The Government in Ireland has doubled the existing employer incentive for tax-free staff rewards as the country feels the impact of the cost of living crisis.

Perx® Reward from EML Payments Limited (ASX: EML) is enabling its employer clients to reduce the current cost of living crisis by rewarding their employees tax-free by up to €1,000 in the countdown to Christmas.

Currently, energy costs, food price rises, interest rate hikes and the overall increase in everyday living expenses are having an impact. The Consumer Price Index in Ireland has increased by 8.7 per cent in the year to August 2022*, according to the Central Statistics Office.

Perx® Reward cards provide an easy to use and personal experience for companies to reward their employees.

''Just Eat has been using Perx® to reward staff for over 7 years. For us, it's a simple and effective way to give back to our teams and encourage the highest performance. I highly recommend Perx. The reward cards are easy to manage, very quick to deliver and most importantly, our staff love them,'' explained Amanda Roche-Kelly, Managing Director Ireland at Just Eat.

In Ireland, companies, business owners, senior management, human resource professionals and small to medium sized businesses that have already given their people an award of up to €500 pre-budget this year can give an additional award of up to a combined value of €1,000 by the end of the calendar year - completely tax-free for employees, while also saving employers Pay Related Social Insurance (PRSI) costs.

''We understand employees are a company's best asset. For many people, 2022 has been a struggle. Now is the time for businesses to reward staff by way of vouchers in a tax-efficient manner while helping relieve the cost-of-living pressures this winter. It's an empowering way for businesses to say thank you to their people for excellent work in challenging times,'' explained Ailie Kofoid, Group Executive, Gifting at EML Payments.

Perx® Reward qualifies under the Irish Government’s Small Benefits Exemption, whereby employers can reward their employees by way of tax-free vouchers up to the value of €1,000 per employee in a calendar year. Previously, a qualifying award was allowed once per year, with any other awards in the same calendar year subject to tax and PRSI.

Employers should always seek professional tax advice to ensure they comply with the relevant legislation.

Perx® Reward cards can simply be ordered directly from the website with no integration required and custom branded options are also available at: https://perxreward.com/rewarding

Source

*Central Statistics Office, Consumer Price Index August 2022, released on September 8th, 2022 https://www.cso.ie/en/releasesandpublications/ep/p-cpi/consumerpriceindexaugust2022/

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Press Relations contact:

Marie O’Riordan, Global Director of Public Relations

marie.oriordan@emlpayments.com

+353 87 39 333 71