Google will start deducting tax fees from monetizing creators living outside the United States, YouTube announces in latest update.
According to YouTube, Google has a responsibility under Chapter 3 of the U.S. Internal Revenue Code to collect tax info from all monetizing creators outside the United States and deduct taxes in certain instances when they earn income from viewers in the US.
Google will deduct taxes as early as June 2021 and may start collecting tax info in the coming weeks. If a creator failed to submit by May 31,2021, Google may deduct 24% from their total earnings worldwide.
This changes only apply to creators living outside the United States, creators from the US will not be affected by the changes since they already submitted their tax info and paying taxes from the start.
Here’s the announcement from YouTube Team.
We’re reaching out because Google will be required to deduct U.S. taxes from payments to creators outside of the U.S. later this year (as early as June 2021). Over the next few weeks, we’ll be asking you to submit your tax info in AdSense to determine the correct amount of taxes to deduct, if any apply. If your tax info isn’t provided by May 31st, 2021, Google may be required to deduct up to 24% of your total earnings worldwide.
If you are a YouTube Creator outside US and a member of YPP, you can update your tax info by logging in to your AdSense Account, go to Payments, Settings, then update United States Tax Info in Payments Profile.
You may also visit the Google support page for more details.
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