Timisoara Municipality will offer tax incentives for large investments that will create new jobs

Timisoara municipality will offer tax incentives for large investments that exceed 2 million Euro and lead to the creation of new jobs.

These facilities can go up to total exemption of tax liabilities, depending on the value of the investment. Last year, Timisoara City Hall gave tax incentives which consisted in the cancellation of the 50% or 25% shares for delay penalties.

The deputy mayor stated that within the next Local Council meeting,  it would be updated the project related to the minimis aid, as a part of the penalties that would apply to companies that have not paid taxes in time of economic crisis.

At the moment, in Timisoara there are registered 12.000 active economic operators.