Australia to Tax Meta, Google in 2025 if They Fail to Pay for News Content

Dec 12, 2024, 10:22 AM

The Australian government has introduced a new scheme that will compel tech giants like Meta and Google to compensate local news media organizations for content shared on their platforms. If these companies do not agree to revenue-sharing deals with Australian media, they will face substantial taxes. This initiative, set to take effect in 2025, targets digital platforms with revenues exceeding $250 million, aiming to ensure that news publishers are fairly compensated for their content. The move comes after Meta withdrew from a previous agreement, prompting the government to seek a more robust solution to support the journalism industry.