- News Media Bargaining Code:
- In 2021, the Australian government introduced the News Media Bargaining Code, requiring social media platforms like Meta and Google to pay Australian media companies for using their content. Non-compliance could result in fines up to 10% of revenue from Australian customers.
- Meta’s Withdrawal and Government Response:
- Meta withdrew from the agreement in March, redirecting funds previously allocated to Australian media. In response, the Green Party proposed a Digital Services Tax (DST) on the global revenue of social media platforms to support local media and monitor social media space.
- Future of Digital Services Tax:
- The DST proposal aims to emulate models from France, Canada, and the UK, using funds to support traditional media. Whether Australia will implement this tax remains uncertain, but the government seeks ways to protect local media and balance relations with international platforms.
Source 1stopvat
Latest Posts in "Australia"
- Australia-UAE Free Trade Agreement Comes Into Effect
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- Australia Proposes GST Updates for Copyright and Digital Media to Modernize Tax Frameworks
- ATO Proposes New GST Rules for Copyright and Multimedia Transactions in Australia
- Australia Sets 2026 Deadline for Mandatory E-Invoicing with Government Agencies
