Meta accuses Australia of breaching FTA, invokes US 'trade action'
Meta has accused Australia of breaching a free trade agreement with the U.S. by proposing a new tax on tech giants that do not enter licensing deals with local media. The company claims the proposed tax of 2.25 percent on all Australian revenue is excessive and violates commitments made in the bilateral agreement. This dispute has been ongoing since 2021, highlighting tensions between the U.S. and Australia over the regulation of tech firms.
- ▪Meta claims Australia's proposed tax on tech giants violates the U.S.-Australia Free Trade Agreement.
- ▪The tax would impose a 2.25 percent charge on all Australian revenue for companies like Meta.
- ▪This ongoing dispute has roots in legislation requiring social media companies to negotiate payments to news outlets.
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