Technology companies in El Salvador will be exempt from taxes for 15 years
The authorities of El Salvador have approved a bill that will allow companies engaged in technological innovations to avoid paying a number of taxes for 15 years. The bill covers, in particular, developers of applications and neural networks.
Companies will be exempt from income, capital gains and property taxes. They will also be allowed not to pay customs duties on the necessary goods.
El Salvador hopes that such measures will stimulate the development of technology and make the country more attractive for technology companies.
