YouTube announced that it will begin deducting taxes from payments to creators outside the United States starting in June 2021. In an email to content creators, Google stated that it is required to deduct U.S taxes from payments to creators outside of the U.S. under Chapter 3 of the U.S. Internal Revenue Code.
Earnings made from YouTube Premium, Super Chat, Super Stickers, and Channel Memberships will be taxable. Creators are required to submit their tax information by May 31, 2021, or risk having up to 24% of their total earnings worldwide deducted by Google. This policy will only apply to income earned from viewers within the United States and applies to all creators outside of the U.S, including those in Nigeria.
YouTube, with over 2 billion users worldwide, has been a popular platform for creators to make money from producing videos.
how to make money with youtube from Nigeria
There are several ways to make money on YouTube from Nigeria:
- Advertising revenue: As a YouTube Partner, you can monetize your videos by displaying ads. The more views and clicks your videos get, the more you can earn.
- Sponsored content: Companies who want you to feature their services or products in your videos may pay you.
- Affiliate marketing: Affiliate marketing is a way to earn money by promoting other people's products or services and receiving a commission for any sales made through your unique affiliate link. you can include these linka as Cards to your video
- YouTube Premium: YouTube Premium is a paid membership that allows users to watch videos without ads, access exclusive content, and use YouTube Originals. As a content creator, you can earn money from members who watch your videos through YouTube Premium.
- Channel Memberships: You can offer exclusive perks and content to your fans who pay a monthly subscription fee to be a part of your channel.
- YouTube Live: You can monetize your live streams by enabling Super Chat, where fans can make a donation by paying to have their message highlighted in the chat.
- Product sales or services: You can also use your YouTube channel to promote and sell your own products or services.
It's important to note that in order to start making money on YouTube, you will need to meet the YouTube Partner Program requirements and have at least 1,000 subscribers and 4,000 hours of watch time on your channel.
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