Technology to be tax free in El Salvador

[Yugocean]

Technology businesses (including computer and hardware manufacturing) are going to be exempt from all taxes in El Salvador.


Taxes are imposed only so that a country is able to govern, to cover administration, defense and other budgets, however, politicians are using taxes as tools to enjoy. Business also needed freedom, but politics put pressure there too. El Salvador has started the process against it.

What is your suggestion on this?

 

[Shavkat]

I am sure people in this country are rejoicing for this piece of good news. In my country, it will never happen for sure. It is where the government gets fund for their respective projects.

 

[riberet19]

I heard this news, Nayib Bukele is doing things very well in the country, some say he is a dictator, for me he is not and seeks the best for his country, in addition this will make many companies related to technology of all branches go to the country to settle and look for opportunities.

 

[Shavkat]

I heard this news, Nayib Bukele is doing things very well in the country, some say he is a dictator, for me he is not and seeks the best for his country, in addition this will make many companies related to technology of all branches go to the country to settle and look for opportunities.

I was wondering if where is he going to find resources for the local government's projects there. All I know is that the tax is the primary source for them to have funds.

 

[riberet19]

I was wondering if where is he going to find resources for the local government's projects there. All I know is that the tax is the primary source for them to have funds.

It may be for a limited time until companies settle there, in my country there are also initiatives like this for people from different countries, for example, for a limited time, like 5 years tax free for chinese business, I suppose it will do the same thing to attract businesses and startups

 

[flower]

It is a very good policy made by the government of El Salvador.

 

[Yugocean]

Update


El Salvador 's Bill to make technology (hardware and software) tax free has been approved by President Nayib Bukele.

This has opened the doors to tech companies worldwide, and made El Salvador as Tax Heaven.

 

[Heatman]

Update


El Salvador 's Bill to make technology (hardware and software) tax free has been approved by President Nayib Bukele.

This has opened the doors to tech companies worldwide, and made El Salvador as Tax Heaven.

This is actually a very good development for companies that are into the production of tech because they will find it very easy to do business in the country without paying a lot of taxes.

 

[hastral45]

It good if technology companies could be waive tax here as well. It is not only that, government should make provisions in the budget to make available funds for research and development of technology in the country. If this is done, it make such country progress in technology and reduce its rate of dependance on other countries for the importation of their technology products.

 

[Yugocean]

@hastral45

I don't think this will help, technology companies already got tax free environment, if govt put money in their pocket, it will have to tax other companies more, that would be rediclous.

 

[hastral45]

Giving technology a tax free would be a welcoming development that other developing countries should emulate. This tax free is long expected in African countries that are yet to meet up with their counterparts. Government should not waive technology tax alone, they should support technology so that the country would develop technologically.

 

[Chibson]

El salvador is really doing great in terms of technology. they were one of the countries that adopted cryptocurrency as a legal tender and now they are giving room for technological development by making it tax free.

 

[eldavis]

I believe this is their own way of trying to promote the increase in modern technology. We are in a world where technology plays a very important role in our lives.

 

[hastral45]

I believe this is their own way of trying to promote the increase in modern technology. We are in a world where technology plays a very important role in our lives.

Technology is very vital to our growth. The developed countries are taking the advantage modern technology to promote their countries. Any country that wanted to grow must lay much emphasis on the development of technology in its country and embark on programs that would promote it just like El Salvador.

 

[IB D]

I think that it is a good initiative. There would be a spring up of new technology firms that would drive the technological innovation needed for this modern age. It would help the economy to grow rapidly.