YouTube Set To Deduct  24 percent Taxes From Nigerian Content Creators, Others

YouTube said it will begin tax deductions on the earnings of content creators outside the United States, a move which is set to hunt Nigerian creators.

The deductions will only affect earnings generated from U.S. viewers, the company told owners of  YouTube Channels.

According to YouTube, the new policy would take- off June this year, as the deduction would be on every $100 earned by the creator.

The biggest content creation platform expects creators to provide their AdSense tax details to determine the correct amount to be charged.

YouTube which said it’s parent, Google, has the backing of the U.S. law to deduct such taxes cited the the Chapter three of the country’s Internal Revenue Code.

The law enables the U.S based tech giant to collect tax details, withhold taxes and report such to the Internal Revenue Service.

YouTube said, “Please submit your tax info as soon as possible. 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.”

Apart from revenues from views, the company will be accounting for taxes on channel memberships, Super Chat and chat donations.

For those who qualify under the U.S- India treaty, only 15 per cent would be deducted from earnings U.S viewers.

Leave a comment