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El Salvador to Exempt Foreigner Investors from Tax on Bitcoin Price Gains

El Salvador to Exempt Foreigner Investors from Tax on Bitcoin Price Gains



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7 Comments

  1. tldr; El Salvador will not require foreign investors to pay capital gains taxes on profits from Bitcoin, a government adviser to the country’s President Nayib Bukele has said. “If a person has assets in bitcoin and makes high profits, there will be no tax,” he added. El Salvador became the first country to make Bitcoin legal tender on Tuesday.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. Nayib Bukele understands the value of attracting the Bitcoin community to his country. The first Bitcoin nation will attract a whole community of talented entrepreneurs ready to participate in building the world of the future.

  3. El Salvador citisenship would be great, but they have a weak passport and not enough agreements with other countries on paying double taxes. He should improve on these things so that people can move into Salvador.

  4. I’d imagine this only goes for any Bitcoin purchased as a resident of El Salvador. There is no way the US government isn’t going to want capital gains tax on all the Bitcoin purchased over here even if someone does take the move.

What do you think?

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