Australia to Tax Tech Titans on News Revenue

The Australian government plans to impose a tax on major digital platforms, such as Meta and Google, unless they agree to share revenue with local news media. The tax targets firms earning over AUD 250 million annually. This strategy aims to promote collaboration between tech companies and media organizations.

The Australian government announced plans to impose taxes on major digital platforms and search engines if they fail to share revenue with Australian news media. This mandate applies from January 1, targeting companies like Meta and Google that earn more than AUD 250 million annually in Australia.

Assistant Treasurer Stephen Jones and Communications Minister Michelle Rowland emphasized that the proposed tax aims to encourage revenue-sharing agreements between tech firms and news media, rather than raising government revenue. The exact tax rate has yet to be determined.

The decision follows Meta's announcement to not renew agreements with Australian news publishers for content use. This initiative builds on previous 2021 laws compelling tech giants to negotiate revenue-sharing deals or incur significant fines for non-compliance.

(With inputs from agencies.)