Exclusive-Big online firms face 0.1per cent supervisory fee under new EU rules – CNA

BRUSSELS :Major online platforms face a fee up to 0.1per cent of annual net income to cover the costs of monitoring compliance with new European Union rules requiring them to do more to police their content, an EU document shows.

The Digital Services Act (DSA) rules are likely to be agreed between EU countries and lawmakers later this month. Levying such a fee would be a first for the European Commission, which is the EU’s executive body.

“The overall amount of the annual supervisory fees shall be based on the estimated costs the Commission incurs in relation to its supervisory tasks under this Regulation,” the document, which was seen by Reuters, said.

“The fee shall not exceed 0,1per cent of the global annual net income of the provider of very large online platforms (or very large search engine) in the preceding financial year,” the document said.

EU antitrust chief Margrethe Vestager told lawmakers and member states last month that the fee could raise between 20 million euros…

Read Full Story: https://www.channelnewsasia.com/business/exclusive-big-online-firms-face-01per-cent-supervisory-fee-under-new-eu-rules-2610036

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