Live streaming, also known as live e-commerce, is a new type of sales model that has emerged in recent years. In live streams, streamers help merchants increase sales by showcasing, introducing, and promoting products to entice viewers to buy. However, with the rise of live streaming, some criminals have also begun to use this channel to carry out illegal activities such as tax evasion. So, how to pay taxes for live streaming?
First of all, we need to make it clear that the sales revenue of live streaming also needs to pay VAT, income tax and other taxes. According to relevant national laws and regulations, individuals who sell goods or provide services through the Internet, live-streaming platforms and other channels shall pay value-added tax, income tax and other taxes in accordance with the law.
For live streamers, how should they pay taxes?
1.First of all, you need to understand how your taxable income is calculated. According to the relevant national laws and regulations, the taxable income of individual income tax is the balance of income minus costs and expenses. For live streamers, the taxable income is the balance of live broadcast sales revenue minus live broadcast costs, platform fees, and other related expenses.
2.After calculating the taxable income, the anchor shall calculate the tax payable at the tax rate prescribed by the state. According to the relevant laws and regulations of the country, the tax rate of individual income tax varies according to the amount of taxable income.
3.The anchor shall submit an individual income tax return to the in-charge tax authorities before the end of each tax year and pay the corresponding taxes.
In short, as an emerging sales model in recent years, the tax issues of live streaming have also attracted increasing attention. Anchors should pay taxes in accordance with the law, abide by tax laws and regulations, and don't lose big because of small things. At the same time, viewers should also support legal and compliant live streaming to jointly maintain a good market order.