Google: "Domestic YouTubers Must Also Pay 'US Taxes'"

[Asia Economy Reporter Buaeri] From now on, domestic YouTubers will also have to pay taxes to the U.S. government on income generated from U.S. viewers.

On the 10th, Google announced, "According to U.S. tax law, starting as early as June, creators outside the U.S. who earn revenue from viewers within the U.S. will be responsible for withholding taxes."

They added, "Please submit your U.S. tax information to AdSense as soon as possible."

According to Google, all creators generating income on YouTube must provide tax information regardless of their location worldwide.

Google explained, "If tax information is not submitted by May 31, Google may withhold up to 24% of the creator's total global earnings."

The basis for withholding is Chapter 3 of the U.S. Internal Revenue Code. Google collects tax information from all creators earning revenue outside the U.S. and is responsible for withholding taxes depending on the situation when revenue is earned from U.S. viewers.

Meanwhile, according to the '2019 Income Percentiles of Individual Media Creators (YouTubers, etc.)' data released by the National Tax Service, the top 1% high earners, consisting of 27 individuals, earned a total of 18.125 billion KRW annually. The average income of YouTubers was 671 million KRW, accounting for 21% of the total income (87.511 billion KRW).

This content was produced with the assistance of AI translation services.