Tax officials said Zheng’s case is typical of the “yin and yang” contract situation in the film and television industry
A top Chinese film and television actress has been slapped with a whopping USD 46.1 million fine for tax evasion, as China tightened supervision on celebrities under its new policy for reducing the wealth gap.
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The Shanghai Municipal Tax Service fined Zheng Shuang on Friday for tax evasion and undeclared income between 2019 and 2020 while filming a TV series.
Tax officials said Zheng’s case is typical of the “yin and yang” contract situation in the film and television industry.
The “yin and yang” contract refers to two documents made for the same agreement－the true document is kept between the two parties while the other containing a lower declared salary is presented to tax agencies to minimise taxation.
The…