El Salvador’s President Nayib Bukele presented the law to Congress to abolish taxes on artificial intelligence, technology and software.
Globally spreading artificial intelligence and software technology also reveal new developments in the field of crypto. In the age of new and digitalizing technology, many trends are expected to emerge.
El Salvador, which previously made legal moves for Bitcoin (BTC), is eliminating taxes in artificial intelligence and other software areas. The law was introduced to Congress by the President of El Salvador, Nayib Bukele.
El Salvador Embraces Artificial Intelligence After Bitcoin
Recently, the President of El Salvador, Nayib Bukele, stated that they are working to eliminate taxes in artificial intelligence and other software areas. Bukele, who made an announcement on Twitter, drew attention to El Salvador’s moves towards becoming a technology center.
This bill, promised by Bukele, was presented to Congress today. In El Salvador, there will no longer be taxes on startups in the field of artificial intelligence and the software industry.
The official bill submitted to Congress includes eliminating all tax liability on technological innovations “such as software programming, coding, applications and artificial intelligence development, as well as the production of computing and communications equipment.”
Also, a Bitcoin office is expected to be established in El Salvador to support the initiatives involved in the law.
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