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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.

Meta’s Reality Labs Deepens Its Losses Even As Revenue Climbs

Meta Platforms’ Reality Labs division reported an operating loss of $4.62 billion in the second quarter, highlighting the continued cost of the company’s investments in virtual and augmented reality technologies. The unit generated revenue of $431 million, up from $370 million a year earlier and above analysts’ expectations of $423.4 million, according to StreetAccount. Operating losses widened from $4.53 billion in the same quarter of 2025.

Revenue Grows As Losses Continue

Despite higher revenue, Reality Labs remains one of Meta’s biggest cost centres. Since late 2020, the division has accumulated more than $80 billion in operating losses as the company continues investing in hardware and software for its long-term computing strategy.

Focus Shifts Toward AI Wearables

Reality Labs develops the Quest virtual reality headsets and Ray-Ban Meta smart glasses in partnership with EssilorLuxottica. While Meta originally positioned the division around its metaverse vision, the company has increasingly focused on AI-powered wearables as demand for virtual reality devices has grown more slowly than expected.

Long-Term Investment

Meta renamed Facebook to Meta in 2021 to reflect its strategy of expanding beyond social media through immersive technologies. Although Reality Labs continues to report multi-billion-dollar quarterly losses, Zuckerberg has maintained that investments in AI, wearable devices and next-generation computing platforms are central to the company’s long-term growth strategy.

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