Can any buddy tell me, from my earning some of the amount is deductcting in the name of US Royalty Withholding Tax, why US Royalty Withholding Tax, from last week of March 2020. ?
For reducing US backup withholding tax (24%) you should to submit your TAX information form. If you submit the form with your TAX information then only tax will be taken for US sale and TAX percentage depends on your country.
US Tax Treaties:
Otherwise you have to give US backup withholding tax (24%) for all of your sale.
But for getting that tax facility you have to provide TAX information through settings=>tax information.
Thanks for information, @mgscoder
I am a individual i didn’t have tax number, tax reduced for this month only(March) ? Or it will get deduct for upcoming months too ?
if you don’t provide tax information then the tax will be taken for all of your sales untill you will provide tax information.
Tax Information & Form W-8 Requirements for non US Authors:
Thank for kind information,
Please find the attachment,
Submitted on Sep 15, 2018 and it is expire on 1st January 2022,
is it necessary to submit it again ?
as you have already submitted and not expired then no need to submit again. according your country Treaties should collect 15% tax for US sales. so if your tax deduct 15% for US sales then all is going fine.
But total deduction percentage is 30%, but before 29 March it is not deducted ? and some of the money in “tax withheld”. is the same percentage of will be deduct in upcoming sales(30%) ?
for getting that tax facility you have to provide TAX information through settings=>tax information. When you complete your tax information, you must also provide Tax Identity Number, otherwise, Envato are required to deduct royalty withholding tax of 30% on your sales to US customers.
may be you din’t provide Tax Identity Number and in this case yes for all upcoming US customers sales. can you share the screenshot of the statements.
yes, this tax deduct because you din’t provide Tax Identity Number. 30% tax deduct. for more iinfo check my above reply link for: Tax Information & Form W-8 Requirements for non US Authors
Thank you for helping me.
Will provide tax information as soon as possible.