-The users may be asked to submit their tax info over the next few weeks.
- If the info is not provided by 31st May, Google will deduct 24 percent of the user's earning worldwide.
YouTubers in India are about to face some bad news. This is mainly about the taxes that a YouTube content creator will be required to pay from June 2021. Google has just announced that YouTube content creators in India and other countries might not stay as rich as they are now as all the non-Americans will be paying US taxes to upload their content.
The users might be asked to provide their tax info in AdSense by May 2021 failing which Google might be required to deduct 24 percent of the earnings worldwide. Google also said that tax will be deducted from the earnings from US viewers. The user will not be required to pay tax if the relevant tax documents have been provided from the money made from the viewers outside US.
If a content creator doesn’t submit tax info…final deduction on earnings is $240 which is 24% of $1000 monthly earnings. If creator submits tax info and claims treaty benefit, then final tax deduction is $15, if he is not eligible for a tax treaty, then final tax deduction is $30.
Anyone making money through YouTube is advised to visit Google’s support page for the relevant tax info and documentation. If the tax forms are not provided, then tax rate will default to 24 % of total earnings for individual accounts.