YouTube released an announcement video for content creators the other day and stated that they will cut US taxes. This will affect all content creators in other countries, including Turkey. YouTubers without a tax number will pay more tax.
YouTube will get tax from US views
Platform revenues have also been a major problem in Turkey, and even a Retrospective tax legislation has begun for almost everyone who creates content and earns income on this platform. While Turkish YouTubers were just experiencing this, now one bad news came from America. According to the information in the video, this tax cut will begin in June. Moreover, tax deductions are not only for the income from watching videos, but it also covers all YouTube revenues.
There are two different options for these tax cuts. The company stated in the e-mail it sent to content creators that if they specify their tax numbers, the tax rate will be determined accordingly, and tax will be deducted for these people only for their income from the United States views.
For content creators who do not specify a tax number, tax deductions can be up to 24% of the total revenue they earn from the platform. In other words, this means that they have to pay taxes according to their total income from the platform. Creators must provide tax information via AdSense by 31 May 2021.
YouTube has also pointed out different situations
Some creators also have the right to claim tax deductions after submitting their tax information. In line with this request, they can pay $15 instead of $30. Those who are not eligible for this deal have to pay $30. This situation is actually due to a tax treaty between America and India.
YouTubers are currently paying taxes to their countries on their earnings and have tax agreements between countries. These agreements are made to avoid double taxation. In this case, it is a matter of curiosity what action will be taken, whether there will be double taxation for the income obtained from the US views. Because, if the tax number is not given, the tax will be deducted from the total income. This means double taxation for Turkish YouTubers.
You can follow the news on the subject as Mobidictum. We will continue to convey the developments.