YouTube announces taxation of content creators
YouTube announced its intention to withhold specific taxes from producers of content on its platform in the United States in the coming months.
YouTube asked its channel owners to provide their financial and tax information, in a procedure aimed at facilitating and organizing the tax deduction process.
Google, which operates YouTube, said in a statement that it may start withholding US taxes on profits related to the number of views in the United States in early June.
The company warned, "If your tax information is not submitted by May 31, 2021, Google may be required to deduct up to 24 percent of your total profits around the world."
Google pointed out that "for content makers outside the United States, we will almost update our terms of service as your earnings from YouTube will be considered as revenues from the US tax perspective."
The site justified the move because it came in light of a request directed to it to collect tax information from the content makers in the YouTube Partner Program.