El Salvador is looking to attract foreign investment by adopting major tax breaks on Bitcoin trading.
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.”Argueta reportedly noted that the Salvadoran government would be actively tracing Bitcoin transactions on El Salvador’s official BTC wallet, Chivo, to combat the potentially illegal use of the cryptocurrency. “We are implementin
Źródło: https://cointelegraph.com/news/bitcoin-investors-are-reportedly-exempt-from-taxes-in-el-salvador
