Twitch streamers could be affected by new EU tax laws

The new EU tax law could give Twitch streamers headaches when it comes to payouts, especially if they don’t tick the box that’s just popped up on the streaming platform.

Since Twitch has become a genuine way for streamers to make money, some people have tried to get rich and make a career out of it. Others do it as a side job to earn money in addition to their actual job.

However, it’s not all sunshine and rainbows. If you’re successful, Twitch will naturally take a cut of your subscriptions and sponsorships. There was a lot of controversy about that. There are also tax considerations, especially for non-US streamers, and that’s before you get money from donations.

In recent months, streamers in Turkey and the Middle East have been hit with payment issues, causing some to turn away from Twitch for a while. Others have also been banned for tax evasion. Now, European streamers could be affected if they don’t complete a simple task on their channel.

EU streamers may have their monetization canceled for not completing a new Twitch quest

Streamers in Europe will now have to complete the DAC7 Interview in the Twitch Creators Dashboard, answering questions about their tax status and other earnings-related queries.

This is because the new DAC7 tax law now affects Twitch as they must report “information regarding user-generated income.” So unless you’re making money on Twitch, you don’t have to worry about it.

Failure to complete the interview will result in blocked payments and channels being monetized and removed from the Partner/Affiliate program. So it’s quite imperative for streamers to sort it out.

It only affects people in the European Union, so streamers from other regions – including the UK – will not be required to complete the interview.

The deadline for completion has not yet been made public by Twitch, but only shared with streamers. It might be soon, though.

Categories: Entertainment
Source: Twitch streamers could be affected by new EU tax laws – Tekmonk Bio, Twitch streamers could be affected by new EU tax laws – KOLNetworth, Twitch streamers could be affected by new EU tax laws – Blogtomoney