Fan Bingbing Reportedly Selling 41 Apartment Units To Pay Off Taxes And Penalties

Chinese actress Fan Bingbing has recently been ordered to pay a total of 880 million Yuan ($128,535,851 USD) in taxes and penalties for not reporting and paying a total of 248 million Yuan ($36,104,236 USD) in taxes.

Fan Bingbing Comes Out Of Hiding, Admits to Massive Tax Evasion

Fan Bingbing was originally required to pay this amount within 15 days according to the Chinese newspaper, The Economic Observer, but the tax authorities have apparently taken into consideration the large figure and extended this period until the end of the year.

Fan Bingbing’s assets are currently estimated to be around 7 billion Yuan ($1 billion USD). But even so, coming up with 880 million Yuan ($128,535,851 USD) in a short period of time is not an easy task.

As a result, according to a Hong Kong media outlet, she has urgently listed 41 apartment units for sale in the Beijing real estate market in order to pay off this amount.

The conditions of the sale stated: “As a private property, property rights are clear and there are no related loans, but we hope for a bulk purchase.” Moreover, the apartment units were listed on the market up to 30% cheaper than the market value.

The total value of these properties is estimated to be around 1 billion Yuan ($145,583,700 USD) and therefore, if the sale is successful, she will be able to pay off her 880 million Yuan ($128,535,851 USD) without any problem.

Moreover, her boyfriend and actor Li Chen has also reportedly listed a luxury property in Beijing for sale in order to help the actress. The property, which is known to be a traditional Siheyuan house that includes a garden, is worth over 100 million Yuan ($14,558,370 USD).