YouTubers Are Now Required To Pay Taxes Under A New Law

The specifics of a new law requiring social media influencers and online content providers to pay taxes depending on their advertising revenue have been revealed. According to the law, YouTubers earning less than $77,900 would be subject to a 15% withholding tax in 2022, and they will not be required to file a declaration as long as they open an account with one of Turkey's banks.

If it is proven that a bank account has not been formed in Turkish-based banks and that the complete revenue has not been placed in the bank account or has been deposited partially, YouTubers will face a tax penalty. Furthermore, taxpayers who do not meet the exemption requirements but are found to have cheated the system will be subject to a fine.

In 2020, approximately 20,000 Turkish citizens received money on social media platforms, according to data from the Revenue Administration. According to a survey conducted between 2018 and 2020, an average of 14,000 persons earned over 4 billion liras ($352 million) through social media platforms.

The ruling Justice and Development Party (AKP) has been working on a taxation law for a while, following the Treasury and Finance Ministry's investigation into bank transactions of Turkish YouTube stars to issue them tax assessments at the beginning of this year. In October 2021, the Turkish Parliament passed a measure requiring social media influencers to pay taxes based on the cash they generate online through advertising.