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Category: Business
The Truth About Volcano Bonds Is Finally Here! (Almost)
In September of last year, the announcement of a so-called ‘Volcano Bond’ by the government of El Salvador captured lots of attention. Basically it is a sovereign ‘energy-backed’ bond in the amount of $1 billion, with half of the raise used to buy Bitcoin, and the rest funding the geothermal-powered ‘Bitcoin City’, designed by Fernando Romero…
Bitcoin Embassy
Welcome to the Bitcoin Embassy San Salvador! Here’s the location: WAZE GOOGLE OpenStreetMap You can park for free on the street next to the Embassy. We offer co-working space and internet, and buffet service for breakfast and lunch with plenty of great coffee 🙂
Taxes In El Salvador
Here is an overview of the tax structure of El Salvador: Currency: US dollar (USD); Bitcoin (BTC)Foreign exchange control: There are no foreign exchange controls.Accounting principles/financial statements: IFRS applies. Financial statements must be filed annually.Principal business entities: These are the stock corporation, limited liability company, and branch of a foreign entity. Corporate taxation = 30% (standard rate)/25%Branch tax…
A Guide To Corporate Inversions In Bitcoin City
A corporate inversion (also called a tax inversion), is a restructuring process where a foreign company is created in a more favorable tax jurisdiction, and the currently operating parent company is completely purchased by the foreign company. In this way, the original parent becomes a subsidiary of the foreign parent, thus moving its tax residence…