Australia hikes levy for tech giants that fail to strike local news deals
The Australian government has hiked a planned levy that will force tech giants to pay multimillion-dollar charges if they fail to strike commercial deals with local media outlets for news on their platforms.
The government said on Monday it increased the levy for its planned News Bargaining Incentive to 2.5% from 2.25%.
In a change from an earlier proposal, the tax would only be calculated from a tech company’s advertising revenue, rather than its entire business revenue, the government said.
