Romania's tourism industry loses EUR 50 mln by not applying holiday vouchers law

Romania’s tourism industry has lost about EUR 50 million because it hasn’t enforced the law on vacation vouchers since the beginning of this year. It should have done so from January 1, according to the Romanian Tourism Employers Federation (FPTR). If only 5% of those entitled to receive holiday vouchers had received them January 1, some EUR 178 million would have entered the economy this year, said Dragos Raducan, vice-president of FPTR, cited by local Mediafax. However, the law does not apply yet. The last term the state gave for issuing the first holiday voucher was March 15. If the law is still not enforced by then, FPTR wants to submit a complaint against the institutions that block the legislation. All state employees should receive electronic holiday vouchers instead of holiday tickets or bonuses. Their maximum value should be six minimum gross wages, or about EUR 1,300 and will be fully deductible for companies. Companies will not pay any social contributions for these vouchers, except the 16% tax on individual revenues. Private companies can also give their employees holiday vouchers. editor@romania-insider.com