As you may have heard, it is the first country to accept BTC as a means of payment. According to France24, which cited Agence France-Presse, the country has no plans to charge a tax from foreign depositors who make money on BTC.
Javier Argueta, the legal advisor to El Salvador’s President Nayib Bukele, shared with AFP that “if a person has assets in bitcoin and makes high income, there will be no tax.” The goal, Argueta said, was to stimulate investments.
Financial authorities within the country have selected this virtual asset as a way to make access to banking better and make the cost of transfers lower.
