Australia aims to tax tech giants unless they pay news outlets
Australia has proposed new draft laws that would tax major tech companies unless they negotiate payments to local news outlets. Prime Minister Anthony Albanese emphasized the need for these companies to compensate publishers for the news content they share. The legislation aims to ensure that journalism retains its monetary value in the digital age.
- ▪Australia unveiled draft laws to tax tech giants unless they pay local news outlets.
- ▪Meta, Google, and TikTok are specifically targeted by these laws.
- ▪The proposed levy would amount to 2.25 percent of the companies' Australian revenue if they do not negotiate deals.
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The logo of Meta / AFP-YonhapSYDNEY - Australia unveiled draft laws on Tuesday that would tax tech giants Meta, Google and TikTok unless they voluntarily strike deals to pay local outlets for news.Traditional media companies around the world are in a battle for survival as readers increasingly consume their news on social media.Australia wants big tech companies to compensate local publishers for sharing articles that drive traffic on their platforms.Prime Minister Anthony Albanese said tech giants Meta, Google and TikTok would be given a chance to strike content deals with local news publishers.If they refused, they faced a compulsory levy that amounted to 2.25 percent of their Australian revenue, he said."Large digital platforms cannot avoid their obligations under the news media…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Korea Times.
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