Salvadoran lawmakers pass tech tax cut, including for AI businesses

El Salvador’s ruling party lawmakers approved a bill to eliminate for 15 years taxes on companies developing artificial intelligence (AI) and other computer programming work in a bid to make the country a more attractive tech destination.

The tech tax cut was championed by President Nayib Bukele, who first touted the legislation late last month.

Bukele’s New Ideas Party dominates the country’s Congress.