YouTube unveils plans to introduce taxes

YouTube's updated terms of use provide for the right to monetize the content by the video-hosting from the first day of summer.

Report informs, citing gazeta.ru, that taxes will also be introduced for those bloggers who live outside of the United States. The revenues from hits will be taxable. It means the revenues received via YouTube Premium, superchat, and sponsorship.

Until the end of May, bloggers will have to provide the Google AdSense service with a TIN, the name of the legal entity, and the commercial name. If these data are not submitted until May 31, 2021, they may have to pay up to 24% of their revenues from hits.

The new norms will become valid from June 1, 2021. A user posting his/her material agrees that he/she gives YouTube the right to monetize his/her content in the service, show a commercial inside the content or charge other users for access to it.

All the same, a person, who posts the material, does not have the right to get any payments.

Any amounts that the user has a right to get from YouTube under other agreements between him/her and the service, including the income from the sponsorship, superchat, and participation in the partner program, will be considered royalty from June 1. If the legislation requires, Google will withhold taxes from such payments.

The collection of any information, which can identify a person without his consent, will also be prohibited.