Missing Chinese actress Fan Bingbing fined for tax evasion

Missing Chinese actress Fan Bingbing fined for tax evasion

Fan Bingbing is a Chinese actress that starred on many Hollywood films such X-Men : Days of Future Past, Iron Man 3, Air Strike and many other Chinese movies starring along side Jackie Chan and many others was considered as missing as she wasn’t active on social media or by paparazzi and raised concerns about the actress.

Most critics and fans presumed that she was either imprisoned by the Chinese government for certain scenes from her movies or imprisoned for tax evasion.

Chinese state media Xinhua however, revealed on Wednesday that actress Fan BingBing was fined for tax evasion and has been ordered to pay almost $130 million after she misreported the amount of money she received for few film projects, while companies related to her needed to pay $42 million for late taxes and late fees, they were also fined $86 million.

Investigation revealed that she used her “yin-yang contracts” to conceal her earnings from authorities so as to not pay millions of dollars in taxes. Fan Bingbing was detained by authorities right around the time it was speculated that the actress had gone missing around June of 2018.

The tax authorities in Jiangsu province near Shanghai said was under investigation but didn’t reveal information on her whereabouts.

The actress apologised on social media saying “As a public figure, I should have abided by laws and regulations, and been a role model in the industry and society,” she said. “I shouldn’t have lost self-restraint or become lax in managing (my companies), which led to the violation of laws, in the name of economic interests.”. Without the favorable polices of the Communist Party and state, without the love of the people, there would have been no Fan Bingbing,” she added.

Fan has also admitting to signing contracts that were of smaller value and report those to the authorities while the second, larger contract one is treated as tax-free income.

The State Administration of Taxation said it has launched a campaign to recover all back taxes from the entertainment industry and all the high profile celebrities who did not meet the December 31st deadline can face criminal charges.