SINGAPORE: A Chinese influencer whose social media accounts have been beforehand banned for flaunting his luxurious way of life and extreme wealth has been fined 13.3 million yuan ($1.8 million) for tax evasion tax, Shanghai tax authorities stated in an announcement launched on Wednesday (December 18).
Wang Zibo, also referred to as “Bo Gongzi” or Master Bo, had underpaid his taxes, together with private earnings tax and value-added tax, a complete of seven.49 million yuan, the service stated Shanghai municipal tax.
This is a part of China’s broader crackdown on tax evasion and the show of wealth.
The Shanghai-based influencer was recognized for his love of Hermes luxurious items and took half in a wave of high-profile social media account suspensions in May that focused China’s super-rich stars, a lot of whom have turn out to be extensively recognized on-line for displaying off glamorous designer baggage. , sports activities automobiles and high-end jewellery.
On Douyin, China’s model of TikTok, Wang’s account was deactivated and he was barred from gaining new followers, CNA checks confirmed.
His accounts on different Chinese social media platforms such because the microblogging website Sina Weibo and the Xiaohongshu app have been additionally deleted, Chinese media reported.
China takes a troublesome stance on tax evasion and, based on the legislation, authorities have the best to recuperate unpaid or underpaid tax quantities by imposing surcharges.
Those who cheat, cover or fail to pay taxes are topic to heavy fines and investigated for prison legal responsibility underneath the legislation.
Other Chinese A-listers have additionally been investigated for tax crimes.
In 2018, megastar Fan Bingbing, one among China’s highest-paid actresses, was blacklisted from the leisure trade and fined about 883 million yuan for tax evasion and different crimes.
