Many content creators on the YouTube platform may have trouble making money from the platform this year as the popular site prepares to deduct taxes for all content creators outside the United States of America.
According to the Russian agency “Sputnik” of “9to5google”, the company “Google”, in an email, informed all YouTube users that it would be “obliged to deduct US taxes from payments to content creators outside the United States “, which means US YouTube users will not pay tax, while this tax will apply to platform users outside the United States, and this additional tax may begin to be deducted for YouTube users outside of the United States. United States from next June.
The US company says that the requirements for withholding taxes may differ depending on the country of residence and if you are eligible to apply for benefits from tax treaties between countries, and if you are an individual or represent a commercial activity.
The company cautioned that if tax information is not provided by May 31, 2021, Google must deduct up to 24% of the content creator’s total earnings worldwide.
In this regard, it is recommended that YouTube content creators visit Google’s support page to obtain the relevant tax information and documents, keeping in mind that the deadline for submitting this is May 31, 2021.
Source: Sputnik
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