Fan Bingbing Faces $70M Fine For Tax Evasion, Chinese Government Says

03 October, 2018, 17:27 | Author: Heather Diaz
  • Chinese actress Fan Bingbing vanished from public view since July- no more social media updates no more paparazzi

According to the Xinhua news agency, Fan is personally being fined about £54m of the total amount due for tax evasion.

French music composer and member of the Feature Film jury Gabriel Yared (L) and Chinese actress and member of the Feature Film jury Fan Bingbing arrive on May 28, 2017 for the closing ceremony of the 70th edition of the Cannes Film Festival in Cannes, southern France.

She wrote in a letter: "There would be no Fan Bingbing were it not for the good policies of the party and the state, and the loving care from the public", Fan wrote.

The investigation was launched after a CCTV host accused the 37-year-old actress of having signed so-called "yin-yang contracts", wherein she would receive two separate contracts for the same film project, one of which would be reported to authorities, the other would not, thus helping her sidestep millions in taxes. For these violations, the Jiangsu Tax Bureau is fining Fan and her legal representative 880 million yuan.

Ms Fan dropped off the radar in June amid reports that she was involved in an investigation into tax evasion in the film industry.

The announcement did not disclose any details about Fan's whereabouts but did reveal that her agent was being held by officers for allegedly obstructing the investigation. Fan also avoided an additional 1.12 million yuan business taxes, therefore evading a total of 7.3 million in tax for the film.

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Earlier today, Chinese authorities put an end to much of that speculation, announcing that Fan had indeed taken advantage of "yin-yang contracts" and had been found guilty of tax fraud. "I have failed society's trust, and I have failed the love of my fans". Here, I sincerely apologise to everyone. I owe my success to the support of my country and the people. I would really like to ask for everyone's forgiveness.

Fan broke into the global movie scene with her role in the 2014 "X-Men" movie. She has since been relocated to Beijing.

Fan is usually active on the service and posts regularly, but her last activity on the platform was in late July when she "liked" several posts, the BBC reported.

A statement released by Fan's studio previously said she was the victim of "slander", but did not dispute the authenticity of the documents Cui released.

She also made it on Forbes magazine's list of top Chinese celebrities previous year, when she made around $43 million.

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