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Microsoft Bing Unveils Free AI-Powered Video Creator

by THEFUTURE.TEAM
June 3, 2025

Microsoft Bing has announced the launch of its new Bing Video Creator, integrating OpenAI’s Sora model to transform text prompts into dynamic video content. This development marks a significant milestone in the evolving landscape of AI-driven media creation, as Microsoft extends the reach of video generation technology to its broad user base.

Innovative Integration With OpenAI

The partnership between Microsoft and OpenAI is well established, and this latest endeavor reinforces their joint commitment to pioneering creative AI applications. Traditionally reserved for paying customers, the Sora model’s video generation capabilities are now accessible for free to Microsoft account holders via the Bing app. This move democratizes access to advanced video content creation, setting a new precedent in the industry.

User Experience and Accessibility

At launch, the Bing Video Creator is available exclusively through the mobile Bing app. Users logged into their Microsoft accounts can generate up to 10 video clips at no cost before incurring charges of 100 Microsoft Rewards points per additional video. These points are accrued through activities such as Bing searches and Microsoft Store transactions, ultimately bridging routine user interactions with cutting-edge video production technology.

Technical Limitations and Future Enhancements

While the current version of Bing Video Creator allows for the creation of three concurrent 5-second vertical videos in a 9:16 aspect ratio, the process may take hours to complete, even when leveraging the “fast” mode. This vertical format appears to be optimized for social media platforms like TikTok and Instagram. Looking ahead, Microsoft plans to introduce horizontal formats to further expand the tool’s versatility and appeal.

Microsoft Bing’s innovative integration of AI-driven video generation not only enhances the digital content creation ecosystem but also exemplifies how strategic partnerships can drive accessible, next-generation multimedia solutions for consumers worldwide.

EU E-Commerce VAT Systems Generate €257.9 Million Revenue for Cyprus in 2024

by THEFUTURE.TEAM
August 11, 2025

Robust Revenue Growth Through Streamlined VAT Collection

Cyprus has demonstrated a significant fiscal boost in 2024 with €257.9 million generated from the European Union’s e-commerce VAT systems, according to Tax Commissioner Sotiris Markides. This impressive performance underscores the effectiveness of the One Stop Shop (OSS) and Import One Stop Shop (IOSS) frameworks in simplifying cross-border tax compliance.

Simplified Procedures for EU and Non-EU Businesses

The OSS system allows Cyprus-registered businesses to streamline VAT declaration and payment on sales to consumers in other EU countries. Companies simply register on the local OSS platform, apply the consumer’s VAT rate, aggregate their submissions quarterly or monthly, and remit a single consolidated payment. Subsequently, Cyprus allocates the appropriate share to each respective EU country. This efficient process extends to non-EU sellers as well, who can have their intra-EU distance sales managed under the Union Scheme.

Breakdown of VAT Revenue Streams

Last year’s declarations under the various schemes illustrate the system’s broad reach: €217.9 million was collected via the Union Scheme, €36.9 million through the Non-Union Scheme, and €3.1 million via the Import Scheme. While the Union Scheme caters to both EU and non-EU sellers engaging in distance sales, the Non-Union Scheme specifically accommodates non-EU firms delivering services to EU consumers. Furthermore, the Import Scheme targets goods valued at less than €150 that are imported from outside the EU.

Implications and Broader Impact

Implemented in July 2021 as an evolution from the more limited MOSS system, these reforms have not only consolidated tax collection through an expansive OSS but also integrated the IOSS for low-value imports. By designating certain online marketplaces as “deemed suppliers,” the new framework ensures that VAT collection is both efficient and equitable. Across the EU, these mechanisms have generated over €33 billion in VAT revenues in 2024, reflecting a successful effort to simplify tax compliance, reduce administrative burdens, and promote fair taxation across the bloc.

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