China’s Most Famous Actress Faces $130 Million in Fines For Tax Evasion

Fan Bingbing, regarded as one of China’s most famous actress, is now facing hundreds of millions of yuan in fines and back taxes after authorities investigate her alleged tax evasion that was brought to the spotlight in June 2018.

 

The 37-year-old actress is now facing a fine of 479 million yuan ($69.7 million) and was ordered to pay 288 million yuan ($41.9 million) for unpaid taxes. Her companies are also facing a total fine of 125 million yuan ($18.1 million), according to China’s tax authorities’ announcement on Wednesday via South China Morning Post.

Fan, who is a first-time offender, may not face criminal charges as long as she pays all of the fines and back taxes. However, reports did not reveal when the deadline for the payment is set, Xinhua reported via SCMP.

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In her first post on Weibo since she disappeared from the public eye in June, Fan admitted that she is “deeply ashamed” of what she did, Bloomberg reported. Fan also apologized to the tax authorities as well as to the public for her tax evasion practices.

Fan was suspected of using “Yin-Yang Contracts” where she only reports the lesser contract and pockets the biggest contract under the radar of the tax authorities. The actress was then exposed on Chinese social media by former CCTV anchor Cui Yongyuan, followed by her leaving social media in June.

Many fans speculated that the actress was arrested by the authorities, which could explain her sudden disappearance. But early last month, reports emerged that the actress was placed “under control, and will accept the legal decision.”

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Images via Instagram / bingbing_fan

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