Meta, TikTok challenge EU supervisory tech fees, Reuters reports

Meta and TikTok have challenged a European Union supervisory fee in court, arguing it is disproportionate and based on flawed calculations. The fee, imposed under the 2022 Digital Services Act, charges 0.05% of global net income to cover the EU’s cost of ensuring compliance, Reuters’ Foo Yun Chee reports. Meta told judges at the General Court it is not trying to avoid paying its fair share of the fee, but it questioned how the Commission had calculated the fee, saying it had been based on the revenue of the group rather than of the subsidiary. Other publicly traded companies in the social media space include Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).