Laid off workers who find new jobs will be able to enjoy several preferential measures starting January 17, announced the Ministry of Labor and the State Administration of Taxation.

These preferential measures include providing services for the laid off workers, simplifying the commercial and industrial registration procedures and exemption from business taxes, personal income taxes and administrative fees for three years.

Enterprises that hire laid off workers are also eligible to enjoy preferential measures. As long as mid-to-small-sized enterprises, employment agencies and other enterprises are in tune with the national industrial policy, their products have a ready market and meet the requirements for a loan, commercial banks and credit cooperatives must give them loans.

Enterprises whose employees are comprised of more than 60% previously laid-off workers or self-employed businessmen are eligible for business tax exemption for three years. Employment agencies who place a certain percentage of urban workers in new jobs are also eligible for a decrease or exemption in income tax for three years. At the end of the three years, if 30% of the employees placed in a job by the employment agency are still at their original job, the employment agency only has to pay half of its income tax owe for two years.