Fan Bingbing: China says missing actress fined for tax evasion

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The details behind Fan Bingbing's three-month disappearance aren't as exciting as you might think. If Fan Bingbing pays the $107 million in full, she'll reportedly avoid criminal prosecution as it's her first offense.

After the news started spreading, Bingbing posted an apology on Weibo.

In addition to determining that Fan and her studio had evaded paying hundreds of millions of yuan in taxes, the tax authorities found that Fan had received 30 million yuan for her role in the upcoming film "Air Strike" - in which she stars in alongside Bruce Willis and Adrien Brody - but only paid tax on one-third of that income, much of which was funneled into smaller contracts.

Of the total amount, Fan is being personally fined around €60m (£54 million) for tax evasion, according to China's official Xinhua News Agency. Her agent is being held by police for allegedly obstructing the investigation.

The investigation was launched after a CCTV host accused the 37-year-old actress of having signed so-called "yin-yang contracts", wherein she would receive two separate contracts for the same film project, one of which would be reported to authorities, the other would not, thus helping her sidestep millions in taxes.

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Fan apologized to her followers Wednesday with a post on Weibo, saying that she accepts the tax authorities' decision and would "try my best to overcome all difficulties and raise funds to pay back taxes and fines". Her vanishing act sparked wild speculation in China about her fate, including reports that she had been detained. For these violations, the Jiangsu Tax Bureau is fining Fan and her legal representative 880 million yuan. "I have failed society's trust, and I have failed the love of my fans".

Investigations revealed that actress Fan Bingbing had split her contract to evade taxes of 7.3 million yuan over payments for her role in the film Air Strike. The statement also talks of how she's "always been interested in the arts ever since childhood" and that her success in this realm "is down to the support of my country and the people". I would really like to ask for everyone's forgiveness. She has since been transferred to the authorities in Beijing, said the source.

She had disappeared from public view in June following reports she was being investigated for tax fraud.

This saw her top Forbes magazine's list of China's highest earning celebrities, holding the title for a fourth year in a row.

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