Film & TV

Chinese Actress Fan Bingbing Has Been Fined For Tax Evasion

Fined for approximately $130 million, the star has been specifically targeted by the Chinese government.
Reading time 4 minutes
Source: China Film Insider

After disappearing from the public view in July, Chine actress Fan Bingbing has finally reemerged albeit not amidst good news. Fined by the People’s Republic of China for 883 million yuan (Approx. $129 million) for tax evasion, the tar was accused of utilizing “yin-yang contracts” to her advantage.

What exactly are these yin-yang contracts? Basically, these underground dealings present authorities with one contract, while the secret one gives more favorable numbers to their clients. Basically, they help you lie about how much you’re making per movie/album/project. The man who started the modern witch hunt was Cui Yongyuan, a former news presenter. Posting two of Bingbing’s contracts online, it sparked public outrage and dialogue about the actor’s obscene earnings and expenses. Subsequently, China’s government began their investigation into the matter.

Expressing regret, BingBing released a public apology thanking the Communist Party and fans for their support, expressing regret for her actions. Known as one of China’s most bankable stars, her career, while able to train. With some of America and China’s biggest films all listed on her IMDB, some have speculated her career is coming to an end. 

Read her statement below. 

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Letter of Apology

Recently I have endured an unprecedented amount of pain, undergoing deep self-reflection and introspection. I feel ashamed and guilty for what I did, and here, I offer my sincere apology to everyone. 

For a long period of time, I did not uphold the responsibility of safeguarding the interests of my country and our society against my personal interests. I feel ashamed that I committed tax evasion in “Unbreakable Spirit” and other projects by taking advantage of “split contracts.” Throughout these days of my cooperation with the taxation authorities’ investigation of my accounts as well as my company’s, I have realized that, as a public figure, I should’ve observed the law, setting a good example for society and the industry. I shouldn’t have lost my ability to govern myself in the face of economic interests, leading myself to break the law. Here I sincerely apologize to society, friends who care about me, the public and the taxation authorities. 

I completely accept the penalties given by the taxation authorities after their thorough investigation. I will follow the final order given by the taxation authorities and will do my best to raise funds to pay back the taxes and fines. 

I have been an art lover since I was a child, and I’m also fortunate to have run into the rise of the film and television industries. Thanks to guidance from veterans as well as love from the audience, together with my own hard work, I have achieved a bit of success in my career. As an actor, I take pride in showcasing our country’s culture on the global stage, and I do my best to be in the forefront of this. My success owes to the support from my country and the people. Without the great policies of the [Communist] Party and the country, without the love of the people, there would be no Fan Bingbing.

Today I’m facing enormous fears and worries over the mistakes I made! I have failed the country, society’s support and trust, and the love of my devoted fans! I offer my sincere apology here once again! I beg for everyone’s forgiveness!

I believe that, after this incident, I will uphold the law and respect orders, as well as taking my responsibilities. While I will continue to produce great work for everyone, I will keep a close eye on my company’s management to ensure that my company abides by the law, building it into a great company that is cultured and has high integrity, in order to spread positive energy to society!

Again, I apologize to society and my devoted fans, as well as to my friends and family who care about me. I sincerely say: I am sorry! 

Fan Bingbing
October 3 2018 

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