How much can you save with tax-free vouchers compared to payroll bonuses?

Cash bonuses are taxable, meaning both employers and employees pay taxes on them. For example, a €1,000 cash bonus can cost an employer €2,313.54 after PRSI and taxes.

In contrast, giving the same amount as a tax-free voucher costs the employer just €1,000, with the employee receiving the full value tax-free.