The Australian Competition and Consumer Commission (ACCC) has published draft regulation that would force American tech companies like Google and Facebook to subsidize traditional Australian media companies with a portion of their revenue. The ACCC’s mandate is to protect and promote competition, but the Draft Code would do the opposite. The Draft Code functions as a direct tax on innovative companies.
Americans for Tax Reform and Digital Liberty have submitted comments to the ACCC.
You can read the full submission here.