Vouchers or slips of paper (issued, for instance, by employers to their staff) which are exchangeable for meals but not for cash. The employer purchases the vouchers from an organization specializing in this kind of business. This organization later repurchases them from the restaurant, making its profit from the discount offered by the restaurant and the commission paid by the employers. Luncheon vouchers are a means of giving employees additional benefits in kind and are tax free up to a fixed amount per day. Not all restaurants accept them.
|Reference: The Penguin Business Dictionary , 3rd edt.|