President Iohannis promulgates holiday vouchers law

Newsroom 29/06/2015 | 16:27

On Monday, June 29 2015, President Klaus Iohannis promulgated the law concerning holiday vouchers, according to a Mediafax article. The law approving Government Ordinance no. 8/2014 for the amendment of certain terms set out in the Government Emergency Ordinance no. 8/2009 was passed by the Chamber of Deputies with 303 votes for and 12 abstentions.

It stipulates that all employees can benefit from holiday vouchers within a limit of up to six medium wages. Employees in the private sector can benefit either from vouchers or a vacation bonus, according to terms negotiated. In the public sector vouchers will be compulsory, no money or vacation bonuses being awarded.

This holiday vouchers system will keep tax incentives for employers, being deductible and exempt from wage taxes. In addition, the issuance of holiday vouchers will remain under the control of the Ministry of Finance, who will allow entrance into the program to any institution that meets the required conditions.

Since the vouchers will only be available to use within the Romanian tourism network, all representatives of the parliamentary groups supported the adoption of these provisions, pointing out that they will bring a boost to Romanian tourism.

Mihai Tudose, Economy minister, said that it is a measure meant to protect our economy by keeping the money the state invests within our borders. The law will take effect 30 days after the promulgation.