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Legislative News

On August 3, 2010 the norms for the application of Emergency Ordinance No. 58/June 26, 2010 regarding the amendment and supplement of Law 571/2003 were published in Official Gazette No. 542.

As we informed you on the publication of Emergency Ordinance No. 58, the amendments made to the fiscal treatment of lunch, holiday and gift vouchers have no implications on the fiscal burden of the company which grants this type of benefit to its own employees.

Lunch, holiday and gift vouchers continue to be deductible upon the calculation of the tax on profit (16%) and are exempt from the payment of social taxes and duties both for the employee, and for the employer.
The only amendment to the treatment of the two types of vouchers is taxation at the employee level of the amount related to the nominal value by a quota of 16% related to the income tax.

Tax calculation method:
The employee’s gross income - Social contributions due by the employee = taxable income from salaries
Taxable income from salaries + Taxable income related to lunch vouchers = Total taxable income
Income tax = 16% * Total taxable income

Practically, also at the employee’s level, the tax that must be paid is only 16% of the total amount received in vouchers, and this is the only fiscal burden for the employee.

The amounts received in lunch vouchers may reach up to lei 200/month (for 23 business days and a nominal value of lei 8.72 per voucher). After applying the tax percentage, the employee will retain a net income of lei 168 related to lunch vouchers.

In conclusion, lunch vouchers remain in this difficult economic period the most beneficial method for supplementing employees’ income by an amount that is exclusively meant for food expenses.

The calculation method for the tax related to holiday vouchers observes the same plan as in the case of lunch vouchers.

Tax withholding and payment:
The tax related to lunch and holiday vouchers will be withheld by the employer, at the same time with the tax on salary income, in the month when vouchers were granted.

• accounting record -  in account 444 - Tax on salary income (obtained through the accrued taxation of the income from salaries and of the income from lunch vouchers).
• statement under the same position 7(tax on income from salaries) of statement 100 regarding payment duties to the state budget.

The tax will be paid until the 25th day of the next month, into the unique account of the State Budget.

Amendments made by Government Emergency Ordinance No. 58/2010 and by its application norms:

• For the company that grants them, they continue to be deductible upon profit tax calculation, within the limits provided by the law and are exempt from the payment of taxes and salary and employers contributions - Art. IV, letter b), of Government Emergency Ordinance No. 58/June 26, 2010.
• They are included in the category of income obtained by a person as a result of an employment contractual relationship, by supplementing item 68, letter a) of the norms for the application of Title III of the Fiscal Code "Income Tax".
• They are removed from the category of nontaxable income, in the sense of the tax on salary income, by repealing the first line, Art. 82, of the norms for the application of the Fiscal Code.
• They will be taxed at the level of the employee by 16%, calculated and withheld tax, upon the establishment of the monthly salary rights for the month in which they are granted.

• For the company that grants them, they continue to be deductible upon profit tax calculation, within the limits provided by the law and are exempt from the payment of taxes and salary and employers contributions - Art. IV, letter a), of Government Emergency Ordinance No. 58/June 26, 2010.
• They are included in the category of income obtained by a person as a result of an employment contractual relationship, by supplementing item 68, letter a) of the norms for the application of Title III of the Fiscal Code "Income Tax".
• They will be taxed at the level of the employee by 16%, calculated and withheld tax, upon the establishment of the salary rights for the month in which they are granted.

• They are assimilated to the income obtained by a person as a result of an employment contractual relationship, by supplementing item 68, letter a) of the norms for the application of Title III of the Fiscal Code Salary Income and are taxable with a 16% income tax, payable by the employee.
• They are included in the category of salary advantages, regardless of the event on the occasion of which they are granted, by supplementing item 70 of the norms for the application of Law 571/2003 regarding the Fiscal Code.
• Gift vouchers used for promoting sales on new and existing markets, for market research or for protocol will continue to have important fiscal benefits for the company granting them and for their end-user, in accordance with the Law 193/2006 (Art. 2, pct. 1) and Law 571/2003 regarding the Fiscal Code (Art. 21, pct 1 and 2, letters d and i), and Art. 77).