Caixin
Sep 21, 2021 05:06 AM
ECONOMY

China Tightens Tax Evasion Crackdown on Showbiz

What’s new: China is tightening a crackdown on tax evasion targeting individuals and businesses in the entertainment industry following several high-profile cases.

The State Taxation Administration (STA) said it will beef up supervision and conduct regular inspections of top entertainers, including online influencers and their studios and related businesses.

Offenders will be subject to serious punishment, the taxation authority said.

The context: The regulatory move extended a crackdown on tax evasion in the entertainment industry that started in 2018 and further expanded it to the flourishing online streaming industry.

Several celebrities have come under regulator’s scrutiny for tax violations. Last month, high-profile actress Zheng Shuang was ordered to pay 299 million yuan ($46 million) in overdue taxes, late fees and fines.

In 2018, Fan Bingbing, an A-list star in China, was found guilty of tax evasion and ordered to pay more than 800 million yuan in overdue taxes, late fees and fines.

Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full story in Chinese, click here.

Contact reporter Han Wei (weihan@caixin.com) and editor Bob Simison (bobsimison@caixin.com)

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