today-is-a-good-day
4.3 C
New York
Thursday, March 28, 2024
HomeNewsYouTube to start deducting taxes from Nigerian content creators

YouTube to start deducting taxes from Nigerian content creators

Nigerian content creators on YouTube will start paying tax in a matter of few months.

According to YouTube, the taxes will be deducted from creators outside of the United States on the earnings they generate from viewers in the US.

The company said in an email to creators that the additional tax may come into effect from June 2021.

YouTube also asked creators to submit their tax information in AdSense “to determine the correct amount of taxes to deduct”.

“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,” the email read.

Advertisements

On a support page, the company stated that upon submission of US tax info, withholding rates would be between zero per cent and 30 per cent on earnings generated from viewers in the US and also depended on whether the creator’s country had a tax treaty relationship with the US.

YouTube said its parent company Google had the responsibility under Chapter three of the US Internal Revenue Code to collect tax information, withhold taxes, and report to the Internal Revenue Service when a creator earned royalty revenue from viewers in the US.

Advertisements

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Recent Comments

Onuegbu Chuks Theophilus on Mikel Obi quits Super Eagles
Thomas H. Anderson on Roman Goddess_3
Oladimeji Emmanuel on Obama sends investors to Buhari