business / news / / NDTV.com
The government released draft legislation Tuesday it intends to introduce to Parliament by July 2.
Australia proposes a 2.25% tax on Meta, Google, and TikTok's Australian revenue if they don't pay publishers.
KEY POINTS
- This legislative move follows platforms' avoidance of renewing prior deals by removing news from their services.
- Income from the tax would be distributed to news organizations based on journalist employment numbers.
- Google criticizes the draft law for excluding rivals like Microsoft, Snapchat, and OpenAI from the tax.
- The government estimates the tax would raise 200 to 250 million Australian dollars annually.
COMPANIES
Summarized by Newsio from NDTV.com. How we summarize →