Australia targets tech giants with levy unless they pay for local news
Summary
Australia has introduced draft laws that would require tech companies Meta, Google, and TikTok to pay local news publishers for their content. If these companies do not agree to pay, they will face a tax of 2.25% on their revenue earned in Australia.Key Facts
- The draft law targets Meta, Google, and TikTok, requiring them to pay local news outlets for sharing news content.
- If the companies refuse to pay, they must pay a levy equal to 2.25% of their Australian revenue.
- The law aims to help local media companies struggling as more people get news from social media instead of traditional outlets.
- Australia’s Prime Minister Anthony Albanese supports the law and said the tech giants will get a chance to make payment deals first.
- The law is designed to prevent tech companies from removing news content entirely to avoid payments, a move seen in other countries.
- Research shows that more than half of Australians use social media as their main source of news.
- The move reflects a global push to get big tech companies to share revenue with news publishers.
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