China strengthens tax regulation of entertainment industry

Through :| Key words : China, tax, entertainment | Updated on 20-09-2021

China will further intensify tax regulation of individuals and businesses in the entertainment industry, as part of efforts to promote the long-term and healthy development of the industry, according to a guideline recently released by the State Business Administration. fiscal.

The strengthened regulation will focus on day-to-day management and require celebrities and livestreamers to set up tax accounts for their studios or businesses as required by law and have their tax returns and payments audited and verified by the tax authorities, according to the law. the guideline of the administration.

The guideline also emphasizes the need to conduct regular tax risk assessments in this sector, so that celebrities and entertainers exposed to tax risks receive individual information and correct their problems.

The administration also instructed lower-level tax affairs departments to respond in a timely manner to the entertainment industry’s legitimate needs and demands for tax payment services.



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