EU Introduces Regulatory Fee For Big Online Platforms

Major online platforms will face a fee of up to 0.1% of annual net income to cover the costs of monitoring compliance with new European Union rules, Reuters reports.
The EU countries and lawmakers would likely settle the Digital Services Act (DSA) rules later this month.
The overall amount of the annual supervisory fees shall depend on the Commission's estimated costs concerning its supervisory tasks under this Regulation.
The law exempted not-for-profit providers of extensive online platforms and massive online search engines.
"The fee shall not exceed 0.1% 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.
Alphabet Inc GOOG GOOGL Google expressed its support for the law.
Price Action: GOOG shares traded lower by 1.32% at $2,834.74 on the last check Tuesday.