El Salvador, the first country to establish Bitcoin (BTC) as a legal tender, has decided to ‘eliminate all taxes’ on technology innovations. The move runs parallel to establishing the National Bitcoin Office (ONBTC) of El Salvador, also known as “The Bitcoin Office.“
Technology innovations such as software programming, coding, apps and AI development, and computing and communications hardware manufacturing will be exempted from taxes in El Salvador, as President Nayib Bukele continues to embrace the king crypto (BTC) for his country.
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