Top 1% YouTuber annual income of 700 million… Are you paying taxes well?

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For the first time, the amount of income that YouTubers reported to the IRS was disclosed. The top 1% of about 30 people earned an average of 700 million won a year. The National Tax Service is monitoring the industry as a whole to see if the tax was paid well.

This is reporter Jo Sung-hyun.

YouTubers boasting millions of subscribers for food, beauty, and children-related materials.

Depending on the number of views, it is known that not only advertising revenue received from Google, but also sponsored advertising revenue is earned, but the exact amount of income has never been disclosed.

After the IRS classified media content creation as a new industry code in September 2019, the contents of the first income declarations of YouTubers who reported with this code became known.

It was confirmed that 2,776 people reported to YouTube and other business operators and earned an average of 31.5 million won per person per year, with an income of 87.5 billion won.

The top 1%, 27, earned nearly 700 million won a year, while the bottom 50% earned only 1 million won per person, widening the gap.

You can now get information on YouTubers’ income, but there are still taxation blind spots.

As foreign companies directly receive advertising fees, tax evasion is being detected, such as bypassing profits through overseas accounts that are difficult to track or distributing profits to borrowed accounts.

[홍기선/세무사 : 해외에서 송금이 들어온다 하더라도 (일정 금액 이하는) 국세청에 통보가 안 되어서 그 부분이 과세 사각지대에 놓이게 되고요.]

Since last year, the National Tax Service has been conducting a detailed analysis of foreign exchange transaction data for foreign exchange transactions of more than 1,000 US dollars and 1 million Korean won since last year, and it plans to supervise tax evasion through overseas accounts by exchanging financial information between countries.




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