El Salvador May Exempt Foreign Investor Making Money From Bitcoin Taxes

According to a statement attributed to one of the advisers to the El Salvador government, the government now plans to exempt foreign investors profiting from bitcoin (BTC) from taxation after it has been introduced.

  • Speaking to AFP, Javier Argueta, adviser to President Nayib Bukele, said, “If someone has a bitcoin holding and that person has earned a high level of earnings, there will be no tax.” what he said was conveyed.

  • The law, approved in June, came into effect on September 7th, making bitcoin one of the two currencies in circulation in El Salvador, along with the US dollar.

  • President Bukele stated that citizens who transfer money in the country and abroad, thanks to bitcoin, 400 million dollars He thinks he can save money.

  • If your step towards foreign investors is “to encourage foreign investment” is scheduled for release.

  • Argueta provides some services to track transactions made by citizens with bitcoin. “appropriate mechanisms” Said it was created.

  • “We are implementing some of the advice given by international organizations to prevent money laundering.”

  • Regarding El Salvador’s use of bitcoin, the World Bank advised the government on this issue. can’t help explained.

Image: Nayib Bukele’s own from his Twitter account his ‘laser eye’ post (image modified by Koin Bulletin)

The article titled El Salvador May Exempt Foreign Investors Earning Money From Bitcoin From Taxes was prepared by Ömer SAKMAR and published on koinbulteni.com.