Buzz
An individual operating on the live streaming platform (often referred to as Idol livestream) Momo fined 108 million Chinese yuan (over $16 million USD) by Chinese authorities for tax evasion.
Bloomberg on June 17 cited a statement from the State Taxation Administration of China (STA) stating that Xu Guohao - operating on the Momo live streaming platform and highly influential - was ordered to pay 108 million Chinese yuan (over $16 million USD) in taxes, late tax payment fees, and tax evasion fines from 2019 to 2020.
STA emphasizes they will enhance tax monitoring for individuals working in the live streaming sector, part of a campaign to strengthen tax enforcement in this field since last year.
Live streaming platforms are required to tax income and provide reports including personal information of 'Idol livestreamers' to local authorities every 6 months, according to guidelines issued in March 2022.
Previously, a famous live streamer in China, Huang Wei (known as Viya, the 'Livestream Queen'), was also fined up to $210 million USD last December. Huang then 'disappeared from the public eye.'
Li Jiaqi, another top direct salesperson, also suddenly disappeared from the internet, suspected of posting sensitive images.
In February of this year, live streaming star Ping Rong was fined 62 million Chinese yuan (10 million USD) by tax authorities in Guangdong province for tax evasion from 2019 to 2020. Ping gained attention last year when selling smartphones from the Doov brand (China). Kuaishou platform then removed all Doov handheld devices and committed to compensate customers who had purchased these products.
According to 58.com, live streaming is the highest-paying job for recent graduates in China. It is also a significant marketing channel for many domestic and international brands in the world's largest e-commerce market.
The Chinese research firm iResearch reported that China's live streaming e-commerce market was worth over 1.2 trillion Chinese yuan (nearly 180 billion USD) in 2020.
