Bitcoin Investors Reportedly Exempt From Taxes in El Salvador
Salvador is really trying to place itself as one of the major Bitcoin havens
Bitcoin investors are reportedly exempt from taxes in El Salvador
“The government of El Salvador will reportedly exempt investors from paying a capital gains tax and an income tax on Bitcoin (BTC), according to a presidential legal counsel.
Javier Argueta, a legal adviser to President Nayib Bukele, is looking to encourage foreign investment through major tax breaks on Bitcoin, Agence France-Presse reported Sept. 10.
‘If a person has assets in Bitcoin and makes high profits, there will be no tax. This is done obviously to encourage foreign investment,’ Argueta said, adding that El Salvador will impose no taxes on ‘either the capital increase or the income.’”