YouTube announced that it will start deducting U.S taxes for all creators on its platform including Nigeria on the earnings they generate from viewers in the US.
The Google-owned company has been a useful platform for anyone with creativity and determination to make money from producing videos and a lot of people have been making a living from YouTube.
The new policy will take effect as early as June 2021. In an email to creators, YouTube states that “We’re reaching out because Google will be required to deduct U.S taxes from payments to creators outside of the U.S. later this year (as early as June 2021).
“Over the next few weeks, we’ll be asking you to submit your tax info in AdSense to determine the correct amount of taxes to deduct, if any apply. If your tax info isn’t provided by May 31, 2021, Google may be required to deduct up to 24% of your total earnings worldwide.”
This change applies to all creators outside of the US, including the ones in Nigeria. However, there won’t be any similar tax deduction for creators living in the US.