Headlines from China: How Celebrities Avoid Taxes in China

How Celebrities Avoid Taxes in China

As the recent tax evasion probe sparked by Fan Bingbing’s contract leak makes the headlines, more strategies Chinese celebrities use to avoid high taxes are discussed in this article. In some cases, dubious contracting mechanism is applied to hide the true pay of high-profile stars by producing two contracts, one with a smaller amount of money being signed for tax payment, another with a larger amount presenting the actual price. Many A-Listers in China avoid taxes by setting up their own studios, as tax rate for individual income is higher than that for business income. In addition, many film companies choose to register in a region where more friendly tax policies are offered to cultural and entertainment firms. Founding a third-party firm is a more complicated way to avoid taxes. Since it concerns fake invoices, this practice often constitutes a serious crime . Read more on National Business Daily

Ten Marvel Movies To Be Screened at 2018 Shanghai International Film Festival

Marvel Studios and the organizing committee of the 2018 Shanghai International Film Festival announce that ten Marvel movies will be screened at this year’s SIFF. The lineup includes a series of films from Captain America, Avengers, Guardians of the Galaxy as well as Doctor Strange and Ant-Man. This program is presented in celebration of the tenth anniversary of the Marvel Cinematic Universe. Since Iron Man debuted in 2008, Marvel Studios has released 19 movies over the past ten years. The total box office earnings of these 19 films in the Chinese market have exceeded 12 billion yuan ($1.87 billion). Read more on Mtime

NetEase Announces Overseas Investment in American Game Developer Bungie

On June 2, NetEase Game announces that it will invest $100 million in American video game developer Bungie and receive a minority stake in the company . Founded in 1991, Bungie has developed several hit games, such as Pathways into Darkness, Marathon, and Destiny. Prior to partnering with NetEase, Bungie has partnered with international game companies, such as Microsoft and Blizzard Entertainment. By strategically investing in a foreign company rather than merely exporting games, NetEase Game hopes to further expand internationally and improve its product development capabilities. Read more on entgroup.cn