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Streaming tax under review in South Korea

The South Korean government is conducting a review of streaming platforms, such as YouTube LLC and Netflix Inc., to determine if they should be subject to certain taxes, The Korea Herald reported Aug. 15.

Under the current system, terrestrial broadcasters and cable channels are required to pay between 2% to 4% of their annual advertising revenue to help bolster the local broadcasting and communications industry. As streaming platforms have become more popular, some in the country are demanding that streaming businesses also contribute to the fund.

France similarly started taxing streaming services in 2017.

Alphabet Inc.'s Google LLC is the parent company of YouTube.