Entertainment

Yuan Bingyan’s Company Fined for Tax Evasion

Yuan Bingyan’s Company Fined for Tax Evasion thumbnail

Love and Redemption <琉璃> star, Crystal Yuan Bingyan (袁冰妍), is experiencing another career setback lately as her affiliate company, Chongqing Liyan Culture Media, is exposed for tax evasion. While Bingyan’s studio issued an apology statement on July 4 to emphasize all relevant taxes are already paid fully on time, the public still feels uneasy and believes the actress will likely take some time-off before appearing in person anytime soon.

According to independent magazine Caijing, Chongqing Liyan Culture Media was fined 978,000 Chinese yuan for CNY 1.63 million due to the company’s failure to perform its withholding and payment obligations in a timely manner. The company had used corporate funds to pay its shareholders for expenses unrelated to the production and operation of the company, which totaled CNY 8.15 million between 2019 to 2021. The company’s accounting practices were instantly red flagged by the tax bureau.

Recognizing its mistakes, Bingyan’s company deeply apologized to the public and will reflect on its mistakes to ensure taxes will be paid in strict accordance with the law from now on. Additionally, Bingyan also resigned from her company’s positions as the legal representative, executive director, and manager.

Earlier, Bingyan was frozen for more than a year by her agency H&R Century Pictures. The actress recently made her return with historical romcom My Sassy Princess <祝卿好>, and has been busy with filming projects. It appears Bingyan will have to maintain a low profile again, as previous celebrities charged with tax evasion were unable to salvage their careers.

Source: World Journal

This article is written by Minna for JayneStars.com.

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