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Cyprus’s New Fiscal Framework: A Catalyst for Sustainable Growth and Social Equity

by THEFUTURE.TEAM

December 23, 2025

Introduction To A New Era

The recently approved fiscal framework, endorsed by the Cyprus House of Representatives, signals a transformative shift for the nation’s economy. According to Finance Minister Makis Keravnos, the reform is designed to sustain economic growth, enhance competitiveness, and provide substantial support to Cypriot families in the coming years.

Commitment To Modernization And Economic Resilience

The approval of this modern tax system is a milestone culmination of an extensive and demanding effort—one that was integral to the pre-election commitments of the Government of Nikos Christodoulides. The reform embodies a comprehensive policy to modernize society, boost entrepreneurial spirit, uplift the country’s international image, and improve the overall living standards of citizens. In doing so, it reinforces the economy’s resilience against future uncertainties.

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A Fair And Competitive Tax System

Set to be implemented on January 1, 2026, the new tax system promises a more equitable distribution of fiscal responsibilities while strengthening social cohesion. Minister Keravnos emphasized that the contemporary framework not only supports the real economy but also enhances the competitiveness of Cypriot enterprises, thereby attracting productive, high-quality foreign investments. The reform is strategically crafted to stimulate an environment conducive to business growth and innovation.

Targeted Relief For Families And Households

An important element of the reform is its targeted approach to personal taxation. By markedly reducing the tax burden on households—particularly those with children—the new framework offers tangible relief to vulnerable groups and the middle class, which is widely regarded as the backbone of both society and the economy. Such measures are crucial in reinforcing social stability and ensuring long-term prosperity.

Collaboration And Strategic Partnerships

Minister Keravnos extended his thanks to the numerous stakeholders whose hard work was pivotal in drafting, negotiating, and finalizing the reform. Key contributions came from the officials at the Ministry of Finance, the Cyprus University of Economics and Business’s research center, and various social partners. Furthermore, the cooperation of the members of the House of Representatives, including Chairwoman Christiana Erotokritou, and all parliamentary factions, was instrumental in refining the proposals under tight deadlines.

A Vision For Long-Term Growth

In conclusion, Minister Keravnos reassured both businesses and citizens that the newly established fiscal framework will serve as a foundation for a stable and growth-oriented tax system. This policy is expected to support long-term economic advancement, invigorate competitiveness, and safeguard the well-being of Cypriot families, ensuring that the nation remains steadfast on its path to modernity and prosperity.

The Future Forbes Realty Global Properties

by News Editor

August 24, 2026

Courts Are Still Applying Old Copyright Rules To AI

AI companies train models on enormous amounts of published material, including books, articles and academic research. Whether using that content without authors’ permission violates copyright law remains unresolved.

Much of the debate centres on fair use, which allows copyrighted material to be used without permission in certain circumstances. Courts consider factors such as the purpose of the use, how much material was involved and its impact on the original market.

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Anthropic Case Sets An Important Precedent

A major case involving Anthropic and a group of authors provided one of the clearest rulings so far. Judge William Alsup found that using copyrighted books to train AI models was lawful, comparing the process to people reading and studying literature before creating something new.

Anthropic was nevertheless ordered to pay $1.5 billion in a settlement. The penalty concerned books the company had obtained from illegal online libraries rather than the AI training itself.

For AI companies, that distinction could prove significant because it separates studying copyrighted material from directly copying it.

Competition Could Be The Key Issue

A case involving Thomson Reuters and Ross Intelligence offers a different perspective. A court ruled that Ross could not claim fair use after using Reuters’ copyrighted material to develop a competing AI-powered legal research platform.

The decision suggests courts may be less willing to consider AI training fair use when copyrighted content is used to build a product that directly competes with the original.

For authors, an unresolved question is whether AI-generated content should be considered competition for the works used to train these models.

The Law Has Yet To Catch Up

US copyright law predates generative AI by decades, leaving courts to apply old principles to new technology. Questions also remain over copyright protection for AI-generated works. In Thaler v. Perlmutter, a court ruled that material created entirely by AI cannot receive copyright protection.

Major AI companies remain involved in copyright litigation, and different courts could reach different conclusions. For now, there is no universal rule: the legality of AI training will depend on the circumstances of each case and how courts ultimately interpret copyright and fair use.