El Salvador ends income tax on foreign funds after launching 'Bitcoin Passport'
El Salvador recently passed a new law that eliminates income taxes on foreign money coming into the country. This news was announced on X (formerly Twitter) by Nayib Bukele, the self-described ‘coolest dictator,’ who has become a prominent player in the crypto ecosystem thanks to El Salvador declaring bitcoin a compulsory tender and investing public funds into bitcoin and bitcoin mining. This change follows a recent initiative that will allow Bitcoin investors to purchase a visa and eventually become eligible for citizenship in El Salvador . Congress has reformed our income tax law, for international investments and money transfers, dropping the rate from 30% to 0%. La Asamblea ha reformado la ley del impuesto sobre la renta, para inversiones internacionales y transferencias de dinero, bajando la tasa del 30% al 0%. https://t.co/YRDVegSbb5 — Nayib Bukele (@nayibbukele) March 13, 2024 Read more: Did Bukele lie about El Salvador’s bitcoin profits? Bukele is a...