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PewDiePie Accused Of Tax Evasion Through Off-Shore Accounts

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Tax experts have leveled allegations against PewDiePie, accusing him of tax evasion in the UK. They claim that the Swedish YouTuber is planning to shift his company, PewDie UK Ltd to Cyprus in order to avoid paying taxes.

Although PewDiePie is Swedish, he has lived in Brighton, England for much of his life. He has been the director of his company PewDiePie UK since 2019, although recently he has appointed two new directors to the company in a move to reduce the amount of taxes that he needs to pay to the state. Now tax experts are claiming that PewDiePie intends to migrate his company’s directors to Cyprus, as it will help his company dodge taxes in the UK.

The news has been further verified as the two new directors — Andreas Menelaou and Kseniia Milevska — have provided a correspondence address on PewDie UK Ltd. that is their own company’s base, Andreas Menelaou LLC in Nicosia, Cyprus. Tax expert Nimesh Shah, CEO of Blick Rothenberg believes that this is likely down to PewDiePie’s desire to take advantage of the reduced tax rates — 19% in the UK, over 50% higher than the 12.5% taxation in Cyprus.

“From a tax perspective, what I think they’re trying to do is they’re trying to migrate this UK company to Cyprus,” he said. “If the decisions, the overall management, and strategic decisions are conducted outside the UK, you can migrate that company outside the UK for tax purposes, and therefore the UK lets go of it and corporation tax.”

PewDiePie’s tax evasion scheme has worried the community about the financial ethics of Top YouTubers. As popular YouTuber Kwebbelkop notes, while the decision is not illegal itself, it does damage the reputation of the streaming community, while also encouraging others to seek methods, lawful or unlawful, in order to reduce their tax payments.

Source: Input Mag