Country to Remove Taxes on AI and Tech Innovations: El Salvador

El Salvador President Nayib Bukele plans to encourage technological innovation by eliminating tax obligations on software programming, coding, applications, and artificial intelligence development.

El Salvador, working on a bill that will waive all taxes on artificial intelligence (AI) development, information technology, and communication hardware production.

El Salvador President Nayib Bukele plans to encourage technological innovation by eliminating tax obligations on software programming, coding, applications, and artificial intelligence development. Bukele has made headlines for his modern initiatives, including declaring Bitcoin as the country’s second national currency in 2021 with fireworks and music.

Taking to Twitter, Bukele expressed his desire to eliminate taxes on several technological ventures, including those related to artificial intelligence. He has caught the attention of the market with this move and announced that he will present a bill to Congress in the coming weeks, demanding the removal of all taxes on such ventures.

El Salvador’s proximity to cryptocurrencies, the decision to make Bitcoin a legal tender, and the support for blockchain ventures have been noteworthy details. The country, located in the Central America region, is preparing to add another initiative to its technology and digital asset ventures.

This move by El Salvador has piqued the interest of artificial intelligence entrepreneurs.




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