The Australian government has announced plans to tax large digital platforms and search engines unless they agree to share revenue with Australian news media organizations. The tax will apply to tech companies earning more than 250 million Australian dollars ($160 million) a year in revenue from Australia.
Companies targeted by this tax include Meta, Google-owner Alphabet, and ByteDance, the Chinese owner of TikTok. The tax will be offset through payments to Australian media organizations, with the government aiming to make revenue sharing the more cost-effective option.
