Facebook Tax Defence Backfires
An Anonymous Coward writes:
Facebook could be hit with a massive brand new tax if it moves forward with its threat to block all Australian users from sharing news on its platform. In response, Facebook threatened to ban the sharing of news which then resulted in a threat to tax Facebook for news or rather "digital transactions". The Australian government appears to have predicted Facebook's response and had draft legislation drawn up ready to respond.
On Tuesday, the social media giant said it would ban the sharing of news in Australia on Facebook and Instagram if the government pushed forward with changes that would force social media platforms to pay media companies for their content.
But it has since been revealed that such a move from Facebook could actually see the platform hit with a new tax on all digital transactions, which could cost the company millions.
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