YouTube is set to start deducting taxes from creators outside of the United States on the earnings they generate from viewers in the US.
The company said in an email to creators that the additional tax may come into effect from June 2021.
YouTube also asked creators to submit their tax information in AdSense “to determine the correct amount of taxes to deduct”.
“If your tax info isn’t provided by May 31st, 2021, Google may be required to deduct up to 24 per cent of your total earnings worldwide,” the email read.
On a support page, the company stated that upon submission of US tax info, withholding rates would be between zero per cent and 30 per cent on earnings generated from viewers in the US and also depended on whether the creator’s country had a tax treaty relationship with the US.
READ ALSO! Nigerian Central Bank Approves Disbursement Of Loans For Creative Industries At 9%
READ ALSO! Tony Elumelu To Empower 1,000 Northern Entrepreneurs With $5000 Each
READ ALSO! How To Empower Yourself And Generate Income From Mutual Funds
READ ALSO! Is N-Power Truly Empowering Nigerian Youths?
READ ALSO! How Nigerian Govt Can Lift 100million People Out Of Poverty — Tony Elumelu
READ ALSO! TraderMoni: Poverty Alleviation Or Political Leverage?
READ ALSO! Is N-Power Truly Empowering Nigerian Youths?
READ ALSO! Gtbank 737 Disservice: How to Kick Your Customers in the Butt!
READ ALSO! Why The North Remains Headquarters Of Poverty In Nigeria — Kingsley Moghalu
READ ALSO! The Love Of Your Life Is An Illusion: It Doesn’t Exist Anywhere!