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Oct 14, 2024 · YouTube Revenue. YouTube improved its percentage revenue growth from 1.3% in 2022 to 7.8% in 2023. It generated $31.5 billion in 2023. YouTube advertising revenue 2018 to 2024 ($bn)
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For self assessment, you add up all your income, from all jobs, and calculate the tax owed. You minus off the tax already paid from all jobs, and pay the difference. For 2021/2022 tax year, you would need to file electronically and pay what you owe by Jan 2024 latest.
- Overview
- What is tax withholding?
- What if I don’t earn revenue from viewers in the U.S. on my channel?
- What criteria are you using to determine if I am a U.S.-based creator or not?
- What kind of tax reporting documents does Google provide?
- Does this apply to my AdSense earnings aside from YouTube?
Important: As we approach the end of the year, monetizing creators should check their tax info in AdSense for YouTube. Make sure you submit a tax form, and if eligible, claim a tax treaty benefit by Dec. 10, 2023. Where relevant Google will recalculate 2023 taxes and refund the difference.
If you don’t share tax info, Google may be required to withhold taxes worldwide using the maximum tax rate. If you do share your tax info, your tax rate may be up to 30% of your U.S. income.
Check your tax info and claim a tax treaty benefit:
Make sure we got your tax info. Double check that your tax form status is a green “Approved” in AdSense for YouTube.
Confirm with your tax advisor if you’re eligible to make a claim for treaty benefits. A tax treaty benefit can reduce the tax withholding rate for certain income types:
Other Copyright Royalties (such as YouTube Partner Program and Google Play)
Simply put, tax withholding is when taxes are deducted from your payments so that they can be paid to a government to satisfy the payee’s U.S. tax liability.
Under U.S. tax law, Google is a withholding agent required to comply with U.S. tax law, and where required, to withhold taxes on relevant YouTube earnings.
How will this affect my income on YouTube??
Only the portion of your earnings from viewers in the United States will be subject to tax withholding and reporting if you provide valid tax information.
The exact rate of tax withholding will be determined by the tax info you provide to Google. You can view your tax withholding rate in the Manage tax info section in your AdSense for YouTube Payment Settings once you submit your form. Tax withholding amounts are not visible in YouTube Analytics.
Hypothetical example
All YPP creators should submit tax info to Google regardless of if they earn revenue from viewers in the U.S. or not. In case you earn revenue from viewers in the U.S. in the future, submitting your U.S. tax info will help determine the correct withholding rate for you.
Your location is determined by the country of residence you declare in your tax info.
Does this mean I will be taxed both in my country of residence as well as in the U.S.??
Google is only required to withhold U.S. taxes from your YouTube earnings from viewers in the U.S. Your local income tax laws may still apply to your YouTube earnings.
Many countries have tax treaties that reduce or eliminate double taxation. In addition, certain countries may allow for foreign tax credits to help reduce international tax burdens. By claiming a tax treaty in the tax tool in your AdSense for YouTube account, you may be able to reduce your tax burden. Please consult your tax advisor. Learn more here
You will see finalized tax withholding amounts in your Payments Report according to your payment cycle. Amounts withheld are usually visible in the month following payment – for example, withholding amounts for April are listed in the payments report for May. If there are payment holds or other issues on your account, finalized tax withholding amounts for multiple combined months may be listed in the payments report at a later date.
All creators that submit tax info and who receive eligible payments, will receive a tax form (e.g. 1042-S,) on or before April 14 of each year for the previous year’s tax withholdings (Forms 1099-MISC issued to US creators are typically issued by early March). Visit our Help Center to request a copy, revision, or to void a year-end U.S. tax form.
Tax document delivery preferences
Your document delivery options and document statuses for year-end tax forms you receive are under Settings Manage tax info in the tax tool in your AdSense for YouTube account. You can choose online delivery of digital tax documents or select paper mail.
• If you select online delivery, you'll receive documents online only.
• If you select paper mail, we'll send documents to the mailing address provided on your tax form and your documents will still be available online.
If you provide valid tax info, the U.S. withholding taxes under Chapter 3 should only apply to your YouTube earnings.
How much income tax will I pay on my YouTube earnings? The following is based on tax rates and bands for 2023/24 . If you have no income from any other sources, i.e. another job, then the first £12,570 you make each year is tax-free.
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Jul 2, 2024 · In 2022 YouTube revenues made up over 11 percent of all of Google’s global revenues. In 2021, Google’s revenue in the UK amounted to approximately 3.4 billion pounds, generating a net...
Jun 24, 2024 · During the first quarter of 2023, YouTube was able to successfully generate a revenue of about $22.31 billion. In 2022, YouTube generated $29.24 billion in revenue, witnessing a rise of 1.53% compared to the previous year’s figures of $28.8 billion.
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Apr 30, 2023 · In 2022, YouTube generated $29.23 billion. In this article, we’ll look at how YouTube revenue is currently being captured and how this part of the "Googleverse" is planning on profiting in...
