How can I save money with meal vouchers and meal card?
With Ticket Restaurant® meal vouchers/meal cards, you will:
• get tax and financial benefits*
• avoid the trouble of setting up your own canteen
• give your employees the possibility to get the food they like in the largest network of acceptance points, which is constantly expanding.
SAVE ON DEDUCTIONS
Increasing the nominal value of meal vouchers is an effective tool for motivating employees, and your company can save considerable funds.
If you increase wages, you must count with higher social security and health insurance deductions*. Increasing the nominal value of provided Ticket Restaurant® meal vouchers or meal cards is not subject to the above deductions (assuming that it is a matter of providing catering according to the Labour Code), while in the employees’ eyes, it is a wage increase. If you provide your employees with Ticket Restaurant® meal vouchers or meal cards with a higher nominal value, you will pay only 19% income tax from the amount exceeding the statutory maximum meal allowance (as a non-tax catering expenditure).
In addition, according to the Act on Income Tax, such income is tax exempt for the employee.
* In accordance with the relevant provisions of the:
Act No. 580/2004 Coll. on Health Insurance, as amended
Act No. 461/2003 Coll. on Social Insurance, as amended
The amendment to the Act on Income Tax, valid from April 2009, states that freelancers/self-employed professionals may reduce their tax base by the full amount of the meal allowance provided during a business trip lasting 5 to 12 hours. Currently, self-employed professionals can claim up to €4.80 on expenses per day worked.
As a freelancer using meal vouchers or cards, you can reduce your tax base by the full meal allowance amount form 1 June 2018, which can be up to €700,80 till the end of year 2018 (for working 146 working days in 2018)!
However, you must not be simultaneously entitled to meal allowance in connection with a dependent activity (e.g. as an employee), and must not claim catering expenses otherwise (e.g. reimbursement of receipts from restaurants). If you apply flat rate expenses, you are not entitled to meal vouchers either.
We recommend you to buy meal vouchers/cards continuouslyor in advance to avoid buying vouchers/cards for a previous period. In such a case, it would be clear that you did not use the vouchers for catering in the previous period because you did not have them available. This means that you cannot use meal vouchers bought retrospectively to reduce your tax base.
The information provided is for informational purposes only. Although we exercised due professional care in providing the information, we accept no responsibility for any inaccuracies, errors, or damages arising out of reliance on this information. In any case, we recommend that you seek professional advice on a particular issue.