"The real objective ... is not to raise revenue - we hope not to raise any revenue. The real objective is to incentivize agreement-making between platforms and news media businesses in Australia," said Assistant Treasurer Stephen Jones.
Meta, which owns Facebook, is concerned about the proposal, stating, "the current law was flawed... we continue to have concerns about charging one industry to subsidise another," indicating their apprehension about the implications of this tax.
Jones highlighted that the new tax initiative is directed towards ensuring large tech platforms engage meaningfully with Australian media, noting it aims at making revenue-sharing agreements the cheaper option for these companies.
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