In a latest move from the Australian government, several major tech companies might be forced to pay for the news content, including TikTok, Google, Meta and more. These tech giants could potentially face multimillion dollar charges if they fail to strike the deal with the local media outlets, as per Reuters. As per the newly proposed News Bargaining Incentive, the major tech platforms will be taxed 2.25 per cent on their local revenues till the time they reach agreements with publishers, with payments redirected to the support for Australian journalism.
Notably,Anthony Albanese, the Prime Minister of Australia, supported this move, highlighting national interest amidst rising global pressure over digital taxes. He stated, “We’re a sovereign nation. And my government will make decisions based upon the Australian national interest.”
Albanese took to X to note, “Right now, big tech companies can benefit from Australian journalism without paying their fair share. We’re taking the next steps to make sure platforms contribute to Australian news. Because there's no substitute for Australian news and stories told by Australian journalists.”
Previously, the prime minister of Australia suggested a wider stricter regulation, asserting that large tech firms benefitted from Australian journalism without paying their fair share and stressed that there is no substitute for Australian news and stories told by the journalists of Australia. Under the legislation draft, thistaxwill begin from the financial year of 2025-2026, which starts from July 1.
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Govind Choudhary is the Chief Copy Editor for Tech at Times Now with over five years of experience in the media industry. He covers consumer technolog...View More
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