State Secretary in the Ministry of Finance, Lucian Heiuș, stated that the 2022 budget could be approved quickly, by early January at the latest.
At the same time, he specified that holiday vouchers will be included in the 2022 budget.
The new Executive indicates it will cover the value of holiday vouchers granted by private sector employers.
At the beginning of this year, the Government decided that public institutions would no longer grant holiday vouchers in 2021.
The non-issuance of holiday vouchers in 2021 led to a reduction in the budget deficit by 1.65 billion RON, or 0.15% of GDP, according to Government calculations. Consequently, tourism operators claim that the 2021 season was much better than 2020 in terms of revenue, but that the 2019 level has not yet been reached, with the absence of holiday vouchers being felt in domestic tourism.
According to current legislation, holiday vouchers are 100% tax-deductible, up to a limit of 13,380 RON/employee/fiscal year, and are exempt from the labor insurance contribution, as well as from the social contributions owed by the employee.
Frequently Asked Questions
Will holiday vouchers be available in 2022?Yes, the Romanian Government has confirmed that holiday vouchers will be included in the 2022 budget for both public and private sector employees.
What is the tax benefit for employers offering vouchers?Holiday vouchers are 100% tax-deductible up to 13,380 RON per employee per year and are exempt from standard labor and social contributions.
How did the 2021 voucher suspension affect the budget?The suspension reduced the budget deficit by approximately 1.65 billion RON, representing 0.15% of Romania’s GDP, though it impacted domestic tourism revenues.