Published: Wed, October 03, 2018
Global News | By Blake Casey

Chinese movie star Fan Bingbing to pay $129 million for tax evasion

Chinese movie star Fan Bingbing to pay $129 million for tax evasion

However her agent is being held on suspicion of criminal activity and the tax authorities said he obstructed their investigation, Xinhua reported.

Having mysteriously disappeared for three months after being accused of evading taxes with "yin-yang contracts", China's state-run news agency Xinhua today reported Chinese superstar Fan Bingbing (范冰冰) must pay 880 million Chinese yuan (US$128 million) in fines for tax evasion, and as long as she can cough up the cash, she will be released from detention.

According to state-run news agency Xinhua, Fan has been ordered to pay nearly $130 million, after she misreported how much money she had received for certain film projects, using so-called "yin-yang contracts" to hide from the authorities her true remuneration and avoid millions of dollars in taxes.

Fan and companies she represented also evaded 248 million yuan ($36 million) in additional taxes, Xinhua said, but it gave no details regarding this figure.

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Breaking her silence, Ms Fan, in a letter posted on Weibo on Wednesday, apologised for her actions. "I would like to apologise to everyone for this", wrote Fan.

"I know I've let down the country, betrayed society's trust in me, and let down my fans". She had since been transferred to authorities in Beijing for further investigation of her affairs, the source added.

Although Ms Fan denied the accusations and Mr Cui eventually walked back his claims, China's State Administration of Taxation announced shortly after that it was looking into the claims of tax evasion involving celebrities.

Fan has starred in dozens of movies and TV series in China and is best known internationally for her role as Blink in 2014's "X-Men: Days of Future Past, " a cameo in the Chinese version of "Iron Man 3, " and star turns on the red carpet at Cannes as recently as May. The practice refers to celebrities who sign two contracts: one with their actual salary and another with a lower figure that is submitted to tax authorities.

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