President of Colombia Proposed Tax Exemption for Crypto and Blockchain Startups
According to Criptonoticias, the President of Colombia, Iván Duque, proposed a tax exemption over income for 5 years to all the startups of the technological sector, among them the ones related with cryptocurrencies, crypto assets and blockchain.
Another announcement by the President related with the sector is the creation of a new figure in the Presidency: High Council for the Transformation and Digital Society, which will define strategies, along with the ministeries, to create short, medium and long term politics to pave the way for the growth of the companies related with crypto economy and blockchain.
“We want companies to be constituted in order for Colombia to become an important player in the sector; sometimes tax policies of this country are designed to be an obstacle for them. That is why in the economic reactivation we are proposing, and I’ve been talking about this from a long time, this tax exemption to move forward andbenefit all the companies from these sectors, for them to create a minimum amount of jobs in the country and to generate the investment capacity required”.
Other technology companies that might benefit from this propose are the ones focused on artificial intelligence, big data, cyber security, cloud computing, chatbot and machine learning.
Read the full article in Criptonoticias: