Bitcoin Investors: No Taxes in El Salvador
The government of El Salvador wants to exempt investors from capital gains tax and income tax (BTC), a legal adviser to the president said.
Javier Argueta, a legal advisor to President Nayib Bukele, wants to attract foreign investors with substantial Bitcoin tax breaks, Agence France-Presse reported in September.
“If someone has a fortune in Bitcoin and makes high profits, no tax is due. With this, of course, we want to encourage foreign investment,” said Argueta. He added that El Salvador would not levy taxes, “neither on capital appreciation nor on income”.
Read on on Cointelegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.