Australia passes law levying tech giants that fail to pay for local news

Australia passes law to levy tech giants that fail to pay for local news

Australia passed legislation on Thursday imposing a 2.5% levy on tech giants' local advertising revenue unless they strike commercial deals with news outlets. The News Bargaining Incentive applies to Meta, Google, TikTok, and LinkedIn, covering companies with significant social media or search services and local ad revenue exceeding A$250 million. Platforms can avoid the charge by reaching agreements with at least eight publishers, with offsets for spending.