Meta, TikTok win challenge against EU tech fees, forcing regulators to recalculate

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Meta Platforms and TikTok on Wednesday won a legal challenge to the way EU regulators calculated a supervisory fee imposed on them under landmark tech rules, but will receive no money back while officials reformulate the levy.

Meta and ByteDance’s TikTok sued the European Commission after they were hit with a supervisory fee of 0.05% of their annual worldwide net income to cover the EU executive’s cost of monitoring their compliance with the Digital Services Act.

The size of the annual fee is tied to the number of average monthly active users for each…



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Meta, TikTok win challenge against EU tech fees, forcing regulators to recalculate


Meta Platforms and TikTok on Wednesday won a legal challenge to the way EU regulators calculated a supervisory fee imposed on them under landmark tech rules, but will receive no money back while officials reformulate the levy.

Meta and ByteDance’s TikTok sued the European Commission after they were hit with a supervisory fee of 0.05% of their annual worldwide net income to cover the EU executive’s cost of monitoring their compliance with the Digital Services Act.

The size of the annual fee is tied to the number of average monthly active users for each…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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