It’s bad news for YouTube content creators and talented video producers all around the world, including India.
Google-owned YouTube has announced it will deduct taxes from payments to creators outside of the US.
In an email to YouTubers, the tech giant said that additional tax for non-US-based creators is going to be levied on them by 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 per cent of your total earnings worldwide,” Google said in the email.
The move is likely to hit the YouTube creators’ community hard
YouTube has asked creators to submit their tax information to AdSense to understand the correct amount of taxes to be deducted.
How much tax will be deducted from content creator’s earnings will depend upon a number of factors.
The tax rate is expected to be up to 24 per cent of total earnings worldwide if a creator does not submitted tax info.