Flurry of Activity as C-stars Can Correct Taxes by 2018 Year End and Not be Penalized

The case of top C-actress Fan Bing Bing getting smacked down by the tax hammer neatly fits the Chinese saying about the nail that sticks out the most. For many years running she’s been the top earning Chinese celebrity (by far) so when the Chinese authorities finally decided to crack down on tax fraud of course they were going to start with her. But there’s plenty of other big fish in the pond and reportedly everyone is scrambling right now to avoid the type of high profile negative press that’s sunk Fan Bing Bing. The Chinese tax authorities have announced a “self-report, self-pay” directive that all entertainment stars are to look at their tax filings and if there are any incorrect reporting and associated tax payments, to self-correct and pay the government. This must be done by year end and if so then all will be forgive, i.e. just pay the owed taxes and the government won’t levy an additional penalty. All the top celebs earn money from their own production companies and CF contracts in addition to their day job salary getting paid for acting in dramas and movies so there is a lot to sort through and fix. Time to get some good accountants line up peeps.