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Top Chinese influencer shut down & slapped with huge tax fine

China’s top livestream sales influencer is facing a multimillion-dollar fine for tax evasion. Her social media platform has also been shut down.

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Huang Wei, commonly known as Viya, was fined $210 million for failing to declare 2019 taxes amounting to $110 million in 2020, according to the local tax authority. Huang’s social media platform, where she sold a variety of products and which boasted tens of millions of followers, has been taken down.

Huang is considered an exceptional sales personality who recently managed to sell $1.3 billion worth of products in her livestream on one evening, according to reports.

Reuters said that Huang’s accounts on livestream sales platform Taobao Live, microblog Weibo, and Douyin, the Chinese version of TikTok, were unavailable on Monday, when she was scheduled to host a cosmetics-themed live stream.

Acknowledging the fine on her Weibo account, the 36-year-old said she was “deeply sorry” and that she thoroughly accepted the punishment. The $210 million fine includes the unpaid taxes and penalties.

Viya Huang Wei. © Getty Images / Huanqiu.com / VCG

With a net worth of $1.25 billion, Huang ranks among China’s wealthiest 500 people. She was named on Time magazine’s list of 100 influential figures in 2021 and described as “the widely beloved businesswoman and influencer who is helping to shape the future of e-commerce in China.”

Beijing has been cracking down on tax evasion by prominent influencers as e-commerce booms in China. Last month, two other top livestreamers were issued fines amounting to more than $14 million and suspended from social media. Another 88 celebrities were given “warnings” over live-streaming content.

For more stories on economy & finance visit RT’s business section

https://ift.tt/3FhvOsP 21, 2021 at 05:30PM
from RT – Daily news

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