Asia Pacific, Deal Makers, Family Office, Financial, Global Economics, News, Private Bankers, The Rich, Wealth Management

China International Star and Actress Fan Bingbing Probed for Evading Tax 

China International Star and Actress Fan Bingbing Probed for Evading Tax 

China’s most recognised international star and 36 year-old-actress Fang Bingbing is being investigated by China tax authorities in the city of Wuxi in Jiangsu province for possibly using dual-contracts to reduce income tax.

“China International Star and Actress Fan Bingbing Probed for Evading Tax”

A former CCTV anchor had posted screenshots of 2 contracts on his social media account, Weibo, triggering investigations into dual-contract practices in the entertainment industry.  Both contracts were implied to belong to Fan Bingbing, with one contract showing a 60 million yuan ($9.36 million) contract and another showing a 10 million yuan ($1.56 million) contract.  Dual-contracts are sometimes used to reduce legal risks, tax payable or to evade tax.

In the 2017 Forbes China Celebrity list, she is listed as the highest paid actress in China earning an estimated 300 million yuan ($46.82 million).  Already China’s superstar,  she starred in Hollywood movie X-Men: Days of Future Past in 2014.

Source: Yicai, Caixin, SCMP, Forbes

 

Video:

Video:

Video:

 

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency
Previous ArticleNext Article