'Withholding' Regulation Accepted for YouTubers: Here's the Withholding Rate That Creators Will Pay
The Ministry of Treasury and Finance has announced how much tax will be applied to people who produce content for YouTube. The Ministry announced that those who earn less than 650 thousand TL will pay 15% withholding tax, and those who do not have a bank account in Turkey will not be subject to tax.
If you remember, we talked to you recently that a new tax regulation will be introduced for content producers. The Ministry of Treasury and Finance, which took over social media platforms such as YouTube, announced that the withholding regulation for YouTubers was accepted in the parliament.
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According to the statements made, people with an income of less than 650 thousand TL from YouTube will be subject to 15%, and those with a higher income will be subject to a higher tax bracket. Although the ministry keeps their bank accounts cross-checked, it will be the creator's responsibility to declare how much he earns.
Those who have a bank account abroad will be considered an exception.
According to the statements made by the Ministry, 14 thousand people in Turkey have earned a total of 4 billion TL in revenue through only one social media platform for the last 4 years. 975 income earners were under investigation, and a tax base difference of 404.7 million TL emerged.
There are two conditions for content producers to pay tax; To reside in Turkey and have a bank account in Turkey. Content producers who meet these conditions are responsible for declaring their income from YouTube to the Ministry of Treasury and Finance. Şenyurt stated that they will follow dozens of people closely and cross-check will be provided, as they have done so far.