To support the recovery and come to the aid of retailers, the government has decided to double the tax exemption ceiling for Christmas gift vouchers. The maximum amount will rise from 171 to 342.80 euros.
Gift vouchers received by 12 million employees every year
Every year, 12 million employees and civil servants receive gift vouchers, most of which are spent at Christmas. They are distributed by works councils and local authorities, for a total value of 1.2 billion euros.
The government has decided to support economic activity by doubling the tax exemption ceiling for these gift vouchers, after initially considering multiplying it by 3.
"This one-off measure is a helping hand for employees and shopkeepers, affected by the lockdown and for whom the end of the year represents a very important part of their sales," said Economy and Finance Minister Bruno Le Maire on his Twitter account on December 8.
No obligation to buy from small retailers
However, due to the tight deadline, it was not possible for the government to put in place a system that would limit the use of these gift vouchers in local shops.
Usually, these gift vouchers are mostly spent in large chains, which have established partnerships with voucher issuers. However, new offers are emerging, with gift vouchers reserved for independent shops or products made in France.
The main gift voucher issuers, such as Sodexo, Cadhoc, Groupe Up, Natixis and Edenred, supported the measure and "indicated that they would work to enable more local businesses to also benefit from their gift vouchers", according to Bruno Le Maire, who stressed that he expected "gift voucher issuers to make a gesture in favor of local commerce".