On Wednesday, Meta Platforms, Inc. Meta And Bytedance-property Tap the supervisory reimbursements of the European Union challenged Digital Services Actclaim that the cost calculations are poor and their costs are unfairly inflated.
What happened: The two companies brought their case to the EU court, with the argument that the supervisory costs imposed under the Digital Services Act (DSA) are disproportionate and reported on the basis of incorrect calculations, reported Reuters.
The reimbursement, which amounts to 0.05% of the global net result of a company, is intended to cover the costs of the European Commission to supervise compliance with the law.
Meta’s lawyer, Assimakis komninosargued that the calculation of the reimbursement used by the total income of the group instead of the income of individual subsidiaries was opaque and “led to completely unbelievable and absurd results.”
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He also said that Meta still does not fully understand how the reimbursement was calculated, the report added.
Tiktok’s lawyer, Bill Batchelorthe method criticized as “inaccurate” and “discriminatory”, claiming that the number of users was blown up by double -constructing users who switch between devices.
Tiktok also argued that the reimbursement unfairly includes the costs for other platforms and exceeds the legally required rate hood.
In defense, commission lawyer Lorna armed stated that group profits were the correct reference point for calculating the reimbursement, with the argument that the companies had sufficient information to understand the methodology and that the tackling of the committee meets the legal standards, according to the report.
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The court is expected to reign over the issue next year
Why it is important: Apart from Meta and Tiktok, the EU had identified 20 large online platforms and two prominent online search engines – including Alphabet Inc. Goosen Googl Google” Apple Inc. ApeplAnd others – as subject to this levy under the designation of the European Commission.
The annual reimbursement is determined on the basis of the average number of monthly active users of each company and its financial results from the previous year, in particular whether the profit or loss has posted.
Price promotion: Meta shares fell by 1.18% on Wednesday and another 0.43% fell on the trade after hours, according to Benzinga Pro data.
Benzinga’s Edge Stock Rankings Indicate a positive trend for Meta about short, medium and long -term timetables. More detailed performance data is available here.
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Indemnification: This content was partially produced with the help of AI tools and was assessed and published by Benzinga Editors.
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