Tuesday Movie, TV moguls told to heed law on taxes
China’s tax authorities reminded filmmakers, television production companies and related sectors, as well as those in high-income brackets, to look closely into their own taxpaying practices before Dec 31.
Those who make remedial payments to tax authorities for unpaid taxes will be exempt from administrative punishment and penalties, Xinhua reported on Monday, citing a statement released by the State Administration of Taxation on Oct 2.
The industrywide tax probe came after actress Fan Bingbing and companies she represents were ordered to pay taxes and penalties totaling around $128 million after it was found she had evaded taxes of more than 140 million yuan.
The scandal surrounding Fan surfaced in May when former TV host Cui Yongyuan exposed on his social media what he said were two different contracts — one declared, one secret — to hide a massive payment.