El Salvador's President Nayib Bukele said on Thursday he would submit a bill to the country's Congress next week to eliminate taxes on technological innovation and the manufacture of computing and communications hardware.
"Next week, I will be introducing a bill to Congress to eliminate all taxes (income, property, capital gains and import duties) on technological innovations such as software programming, coding, apps and AI development," he tweeted explain.
Bukele added that the tax cuts would also cover computing and communications hardware manufacturing.
The El Salvador leader is eager to make the Central American country a cryptocurrency hub, adopting bitcoin as legal tender in 2021 and unveiling plans to create the world's first "bitcoin city".
