President of El Salvador readies bill to remove taxes on AI and tech innovations

Nayib Bukele, the President of El Salvador, announced plans to present a bill to the country’s Congress next week that would abolish all taxes on technology innovation, artificial intelligence (AI) development, computing, and communications hardware manufacturing.

In a tweet on March 24, Bukele declared his intentions by stating that the tax exemption would include income, property, capital gains, and import tariffs on technology innovations such as coding, software programming, AI development, as well as computing and communications hardware manufacturing. He said:

“Next week, I’ll be sending a bill to congress to eliminate all taxes (income, property, capital gains, and import tariffs) on technology innovations, such as software programming, coding, apps, and AI development; as well as computing and communications hardware manufacturing.”