After the meal- and de eco voucher, Belgian government has introduced the consumption voucher. In other words, if you want to reward your employees before year-end with a tax optimal extra benefit in Belgium, the new consumption voucher may be an interesting option!
We have summarized the most important of attention hereafter:
A consumption voucher may be used by your employees in hotel, restaurant, bars or other retail shops (who has been obligate to close for more than one month due to the COVID-19 measures) or in cultural or sports sector. The nominal value of such voucher is maximum 10,00 euro / voucher. The total amount may not exceed 300,00 euro/ employee.
The introduction of the voucher is a measure of Belgian government to re-enforce industries / sectors which have been heavily affected by the COVID-19 measures.
Your benefit as employer?
This consumption voucher is not subject to social security contributions, neither to personal income taxes. In addition, the cost of this voucher is 100% tax deductible for the employer. At the same time, the employer can support the local economy, retail and / or potential clients by purchasing these voucher with them. A package deal and beneficial price may be negotiated between the employer and the local hotel/restaurant operator to come to a win-win situation.
- The consumption voucher may not be used to replace existing remuneration or other benefits. It should be something extra, an extra benefit for the employees;
- The consumption voucher does not qualify as ‘remuneration’. In other words, this does not have any impact on indexation, vacation pay of potential severance pay;
- This benefit has to be captured by CBA (at sectoral or corporate level), either by individual agreement. It has to be in writing;
- This is a temporary measure. The consumption voucher can only be purchased till December 31, 2020 and can only be used till June 7, 2021.
Interested or additional questions? Feel free to contact us. We may help you with a fresh look at your remuneration policy, additional background and / or implementation of concrete benefit plans.