BCCI has always supported social balance and predictable business environment

Vouchers and exempt from taxes and social securities and therefore they are preferred bonuses to the salary by employers. Even though the ceiling is higher in comparison to last year – from 172 to 180 million BGN, food voucher operators require a new increase of the quota arguing that otherwise 345 thousand workers and employees in the public and private sectors will be deprived of food vouchers.

If companies compensate their workers for the decrease of their incomes, they will suffer losses of BGN 19.5 million, according to a survey cited by the 15 food voucher operators.

“The aim is to initiate a discussion with the Ministry of Finance in order to find an urgent solution of the problem before the end of September and to avoid the miscalculation of the quota for 2013”, said the President of the Association Arnaud Martenat. According to him increasing the quota for next year with the same percentage as last year will cause a shortage of vouchers as soon as June or July next year.

Mr. Martenat added that out of 30 countries in which such voucher systems operate, only in Bulgaria there is a cap of the voucher quota. If there wasn’t one however, the budget revenue would suffer because each voucher worth BGN 60 is exempt from taxes, and according to the Ministry of Finance the state would lose BGN 20 income from taxes and social securities.

“If an additional quota is not granted, possible tax revenue will be rather illusory but it is unlikely that it will compensate the “public spending”, said Krasen Stanchev, Manager of KC2 company which conducted the market research.

“On behalf of BCCI, I would like to say that the desire to increase the quota with new vouchers is positive. Unless this is done, the center of gravity in companies budgets by the end of the year may shift”, said Alexander Dimitrov, Analyst at BCCI during the press conference held at the BTA. The shortage of vouchers will cause social pressure because the workers will ask for salary increases. And this will happen at the worst possible moment. Such a demand will naturally be supported by the trade unions but won’t be beneficial for the business. We support the idea to allocate the needed sum. The conclusions arrived at during the press conference should be sent to the Ministry of Finance so that it takes actions as soon as possible.

The existence of food vouchers is beneficial both for workers and employers. When a system starts giving results, it is good that it remains stable and not be stopped in the most unsuitable moment in mid-September all of a sudden. Alexander Dimitrov reminded that vouchers are the only form of benefit workers receive, because they are exempt from taxes and that vouchers help employers as well by decreasing their labour costs. BCCI has always supported social balance and predictable business environment, Dimitrov concluded.