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Which country is planning a city with no property, income, or municipal taxes and zero carbon dioxide emissions?

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Which country is planning a city with no property, income, or municipal taxes and zero carbon dioxide emissions?

El Salvador President Nayib Bukele announced Nov. 20, 2021, that his government would build an oceanside “Bitcoin City” at the base of the Conchagua volcano – with no property, income, or municipal taxes and zero carbon dioxide emissions._x000D_

Which taxes will Bitcoin City have?

_x000D_The only tax collected in El Salvador’s Bitcoin City will be the value-added tax, half of which will be used to pay the city bonds and the rest for municipal infrastructure and maintenance. Bitcoin has been legal tender in El Salvador alongside the U.S. dollar since Sept. 7, 2021._x000D_

Why build a city at the base of a volcano?

_x000D_The new “Bitcoin city” will be built near the Conchagua volcano to use geothermal energy to power both the city and Bitcoin mining. The El Salvadoran government is already running a pilot Bitcoin mining venture besides the Tecapa volcano.

Extra questions & answers

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