A special initiative, started by our employees, is the opportunity to ‘donate’ a vacation day. The proceeds of the initiative will be donated towards the support for refugees. A fund will be created, managed by the Stichting Universiteitsfonds Twente. The fund will use the contributions for student grants, contribution towards tuition fees, etc. for eligible refugees.
The donated vacation hours will be deducted from your 2016 balance. Based on full-time employment, 8 hours will be charged. In case of part-time employment, the number of vacation hours is calculated in proportion. In case of a 20 hour working week, 4 hours will be charged on your holidays.
Your vacation day represents a value. The value of an hour is 0.704% of your monthly salary, based on full-time employment. Contributions will be donated to a special fund, managed by the Stichting Universiteitsfonds Twente.
At present, we are in consultation with the Ministry of Finance to find the most tax friendly solution.