YouTube will impose US tax on bloggers

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YouTube will impose US tax on bloggers
YouTube will impose US tax on bloggers
11 March 2021, 15:17Economy
Google is planning to introduce taxes for foreign YouTube bloggers in June this year, including for citizens of the Russian Federation.

According to Kommersant, Google sent out a message to bloggers demanding that they provide tax information to AdSense, a Google advertising division.

“The plan is to tax income from viewing content from the United States. Its size can be from 0 to 30%, depending on the existence of an agreement on the avoidance of double taxation between the countries", - said the TV channel Rain.

Between a number of countries, for example, between Russia and the United States, such an agreement is in effect, so the rate may be zero. For bloggers who respond to Google posts in time, tax incentives may be introduced to avoid double taxation.

However, if users ignore the email and do not submit tax information about themselves, then all of their income from YouTube will automatically be taxed at a rate of 24%. In this case, the tax will be levied not only on income from viewers from the United States, but on the entire amount of income received from advertising.

A day earlier, it became known that the Russian authorities are also developing a program to introduce an additional tax on foreign social networks. According to the plans of the Ministry of Digital Science, all foreign platforms want to force them to pay income tax to the Russian budget for Russian bloggers who receive money from advertising.

According to analysts' data, some popular bloggers have online ad revenues of up to $ 3.5 million. The total annual income of Russian bloggers from advertising in video hosting alone is estimated at more than 18 billion rubles.

At the same time, bloggers receive money from paid advertising to their personal account, which banks and tax authorities do not perceive as commercial if the payment does not exceed 500 thousand rubles. Because of this loophole, the budget loses billions of rubles annually.

The ministry's plans to introduce taxes on foreign social networks will affect not only YouTube, but also Facebook, Instagram, Twitter and TikTok.

In addition, the Russian authorities have come up with an initiative to introduce another additional "tax on Google" in the country, the proceeds of which will go to the development of the domestic IT industry.

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