Australia Passes Tech Levy Law for Local News
Australia has passed legislation forcing major tech companies to pay a 2.5 percent levy on advertising revenues if they fail to strike commercial deals with local media outlets. The new rules apply to platforms like Meta and Google with revenues exceeding 250 million Australian dollars.
Xurve View
Insights:
Xurve View
Australia passed legislation on Thursday evening levying a 2.5% tax on digital platforms failing to pay local media outlets for news content. The News Bargaining Incentive targets companies with local advertising revenue exceeding A$250 million ($178 million).
