Australia passes law to levy tech giants that fail to pay for local news
The levy applies to Meta, Alphabet's Google, TikTok and Microsoft's LinkedIn, covering companies with a "significant" social media or search service in Australia, and local advertising revenue exceeding A$250 million ($178 million). Platforms can avoid the charge by reaching agreements with at least eight different publishersby the end of their reporting period. The value of those deals would be offset against their levy liability.
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