Lou Jiwei

International Tax Review is part of Legal Benchmarking Limited, 4 Bouverie Street, London, EC4Y 8AX

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Lou Jiwei

Minister of Finance, China

Lou Jiwei

Lou Jiwei, the Chinese Minister of Finance, wins a spot in this year’s list of the most influential people in tax for the sheer speed and efficiency with which his country’s VAT pilot was rolled out. While India and Malaysia have been heaping delay upon delay in implementing their GST systems, China just rolled up its sleeves and got it done.

Despite being the world’s most populous country, China managed to take a VAT pilot, which began in Shanghai in January 2012, and roll it out nationwide in August 2013. No fuss, no bother, it has even gone down well with businesses.

“The Chinese VAT reform will gather further pace, with more goods and services being brought into the successful national VAT reform package, launched in August 2013,” says Richard Asquith of TMF VAT. “We can expect a first draft proposal for the VAT financial services regime, including VAT on insurance.”

Not many communists make it into International Tax Review’s Global Tax 50, but Jiwei, who was elected Minister of Finance in March 2013, earns his place for the man at the helm of China’s vast emerging economy. VAT reform will help open China up for business and its pilot may prove a model for other Asian countries to follow.

Further reading

China unveils plans for national rollout of VAT reform pilot

China to roll out VAT pilot nationwide in August


The Global Tax 50 2013

« Previous

Antony Jenkins

View the complete list

Next »

Carol Doran Klein

more across site & shared bottom lb ros

More from across our site

Australia’s conservative opposition will repeal controversial tax agent reporting rules if elected in the country’s May general election
Shapley would be the fourth person to hold the job this year; in other news, UK tax advisory firm MHA raised fewer funds than expected from its London IPO
The US needs to be involved in pillar one for there to be more international acceptance of the project, Michael Masciangelo says
The UK regulator is investigating EY’s auditing of the national postal service as it relates to the high-profile Horizon scandal, which saw hundreds wrongfully convicted
The directive will extend cooperation and information exchange around pillar two, according to the Council of the EU
Audit engagement partner Christopher Voogd has also been hit with a £32,500 charge over the firm’s work with Stirling Water Seafield Finance
China’s largest overhaul of its tax administration system in 24 years, featuring enhanced enforcement powers, is underway, says Abe Zhao of FenXun Partners
However, the US president increased tariffs on imported Chinese goods to 125%; in other news, UK tax firm MHA expects to raise £102m from its London listing
A mere three firms accounted for more than 90% of top-up taxes paid, according to research from Deloitte
Taxpayers with Brazilian operations should revisit their withholding positions in light of updated US guidance, writes Rafael Benevides, senior tax counsel at Meta
Gift this article