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Navigating Cyprus’ Tax Reform: Essential Webinar Guide For Payroll Executives

Overview Of The Tax Reform Initiative

Cyprus is set to implement significant tax reforms affecting individual taxation as of 2026. To aid payroll administrators and employers in understanding these changes, the office of the Tax Commissioner and the Employers and Industrialists Federation (Oev) have partnered to host a series of informative webinars.

Understanding The Key Changes

The webinars will provide a detailed walkthrough of the new tax regulations with an emphasis on the revised Form T.F. 59. Attendees will gain clarity on the declaration process for tax deductions during the forthcoming 2026 tax year, ensuring that payroll professionals are well-prepared to implement these changes within their organizations.

Session Details And Format

Designed specifically for company personnel responsible for payroll management, each session will accommodate multiple participants from the same firm. To maximize accessibility, both sessions will be conducted via Zoom on consecutive days. The first session is scheduled for Thursday, January 15, 2026, and the second for Friday, January 16, 2026, with both sessions running from 9:00 AM to 11:00 AM.

Interactive Q&A And Ongoing Briefings

During the webinars, participants will have the opportunity to pose questions relevant to the presentation content, ensuring that discussions remain focused and actionable. Additionally, the organizers have indicated that further briefings covering other facets of the tax reform related to business operations will be provided later in the year, reinforcing a commitment to ongoing support and clarity.

Registration And Further Information

Registration for these sessions is mandatory and can be completed through an online registration form. Upon registration, participants will receive distinct Zoom links corresponding to their chosen session date.

Google Cloud Outage Disrupts Banking And Digital Services Across The UK

A power outage at a Google Cloud data centre near London disrupted services across the UK on Tuesday, affecting banks, businesses and other digital platforms. Google said the incident was caused by a power event at its cloud operations, with full recovery expected by around 1300 GMT.

The disruption began at 0608 GMT and affected Google Cloud services in the europe-west2 region, which is hosted in London. In an initial update, the company reported elevated error rates and intermittent network failures across multiple services as engineers worked to restore operations.

Banking Services Hit By The Disruption

Revolut was among the most visibly affected companies, with customers reporting problems with ATM withdrawals, bank transfers and card top-ups. A source close to the matter linked the issues to the Google Cloud outage.

Traditional banks also reported disruptions. Lloyds said some customers were experiencing problems with its app and online banking, while HSBC confirmed difficulties accessing its services. HSBC added that it was monitoring the situation and noted that other organisations were affected as well.

Disruption Spreads Beyond Finance

Downdetector, which tracks online service disruptions, recorded hundreds of reports involving other businesses, including property website Rightmove and the Royal Mail postal service. The reports suggested that the outage was affecting multiple parts of the UK’s digital economy.

The incident highlights the risks facing businesses that depend on shared cloud infrastructure. Even a temporary failure at a single provider can disrupt services across several sectors, from banking and payments to logistics and consumer platforms.

Companies Reassure Customers

Revolut said it had been working to resolve the issue since it was identified and apologised to affected customers. The company also confirmed that customers’ money and data remained safe.

As cloud platforms underpin an increasing share of digital commerce, the outage illustrates how disruptions to critical infrastructure can spread far beyond the provider itself, affecting businesses and customers across the economy.

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