El Salvador president readies bill to eliminate taxes on tech

El Salvador's President Nayib Bukele speaks during a decoration ceremony to the Apostolic Nuncio to El Salvador Santo Gandemi, in San Salvador, El Salvador, October 26, 2022. REUTERS/Jose Cabezas

SAN SALVADOR (Reuters) - El Salvador's President Nayib Bukele said on Thursday he will send to the country's Congress next week a bill to eliminate all taxes on technology innovations as well as computing and communications hardware manufacturing.

"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," he said on Twitter.