Australia Imposes 2.25% Revenue Tax on Tech Platforms That Reject News Deals

Australia's government released draft legislation Tuesday creating a 2.25% tax on Meta, Google, and TikTok earnings if they decline commercial deals with local publishers. The News Bargaining Incentive, due in Parliament July 2, escalates the 2021 News Media Bargaining Code by adding direct financial consequences. Platforms must negotiate with Australian news outlets or pay the levy on domestic revenue. The approach attempts to avoid Spain's outcome, where a content tax prompted Google to delist news entirely.