https://watcher.guru/news/el-salvador-president-to-eliminate-all-taxes-on-technology-innovations

In a recent tweet, Bukele notes that all taxes, including income, property, and capital gains, as well as import tariffs, will be eliminated. Additionally, this hasn’t come to fruition yet. The President said that he will be sending a bill to Congress next week.

Furthermore, the President notes that “technology innovations” will include AI development, coding, and apps, among others. Elaborating on the same, Bukele tweeted,

I am not going to disagree with you completely Doan9269; however, I doubt that a government is in the business to be benevolent and charitable, and in that regard, governments cannot carry out their purposes through voluntary measures - even though there are likely ways that governments can generate income without strictly taxing various sectors - which seems to be part of El Salvador's attempted direction that is aimed towards ongoing attempts to attract technological innovations and developments into El Salvador.

Whether such systems are sustainable might be another question, and for sure, I am not ant-government because personally I believe that there are various roles for government, and bitcoin seems to be inspiring different ways to structure and to provide incentives - while at the same time bitcoin is a world-wide phenomena so if there are a variety of competing and complementary systems that are interacting with each other, no one system can be completely considered in a vacuum, even if a country is able to set up a large number of self-sustaining systems - and I doubt that anyone is suggesting that El Salvador has enough resources to completely isolate itself from the rest of the world, so in that regard, if El Salvador is able to sustain the impression that it is a place of innovation, then they can attract and build capital.. but any of us should realize that the mere attracting, building and growing practice is not necessarily sustainable.. even though it can be quite prosperous while the attracting and building is going on and even sustainable over several generations, so it is not even necessarily a bad model to engage in practices that strive to attract labor, capital and growth - even though sometimes there can be reluctance from one regime to another in regards to whether even their policies are going to continue, so when they put them to practice they may well become more credible over time, and at this point, El Salvador is ONLY less than two years into announcing that it was getting into bitcoin, so surely a lot of the attempts at snowballing into becoming a "technological hub" is still in the earliest of stages, and likely even scary for some longer term bitcoiners to perhaps start to wonder if they might be devolving into shitcoins too.. and does that interfere with their earlier seemingly focus on bitcoin? 

The answers are not always going to be clear, and sometimes people might start to feel that there is too much deviance from the original path (bitcoin in this case).. and sure I don't want to prejudge any of this because it seems that El Salvador does still seem to be keeping bitcoin developing and networking as its foundational ideas, but still I wanted to just to express some assertions that governmental practices and adoptions are not necessarily straight-forward and non-controversial and sometimes can deviate into potentially controversial and less than straight-forward directions, even if some of us may well continue to agree that they are heading in the right direction and that they have not lost their path (or lost the bitcoin plot), yet.  Don't get me wrong, bitcoin remains a fairly complex topic that touches upon a lot of areas of society, and there are likely a lot of ways that other kinds of interventions and innovations and research can be accepted and acceptable without losing the plot.. even though sometimes it can be difficult to determine whether there might be deviance into shitcoinery.. or that ideas of "no taxes" is misleading, because governments might be cutting taxes in one area or another area, but they are potentially able to make those kinds of cuts in taxes in one area or another because they are relying upon generating revenue in other areas..and potentially new areas that are based on the attraction of industry rather than necessarily raising rates in other areas (while that growth and attraction of enterprises is still able to last).

What state are you referring to by "took crime away"?  Definitely not El Salvador since at those latitudes you will never be able to remove the crime and I invite you to read up on the infamous areas of the country such as Soyapango.  Even if they have been hit hard by the government they will regroup in no time.

That is correct, and only the early adopters can potentially earn the most benefit. Just like using Bitcoin. Of course things can go bad, its not the first time a wonderful project gets crushed by "external" events (like a coup). This is a disease of our developing countries. My country currently has no light at the end of the tunnel, but at least El Salvador has. We can only cheer for Salvadorians to keep this going and shine the light to the rest of the world.

All you said is just common words: which exact underwater stones do you mean? We discussed many things which can be risky in this case during tens of pages of this topic, so we know that things can go as right as wrong. But what do you exactly mean?

When I look at what the gov of El Salvador does I guess they read what we discuss here and if something has sense they try to do their best to improve it. At least I saw that first we discussed something and then there was some news saying that they did something in that direction. So if you see any concrete possible problems then just name them, it can probably help to avoid them.

