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El Salvador passes tech tax cut bill on AI businesses

Apr, 19, 2023 Hi-network.com

Salvadoran lawmakers passed a bill that eliminates taxes on companies, for 15 years, that develops artificial intelligence (AI) and other computer programming work. Essentially, the bill exempts eligible companies from income tax, capital gains, local government taxes, and tariff payments on imported goods needed for technology businesses. The adoption of the bill aims to make El Salvador an attractive tech destination for companies.

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