Rewards have become increasingly popular among employers as a way to show appreciation to their female employees on the occasion of International Women’s Day on March 8th. Gift vouchers have emerged as a favored choice, allowing working women to potentially receive a sum of 300 lei from their workplace.
8th of March Gift Vouchers
Recently, the maximum limit for these vouchers was doubled from 150 lei to 300 lei, as per an Emergency Ordinance passed towards the end of 2021. This legislative change was designed to enable companies to offer special rewards for special occasions without imposing taxes on them.
Gift vouchers for 8th of March, now valued at up to 300 lei, are exempt from income tax and mandatory social contributions, in accordance with the provisions of the Fiscal Code. Many employers, especially in the private sector, choose to provide these gift vouchers along with a day off for all female employees.
“In the case of cash and/or in-kind gifts, including gift vouchers, offered by employers, the income is non-taxable, provided that the value for each individual on each occasion, listed below, does not exceed 300 lei”, according to the National Agency for Fiscal Administration (ANAF).
Gift Vouchers Are Offered on Special Occasions
According to ANAF, gift vouchers can be granted in various special situations, including:
– gifts for employees and their minor children for Easter, Christmas, or other similar religious holidays,
– gifts for female employees on the occasion of International Women’s Day,
– gifts for employees for the benefit of their minor children on Children’s Day on June 1st.
It is important to note that any amount exceeding the 300 lei limit becomes taxable and subject to income tax and mandatory social contributions.
In addition to raising the ceiling, the emergency ordinance introduced a new requirement: all value vouchers, including gift certificates, must be issued in card form, eliminating physical tickets.
Furthermore, employers must pay attention to all women, whether they are mothers or not, and must not discriminate against female employees based on their employment status within the company.
International Women’s Day, celebrated on March 8th, represents an opportunity to acknowledge women’s contributions to society and to promote gender equality while combating discrimination and violence against women worldwide.
TAGS: 8th of March, women, gift vouchers, income tax, gender equality
