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New Tax Code lowers VAT to 20 pct as of next year

The new Tax Code draft foresees the decrease of the standard rate of VAT, as of January 1st next year, from 24 percent to 20 percent and for meat, fish, vegetables and fruit to 9 percent.

Capital Economics: Romania’s economy in advance this year by 3%

Romania’s economy will grow by 3% this year and by 3.3% next year because of the positive evolution of domestic demand, under the long term growth potential of 4% estimated by analysts from the British consulting company Capital Economics.

Cluj IT Cluster certified at European level

Cluj IT Cluster, one of the most important IT clusters at national level, has obtained the Bronze label certification based on the methodology accredited by the European Commission and created by the European Cluster Excellence Initiative (ECEI). This certification is offered for the management of organizations and their development capacities.

New business incubator in Cluj for new companies in the IT&C

The company that administrates the Regional Centre of Excellency for Creative Industries (CREIC) of Cluj-Napoca, Cluj Innovation Park, announced it will establish a business incubator for new companies in the IT&C, software, computer games and telecommunications areas.

Austrian group extends leases for 11,000 sqm in Iride Business Park in Bucharest

Austrian Immofinanz Group, the largest owner of office space in Bucharest, has closed new deals and extended existing agreements for 11,000 sqm area in Iride Business Park.

Greek investor Ioannis Papalekas nears EUR 1 bln real estate portfolio in Romania

Real estate investment firm Globalworth, controlled by Greek businessman Ioannis Papalekas, increased its portfolio in Romania to EUR 752 million.

Investor pays EUR 1 mln for 32 apartments in Cosmopolis

An investor paid around EUR 1 million on a package of 32 double studios in Cosmopolis, the transaction being completed earlier this year, the developer Opus Land has announced. The apartments were purchased to further be loaned for minimum three to five years, reads a Cosmopolis press release.

Omifa opens its first local office in Romania, in Cluj-Napoca

Omifa, the office fit-out solutions provider, opens its second Romanian office in Cluj-Napoca.

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