTok
  • Flipboard

© A Bitcoin-Focused Company | 256 Media, 2024

Language Switcher
Search
  • News
    • Adoption
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
    • Learn
    • Interviews
  • Services
  • Video
  • Events
  • News
    • Adoption
    • Interviews
    • Learn
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
  • About Us
  • Contact
  • Newsletter
Search

Popular Articles

Relai Partners With Casa to Offer Multisig: A New Way to Stack and Save
June 18, 2025 · 2 min
Fold CEO Will Reeves on Making Bitcoin Part of Everyday Life
June 18, 2025 · 8 min
Vinanz Raises £3.58 Million as Retail Investors Back Bitcoin Strategy
June 18, 2025 · 3 min
Metaplanet’s BTC Reserve Flips Coinbase, Reaching its 2025 Goal
June 17, 2025 · 3 min
Trump Media Gets SEC Approval for $2.3 Billion Bitcoin Treasury
June 16, 2025 · 2 min
Anthony Pompliano to Lead $750M Bitcoin Fund via SPAC Merger
June 15, 2025 · 2 min

Bitcoin Only
Newsletter

Get weekly news roundups direct to your inbox!