Like last year, the government will increase the tax exemption limit for 2021 gift certificates, announced the Minister of the Economy, Bruno Le Maire, on Wednesday 24 November.
The ceiling “Will go from 171 euros to 250 euros”, he said on Franceinfo, adding that “This concerns nearly 8 million employees”, which benefit from gift certificates distributed by works councils or employers in small businesses.
“It is a measure for the purchasing power of the French, it is part of all these measures that we take in times which are difficult for many French people”, in particular because of inflation, justified Mr. Le Maire. “We do not want the gift certificate to replace the salary increases that are necessary in a number of sectors”, however warned the minister, who regularly calls on companies to increase low wages, in particular in the hotel and restaurant sector.
A “positive measure” for the benefit of 7.7 million employees
In 2020, the government had doubled the ceiling to 341 euros. “According to the issuers of gift certificates, this measure, taken in early December 2020, had led to the distribution of 150 million euros in additional gift certificates, which were added to the 1.2 billion euros. ‘euros in gift certificates distributed each year ”, specifies Bercy in a press release.
The fifth wave that is currently reaching France “Does not threaten the recovery”, however estimated Mr. Le Maire. “I have no particular concerns for French growth”, who is “Solid”, he added.
Among the companies issuing gift certificates, the multinational Sodexo (Tir Groupé, Spirit of Cadeau, Wedoogift brands) has rented a “Positive and important measure”, like Edenred. “We welcome this government decision which will benefit a very large number of employees. We called for it alongside our merchant partners still severely affected by the health crisis ” said Patrick Langlois, CEO Northern Europe and France of Edenred, quoted in a press release.
Some 147,000 companies or communities finance gift certificates for a total amount of 1.2 billion euros, for the benefit of 7.7 million employees – i.e. 34% of French public or private employees, according to figures published in 2018 by the professional association of gift certificate issuers, A3C.