What is New Tax requirements:
Under Chapter 3 of the U.S. Internal Revenue Code, Google has a responsibility to collect tax info, withhold taxes, and report to the U.S. tax authority known as Internal Revenue Service (IRS). When Youtube creators earn revenue from viewers in the U.S, Google may begin deducting taxes (known as withholding) as early as June 2021.
In this new requirement, all monetizing creators on YouTube, regardless of their location in the world, are required to provide tax info. If your tax info isn’t provided by May 31, 2021, Google may be required to deduct up to 24% of your total earnings worldwide. However, if you submitted your tax info, you will only be deducted from your earning from the US viewers by 30%. This will apply to all youtube creator monetization outside the US.
The revenue can be from: ad views, Youtube premium, superchat, super stickers, and channel membership.