Dragos Raducan, vice-president of the Federation of Romanian Tourism Employers (FPTR), stated that if the holiday voucher law had been applied from January 1st as it should have been, the tourism industry would have recorded revenues of EUR 50 million, considering that 30% of Romanians take early booking vacations, purchasing them between January and March to take advantage of discounts during this period.
If only 5% of those entitled to receive holiday vouchers had received them from January 1st, as the law provides, we could be talking about EUR 178 million entering the economic circuit this year, Raducan specified.
He calculated that every day, due to the non-application of the law, the Romanian tourism industry loses over EUR 700,000.
Alin Burcea, vice-president of the National Association of Travel Agencies (ANAT), explained that while salaries are taxed at over 80%, the tax on holiday vouchers is just over 20%. In this case, it is normal for any company, whether state-owned or private, to want to grant employees such vouchers.
Raducan pointed out that in June 2014, the holiday ticket law was modified, and these were transformed into holiday vouchers, which were supposed to be issued electronically by the ANT from July 1, 2014. From that moment, the issuance of holiday tickets or the granting of bonuses was prohibited, as the state intended to stimulate the granting of vouchers. At the request of the unions, both the prohibition and the issuance of vouchers were postponed to January 1, 2015. After this date, the state allows both private companies and public institutions, autonomous regions, national societies, and companies to grant employees holiday vouchers worth a maximum of 6 minimum gross salaries, with which service packages can be purchased in authorized tourism units in the country.
However, even after January 1st, the ANT did not issue these vouchers, which caused a blockage in the market.
Prime Minister Victor Ponta indicated that the problem of holiday tickets will be resolved in the coming period, with the Ministry of Finance to submit the application norms necessary for issuing holiday vouchers.
Source: Mediafax
Frequently Asked Questions
What is the financial impact of not implementing the holiday voucher law?
The failure to apply the law from January 1st resulted in estimated losses of EUR 50 million for the tourism industry, with a daily loss exceeding EUR 700,000.
Who can grant holiday vouchers to employees?
Both private companies and public institutions, autonomous regions, and national companies can grant these vouchers up to a limit of 6 minimum gross salaries.
What are the tax advantages of holiday vouchers?
Holiday vouchers are taxed at just over 20%, providing a more tax-efficient alternative compared to standard salary taxation.