Australia Introduces 2.25% Tax on Big Tech for News Content or Require Payment to Publishers
Australia has introduced draft legislation requiring Big Tech firms like Meta, Google, and TikTok to pay for news content or face a 2.25% tax on their local revenues. The News Bargaining Incentive (NBI) aims to ensure platforms compensate local news publishers, with the tax rate decreasing to 1.5% if sufficient agreements are reached. This follows previous attempts to regulate Big Tech's news content sharing.
Topics: Australia Big Tech Google Meta News Funding Regulation TikTok