Fan Bingbing Faces $70M Fine For Tax Evasion, Chinese Government Says

Fan Bingbing has vanished without a trace

Fan Bingbing has vanished without a trace

Of the total amount, Fan is being personally fined around $70 million USA for tax evasion, according to an announcement carried by China's official Xinhua News Agency Wednesday, citing tax authorities.

Xinhua said an investigation by the Chinese tax authorities found that Ms Fan had split her contract to evade taxes of 7.3 million yuan over payments for her role in Air Strike, a film due to be released this year. If Fan Bingbing pays the $107 million in full, she'll reportedly avoid criminal prosecution as it's her first offense.

CNN also reports that "Fan admitted to signing the contracts and said she "completely accepts" the decision by tax authorities".

In the opening sentence of her post, Fan explains that she has been going through a great deal of pain, has taken time to reflect, and now apologizes for her actions, "I've been enduring an enormous amount of pain".

Citing sources with knowledge of her case, the South China Morning Post has reported that Fan was released from "secret detention" about two weeks ago as the investigation into her finances wrapped up.

After admitting her guilt Fan would praise praise the Chinese communist party, "Without the favorable polices of the Communist Party and state, without the love of the people, there would have been no Fan Bingbing".

Fan says she will pay the fines: "I totally accepted all of them, and will raise funds to pay my taxes and penalties regardless of any obstacles".

"I am unworthy of the trust of the society and let down the fans who love me", she wrote.

According to a brief report on the matter from Xinhua, Fan has agreed to repay the tax owed along with any fines.

Allegations of Fan's fishy figures were first voiced in May, when TV presenter Cui Yongyuan posted screenshots on Weibo of what appeared to be one of the actress's contracts. She used "yin-yang contracts" to hide her finances and avoid millions of dollars in taxes.

While the host later retracted the accusation and Fan denied any wrongdoing, her subsequent silence resonated far louder, igniting rampant speculation aboutwhat had become of one of China's most recognizable people. She also has a role in the upcoming Bruce Willis-Adrien Brody feature Air Strike. "As a public person I should be in compliance with the law and be an example for society and the industry". Earlier this year academics at Beijing Normal University ranked Fan the lowest in a "social responsibility assessment" of Chinese film and television stars. She has starred in movies both in and out of China, including "X-Men: Days of Future Past", and in ad campaigns for brands like De Beers.

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