December 5 2018

Employers Could Get 50% Refund on Unemployment Insurance Premiums for No or Less Job Cuts

Source: IBFD Tax Research Platform News

The State Council released on December 5, 2018 the Opinions about the Work on Promoting Employment at the Current and Next Stages, saying that companies that do not cut jobs or cut fewer jobs than initially planned can get back 50% of unemployment insurance premiums in the previous year.

The document outlines four measures to promote employment in the current and next stages. The first is to support steady business development; the second is to encourage employment and entrepreneurship; the third is to implement job training programs; the fourth is to provide assistance to jobless and laid-off people. The document stressed that local governments must fulfill their responsibilities to promote employment, and relevant departments should release policy measures that support job creation and stabilization, and instruct enterprises to assume their social responsibilities and make concerted efforts.