I know what you mean by saying that it is a double-edged sword because of the risk that the government of El Salvador must really understand, right? It seems you don't really know who the president of El Salvador is. You need to know that the president of El Salvador is a person who really loves, really likes and really appreciates Bitcoin so that the government made the decision to legalize Bitcoin in the country of El Salvador which of course really understood the risks before making that decision.

The success and progress of a country does depend on several factors, and of the three factors you mentioned, I think the environmental security factor is very influential in increasing economic and political growth as well as tourism there in El Salvador. If you often read tweets made by Nayib Bukele, of course you know that Nayib Bukele has succeeded in making the environment of the country of El Salvador very safe from the previously very frequent murders.

I have my doubts about whether the term "crypto-friendly" is appropriate.

Start out by thinking about El Salvador is intending to be bitcoin friendly, and so the fact that it is "bitcoin friendly" then do you conclude that it is automatically "crypto-friendly?"

I have my doubts, even though in one of the more recent announcements, El Salvador is saying that they are friendly to "technological innovation," which still is likely not exactly the same as "crypto-friendly," even though there could be several ways that they tolerate various expectations that relate to bitcoin, which sometimes might end up being affinity scams.   

I would characterize an affinity scam as something that is trying to seem like it is either the same to bitcoin, similar to bitcoin or even building upon bitcoin, yet in the end, it ends up not providing any kind of legitimate service because one or more of its "short-cuts" or "innovations" is actually employing some kind of a deception in which some kind of a scam or misrepresentation is taking place  - or even a kind of "printing of money" in terms of the creation of a token when a token may not be needed or properly disclosed how and when it is created.

From my point of view, there seems to be some tensions in your wanting to characterize (or maybe group in?) El Salvador as "crypto friendly" when that seems to be a term that you are largely just adopting from the various affinity scammers and even various mainstream media, bitcoin naysayers, shitcoin pumpers who love to ambiguate and dilute the ideas of what bitcoin is.  Was that your intention HedgeFx?  or do you actually sufficiently know what bitcoin is in order that you really know what you are talking about when you suggest that El Salvador is "one of the 'crypto-friendly' countries"?

To me it comes off as you don't really know the topic well enough or even appreciate what El Salvador is doing and attempting to do, if you are suggesting that it is "crypto-friendly," and I will admit that I might not know about some of the ways in which El Salvador might be more "crypto-friendly" or crypto tolerant than I had presumed it to be, merely because it is promoting the use and adoption of bitcoin in its country and the various ways of recognizing what is valid legal tender.  I will grant that it could be possible that El Salvador was a bit too broad and non-specific in their definitions in regards to what is bitcoin in terms of its own legal tender laws?  Which may well not be any kind of a problem unless there could be some ways that it overly invites and allows some affinity scams to get their foot in the door and to suggest that they are being "technologically innovative."   I am not going to proclaim to know all of the possible boundaries and ambiguities, and I would imagine that there are quite a few tensions that continue to exist, even between the kinds of motivations that a sound money like bitcoin creates as compared with various aspects of existing fiat systems, and surely in recent times, we are seeing some of those tensions unfold in terms of various bank failures and then some of the blame that is thrown at crypto and bitcoin, but still bitcoin and crypto are not the same thing, so some of the blame and attempts to address "what went wrong" might not be being presented in very clear ways either.

I guess we are all on thesame track in this, the government need to make things at every affordability make readily available for the people to enjoy especially the masses, well, as regards the tax of a thing that is ongoing, we could see how other countries were so strict in collecting tax from bitcoin miners or any organizations well identified with bitcoin and i have to take USA and India as a xase study in these, they just don't take it easy when it comes to paying tax despite they are bitcoin friendly countries, let's consider El-Savador and the kind of leadership Nayib Bukele has established with the people, he has always assumed himself been in their shoes before making any declaration of policy as a leader.

Other interest earning organizations can be taxed because they were in for business but the people should be the major target, these are the common citizens that have no much access to afford paying tax from their income, the government of El-Savador is trying to give out to them first, so that everyone can be well established by improving the standard of living before demanding anything like tax related obligations from the citizens.


Obviously no, El-Savador is well known for bitcoin and that only, everything it has been engaging were on the platform of the adoption through bitcoin in other for the people to have a better experience in using this digital currency, you can imagine a centralized government taking much effort towards implementing a rigorous stand for a decentralized network, this shows that bitcoin is not only Nayib Bukele priority and center of focus but the entire people also needs it for them to enjoy decentralization under a centralized government, and they cant compromise this with alts.

El Salvador might become in the future financial centre