Chen Pingsheng had originally planned to stay in Guangdong for a while longer, but a phone call from Magic City threw everything off rhythm.
Tengying Entertainnt was actually reported for tax evasion by an internal finance staff mber using their real na.
Honestly speaking, as Tengying Entertainnt rapidly rose over the years, they certainly made quite a few enemies within the industry.
He hadn’t expected them to resort to such a despicable tactic.
It wasn’t just a report against the company for tax evasion; it even implicated two of Tengying’s leading actresses.
Yang Mi and Zhao Liying.
By the ti Chen Pingsheng arrived in Magic City, it was already late November, and the weather had turned quite cold with the onset of winter.
The stock price of Tengying Entertainnt also plumted following the real-na report.
What’s more, the informant had arranged things too cleverly: it was an accountant who had been working at Tengying for over two years.
Chen Pingsheng looked through his profile and saw that his na was Qin Xian, aged twenty-nine.
Prior to this, he worked at Huayi Film and Television under Huang Zhongshi.
The report involved several instances of cash bonuses and financial overstating.
Seriously speaking, any significantly large enterprise engages in so form of tax avoidance.
Tengying Entertainnt was no exception.
Zhang Wanyi said, "Boss, it has been confird that Qin Xian is a spy sent by Huayi Film and Television. The reason he chose this mont to report us is mainly because our production of War Wolf II is scheduled to premiere on New Year’s Day of ’17, clashing directly with the release of a major series by Huayi."
Tengying Entertainnt had already grown to such a stage that minor troubles were not going to have a significant impact.
Such a report would undoubtedly prompt an audit by the National Taxation Group.
Until the audit is concluded, all their projects would have to be postponed, including War Wolf II, which he had invested two hundred million yuan in October 2015.
They really put in a lot of effort to give way to Huayi’s project.
Chen Pingsheng said, "Which entertainnt company doesn’t engage in dual-contract practices? I think I’ve been quite straightforward, but they’re still playing tricks with taxes. If that’s the case, then let’s report them too; let no one have it easy."
"Boss, are we really going to do this?"
"Absolutely, we must. It’s everyone’s responsibility to supervise tax compliance."
Chen Pingsheng said, "Their big shot, Fan Haon, has a major series undergoing the auction process, doesn’t she? Pin her down first, get a few people to report her for dual-contract practices. If the investigation turns up no evidence, we’ll send a couple of people over to cooperate."
Fan Haon, she is the Leader of the Four Great Dan Actresses.
Her series, with investnts of up to five hundred million yuan, if Huayi wants to pull such dirty tricks, then let’s all play this ga together.
With the current influence of Tengying Group, they could fire at will within the entertainnt industry.
Even if Fan Haon is backed by Xu Pidai, it would be the sa.
If everyone wants to play dirty, then let’s all play dirty together.
If these two titans start fighting over tax issues, the entire entertainnt industry stars would tremble with fear.
He surely had made many enemies as well.
Fear nothing, they started it first.
After the finance staff who had worked at Tengying Entertainnt for over two years reported tax evasion under their real na,
The market value of Tengying Entertainnt, an entertainnt giant worth over eighty billion yuan, saw its stock prices fall sharply.
As long as the audit isn’t completed, their stock price would continue to fall endlessly.
This outco was inevitable.
This ti it was more severe, targeting the widespread but unspoken practice in the entertainnt industry: dual contracts.
The so-called dual contract is one that is signed openly, and another in private.
The open one is used to pay taxes.
The private one is specifically used to avoid taxes.
Tengying Entertainnt is aiming directly at the almost openly acknowledged shady rule of the entertainnt industry, the dual contract.
If they’re in trouble, let’s all be ruined together.
Huang Zhongshi never imagined that this son of a gun would go so far as to puncture the skies of the entertainnt industry.
The National Taxation Group publicly announced their intent to dispatch a team of experts specifically to audit the entertainnt industry’s dual contracts.
For a mont, all the big stars were trembling with fear.
Those who could cancel their studios overnight did so, while those who needed to pay their taxes did so without delay.
The biggest two private corporations in the show business had started to fight it out.
Any major artist related to Huayi could likely be reported by Tengying Entertainnt.
And any big star associated with Tengying would be targeted by Huayi.
Once these two behemoths clashed, the inevitable casualties would be a bunch of top-tier artists.
Who would end up involved, nobody knew.
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The only way out was to hurriedly pay taxes before the National Taxation Group arrived.
See if they can escape this disaster.
The scandals in the entertainnt industry only continued to grow bigger.
As for his own side, they had already begun cooperating with the National Taxation Group to audit all financial data since the company went public.
Chen Pingsheng wasn’t worried at all because it was simple; he had so many private assets that he could attach to it at any ti.
Take, for example, the seven hundred million yuan private jet that hadn’t been delivered yet; once accounted for, it could legitimately avoid seven hundred million yuan in taxation.
The audit by the National Taxation Group wasn’t going to be concluded in a short ti.
Huayi, which had been looking forward to watching the drama unfold, was now caught in the fray as well.
High-end corporate battles are just so plain and unadorned, often targeting various regulatory issues.
Once there’s a problem with the rules, the influence can be extraordinary.
Currently, Tengying Entertainnt and Huayi are clearly hurting each other.
And the entire industry is trembling in fear.
This is the direct impact of the number one and number two giants clashing.
Once such matters begin, they won’t just stop according to soone’s whims, especially after involving the top-level tax authorities; it’s beyond anyone’s control.
One could foresee that for a long ti, the entertainnt industry would live under the shadow of tax audits.
This is what is ant by no turning back when an arrow is shot.
Chen Pingsheng’s ssage was simple: whoever dares attempt to use national powers for targeting, he would surely pull them down with him in this arena.
Xu Pidai also called, mainly to try to protect Fan Haon.
Chen Pingsheng didn’t bother at all; a real estate seller had no cooperative relationship with him.
This ti he was one hundred percent determined to suppress Fan Haon first and teach the other side a harsh lesson.
As for the rest, he didn’t care at all.
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