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Thousands Of Overdue Cyprus Tax Cases Expire, Resulting In Millions In Lost Revenue

Fiscal Oversight Failure Threatens Public Funds

Cyprus is facing a significant loss in tax revenue as thousands of cases fall outside the statutory timeframe for assessment. According to the latest audit service report, the state risks forfeiting millions in unpaid taxes, undermining fiscal discipline and governmental funding.

Expired Assessments Undermine Revenue Collection

The audit revealed that 139,078 individual tax cases from 2014 to 2017 can no longer be assessed or amended due to lapse in the legal timeframe of the superintendent’s jurisdiction. Corporate liabilities are similarly affected, with an additional 6,070 outstanding taxes from the same period rendered unenforceable. This statutory expiry highlights the critical need for timely audits and due diligence in tax administration.

Widening Gap in Tax Compliance

The report further indicates that numerous taxpayers with taxable income, yet to file their returns, are not factored into current pending tax assessments. This omission compounds the risk of missed revenue, placing additional pressure on fiscal management and policy enforcement.

Declining Trends In Tax Assessments

In a concerted effort to eliminate arrears, the tax department issued 789,519 assessments in 2024, a decrease from 943,413 in 2023 and 905,967 in 2022. Despite these efforts, between 12,254 assessments for the years 2014–2016 issued in 2023 and 11,428 for 2014–2017 issued in 2024 have lapsed under legal constraints. Such delays predominantly affect legal entities, accentuating the need for a streamlined approach to audit and collection practices.

Call For Enhanced Scrutiny And Prompt Action

Critics argue that many assessments from the past two years were imposed without adequate auditing or income adjustments. With high-risk sectors such as construction and land development, along with businesses suffering prolonged losses, under scrutiny, it is imperative that the tax authority re-evaluates its processes. Prioritizing high-risk cases and ensuring assessments occur within the legal timeframe is vital to safeguarding public funds and bolstering fiscal integrity.

Adobe Expands AI Tools And Opens Creative Cloud To External Assistants

Adobe is extending artificial intelligence across its creative software, adding new tools to Photoshop, Premiere, Illustrator and InDesign while expanding the capabilities of its Firefly platform. The announcements, made at the company’s MAX event in Miami, also point to a broader shift: Adobe is working to make its creative tools available not only inside its own apps, but through third-party AI assistants.

Among the changes are new image- and video-editing features, a prototyping tool in private beta and a local Model Context Protocol (MCP) connection that will let other chatbots interact with selected Adobe capabilities.

Firefly Expands From Generation To Prototyping

Adobe’s Firefly app is moving further into territory occupied by design and collaboration platforms such as Figma. Its new Builder tool, currently in private beta, is designed to help users create prototypes that communicate early-stage ideas.

Firefly is also gaining tools for creating on-brand charts and editing specific parts of an image without altering other objects. A new AI-powered video feature will let users assemble clips with supporting elements such as images and sound effects. Adobe says its agent will become more proactive and continuously available, allowing it to build context around a user’s work and assist with tasks as they arise. The company is also streamlining quick actions, including background removal and video-thumbnail creation.

More AI Features Across Creative Cloud

The additions build on a steady rollout of AI features across Adobe’s applications, including Photoshop, Express, Premiere and Illustrator. At MAX, Adobe announced further updates: Photoshop is adding a relighting feature and controls for adjusting prompt-based generative styles; Premiere is getting a new professional color-grading system and an object-removal tool for video; and Lightroom is adding corrections for blinking eyes and blemish removal.

Adobe is also broadening its selection of third-party AI models, which already includes technology from Google, Runway, ElevenLabs, Black Forest Labs, OpenAI, Kling and ByteDance. Topaz Labs, the image- and video-enhancement company Adobe recently acquired, is introducing two models: Wonder 4 for upscaling and denoising, and ImageHDR for converting standard images into high-dynamic-range formats.

MCP Opens Another Route Into Adobe Tools

Adobe already offers integrations with ChatGPT and Claude that give users access to some product functions. Its new local MCP is intended to expose additional Creative Cloud capabilities to outside AI assistants, including ChatGPT, Claude and Gemini.

Deepa Subramaniam, an Adobe vice president, told TechCrunch that the company is still determining which capabilities to make available. The initial set of endpoints spans Illustrator, Photoshop, After Effects and Premiere, with future expansion shaped by how people use the connection.

“We are still figuring out where and when and how to draw the line,” Subramaniam said. “What we really want to do is to support that creative workflow, how you choose to do it.”

The approach leaves room for Adobe to learn from real-world use rather than setting a fixed boundary from the outset. It also reflects a strategic question facing software companies: how to make their products useful within a growing ecosystem of AI assistants without giving up control over how users access their tools.

A Standard Still Taking Shape

MCP offers a way for AI systems to connect with external tools and services, but its role in creative software remains unsettled. Last month, Figma co-founder Dylan Field argued that MCP is not a perfect standard and that its current design may benefit frontier AI labs more than other participants.

Adobe’s move suggests it is willing to test the protocol while it evolves. If users can bring Adobe capabilities into the assistants and workflows they already rely on, the company could make its creative software more accessible beyond its own interfaces. The challenge will be ensuring that this added flexibility supports creative work without making the experience harder to manage.

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